Hong Kong unveils roadmap to develop its fixed income and currency markets

They aim to attract more issuers to the city.

Hong Kong’s central bank has teamed up with the Securities and Futures Commission (SFC) to launch a roadmap for the development of fixed income and currency (FIC) markets.

The goal is to position Hong Kong as a global FIC hub by fostering demand, liquidity, and innovation, according to the Hong Kong Monetary Authority (HKMA) and the SEC.

The roadmap outlined key initiatives across the four pillars of primary market issuance, secondary market liquidity, offshore renminbi (RMB) business, and next-generation infrastructure, according to a press release.

The goal is to further attract issuers to make use of Hong Kong as their fund-raising hub and provide issuers and investors with risk and liquidity management tools.

It also seeks to break new ground by boosting offshore RMB usage and liquidity, as well as developing next-generation infrastructure to facilitate market innovation, it said.