Hong Kong Sets Sights on Becoming Global Fixed Income Powerhouse

The Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) have jointly announced an ambitious roadmap to position Hong Kong as a global hub for fixed income and currency (FIC) markets. This strategic initiative aims to enhance the city’s stature by increasing demand, liquidity, and fostering innovation, according to the Hong Kong Monetary Authority.

Key Initiatives and Strategic Vision

The roadmap outlines critical initiatives across four main pillars: primary market issuance, secondary market liquidity, offshore renminbi (RMB) business, and next-generation infrastructure. Developed in consultation with industry stakeholders, the roadmap will guide policy-making and implementation efforts by the SFC and HKMA. These efforts are geared towards supporting the sustainable and diversified growth of Hong Kong’s capital markets.

Among the ten proposed initiatives, the plan seeks to strengthen Hong Kong’s existing foundations by attracting more issuers to utilize the city as a fundraising hub. Additionally, it aims to equip issuers and investors with tools for risk and liquidity management, while also exploring new grounds in offshore RMB usage and developing advanced infrastructure to support market innovation.

Engaging with Market Participants

To further dialogue with market participants, the SFC and HKMA co-hosted the Fixed Income and Currency Forum 2025. This event gathered senior officials from Hong Kong and Mainland China, as well as leaders from major financial institutions, to discuss opportunities, challenges, and emerging trends in the global FIC landscape.

Dr. Kelvin Wong, Chairman of the SFC, emphasized the central role of Hong Kong’s FIC markets in the city’s international standing and long-term development. He noted that the roadmap is designed to guide market evolution, benefiting issuers, investors, and intermediaries alike.

Commitment to Innovation and Growth

Mr. Eddie Yue, Chief Executive of the HKMA, highlighted the roadmap’s focus on positioning Hong Kong as a premier offshore RMB business center. He reiterated the commitment to building on existing strengths, adapting to market changes, and leveraging trends such as RMB internationalization and digitalization of the FIC market.

Ms. Julia Leung, CEO of the SFC, pointed out that strengthening Hong Kong’s FIC markets is crucial for its role as an investment and fundraising hub. She stressed the importance of collaboration with the HKMA and other stakeholders to enhance Hong Kong’s role in connecting Mainland and international capital markets.

For more information, the full roadmap is available on the official websites of the SFC and the HKMA.

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