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2026-09-16 11:46:47 Chief Executive John Lee announced Hong Kong's first Five-Year Plan at the Legislative Council. In terms of optimizing the stock and bond markets, the plan will continue to improve market system design and product ecosystems around the two core markets of equities and bonds. The government aims to enhance market depth, breadth and liquidity, helping Mainland Chinese enterprises "go global" while attracting international capital inflows. Hong Kong will further undertake its role as the country's testing ground for financial opening-up and actively strengthen its influence and voice as an international financial center. The plan will fortify the competitiveness of the listing regime and improve the operational efficiency of securities market infrastructure, supporting Mainland Chinese and overseas industry leaders as well as quality emerging industry companies to list in Hong Kong. Measures include deepening cooperation between HKEX and the Qianhai Equity Exchange to help more quality Mainland Chinese enterprises connect with international capital markets through Hong Kong's listing platform and establish smoother and more efficient listing services. It will also improve and expand financial market connect mechanisms, broaden emerging sectors, and strengthen the functions of financing and investment platforms while promoting economic, trade, financial and infrastructure cooperation with Belt and Road countries and emerging economies in the Global South. The government will coordinate the advancement of primary market issuance, secondary market liquidity enhancement, offshore RMB business expansion, and fixed-income and currency infrastructure development. It will improve Bond Connect and continue optimizing and expanding Southbound trading in terms of investment quotas, investor scope, products and trading arrangements. Efforts will be made to encourage more Mainland Chinese institutions to invest in Hong Kong's bond market and expand the channels and business volume of Stock Connect, Bond Connect, Cross-boundary Wealth Management Connect and Private Fund Connect. Hong Kong will develop diversified financial products and risk management tools, study the establishment of central counterparty clearing for repurchase transactions, and improve regulation of OTC derivatives products. The government will steadily promote the regular issuance of digital government bonds, enhance related legal and market support measures, and promote the wider adoption of digital bonds. It will accelerate the commercialization, internationalization and modernization of the Central Moneymarkets Unit (CMU), promote connectivity between local stock and bond central securities depository platforms, and build an electronic trading platform for fixed-income and currency products that meets Hong Kong market characteristics and RMB internationalization needs, with the aim of developing CMU into a leading regional central securities depository institution. Hong Kong will attract international financial institutions to establish regional headquarters or offices in the city and support financial institutions in using Hong Kong as a regional base. It will support large Mainland Chinese financial institutions in leveraging Hong Kong's platform to enhance integrated service capabilities and encourage them to increase capital investment in Hong Kong and develop overseas business through international headquarters in the city. The plan will also strengthen the role of Hong Kong units of large Mainland Chinese financial institutions as group risk management centers and operating bases, while supporting Mainland Chinese banks and insurers in expanding into international markets. Other Mainland Chinese financial institutions in Hong Kong will also be encouraged to serve as international business operation windows. Hong Kong will further serve as a transit hub for Chinese enterprises expanding overseas. The city will host high-level financial events and deepen international exchanges and pragmatic cooperation. Qualified overseas enterprises with sound capital, governance and substantive operations will be guided in an orderly manner to re-domicile to Hong Kong, enhancing the quality and stability of financial entities in the city. ~ AASTOCKS Financial News Website: www.aastocks.com | |