Key Information

inSight
Speeches
Speeches by Speaker
Norman T.L. Chan
Peter Pang
Eddie Yue
Arthur Yuen
Raymond Li
Edmond Lau
Esmond Lee
Meena Datwani
Vincent W.S. Lee
James Lau
Joseph Yam
Y K Choi
William Ryback
David Carse
Tony Latter
Andrew Sheng
Hans Genberg
Simon Topping
Michael Taylor
The Honourable Donald Tsang
Chen Yuan
Dai Xianglong
Don Brash
Jaime Caruana
Andrew Crockett
Mario Draghi
David Eldon
Stanley Fischer
Timothy F. Geithner
Stephen Grenville
Kenneth G. Lay
William McDonough
Ernest Patrikis
Glenn Stevens
Jean-Claude Trichet
Tarisa Watanagase
Zeti Akhtar Aziz
Press Releases
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
Press Releases by Category
Bogus Voice Message Phone Calls
Banking in Hong Kong
Fraudulent Websites, E-mails and Telephone System, and other fraud cases
Granting of Banking Licences
Exchange Fund
Table of Multiples of Notes and Payments for Allotted Amount under non-competitive tender
Table of Multiples of Notes and Payments of Application Amount under non-competitive tender
Tender of Exchange Fund Bills and Notes
Tender Results of Exchange Fund Bills and Notes
Tentative Issuance Schedule for Exchange Fund Bills and Notes
Appointments and Departures
HKMA Pay Review
HKMA Publications
Speeches
The Hong Kong Mortgage Corporation
Hong Kong Note Printing Limited
Hong Kong Institute for Monetary Research
Exchange Fund Investment Limited
Others
Hong Kong Financial Infrastructure
International Relations
Investment Products Related to Lehman Brothers
Monetary Policy
Notes and Coins
Renminbi business
Credit Card Lending Survey
Monetary Statistics
Residential Mortgage Survey
Year 2000
Others
Guidelines and Circulars
Guidelines
Circulars
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
421.9001

Speeches

Remarks by the Chief Executive of HKMA at the Bond Connect Launch Ceremony 3 July 2017

by Norman T.L. Chan, Chief Executive, Hong Kong Monetary Authority

3 July 2017

The Honourable Carrie Lam Cheng Yuet-ngor, Deputy Director Huang Liuquan, Deputy Director Qiu Hong, Financial Secretary Paul Chan, Deputy Governor Pan Gongsheng, Mr CK Chow, distinguished guests, ladies and gentlemen,

  1. Good Morning.
  2. I am very pleased to join you today for the launch of Bond Connect.  Bond Connect marks another milestone of mutual access of capital markets between the Mainland and Hong Kong, following the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect.  It is also another important measure of the Central Government to support Hong Kong’s development as an international financial centre.
  3. A key function of Hong Kong as an international financial centre is financial intermediation, providing efficient and safe conduits for fund flows.  The establishment and smooth operation of these conduits shall be underpinned by suitable and sound financial infrastructures.  Over the years, the Hong Kong Monetary Authority (HKMA) has endeavoured to build our financial infrastructures, from the Real Time Gross Settlement system to the Central Moneymarkets Unit (CMU) for debt securities settlement, which have laid a solid foundation for Hong Kong’s development as an international financial centre.
  4. Bond Connect is a new financial infrastructure established through the connection between HKMA’s CMU and the relevant central securities depositories (CSDs) on the Mainland.  Under Bond Connect, eligible overseas investors can settle and hold their Mainland bonds through CMU using nominee holding arrangement.  Nominee holding arrangement is widely used by investors in international capital markets as it provides greater convenience and flexibility to investors and market participants.  CMU also adopts nominee holding arrangement and provides nominee holding services for more than 200 local and international banks, trust companies and custodians through its linkages with Euroclear, Clearstream and other regional CSDs.  The continued liberalisation of the Mainland’s capital account and RMB internationalisation will progressively raise demand from overseas investors for RMB asset allocation, while the Mainland has been proactively rolling out measures to facilitate overseas investors’ access to its bond market.  We believe that Bond Connect would enhance overseas investors’ participation in the Mainland bond market.
  5. I wish Bond Connect a great success.  Thank you.
Last revision date: 3 July 2017
ABOUT THE HKMA
The HKMA
Tender Invitations
Careers@HKMA
Legislative Council Issues
Links
The HKMA Information Centre
KEY FUNCTIONS
Monetary Stability
Banking Stability
International Financial Centre
Exchange Fund
PUBLICATIONS & RESEARCH
Annual Report
Half-Yearly Monetary & Financial Stability Report
Quarterly Bulletin
HKMA Background Briefs
Reference Materials
Research
MARKET DATA & STATISTICS
CMU Bond Price Bulletin
Economic & Financial Data for Hong Kong
Monthly Statistical Bulletin
Monetary Statistics
KEY INFORMATION
Press Releases
Speeches
Guidelines & Circulars
Forthcoming Events
inSight
OTHER INFORMATION
Account Opening
Consumer Corner
Consumer Education Programme
Complaints about Banks
Complaints about SVF Licensees
Internet Banking
Fraudulent Bank Websites, Phishing E-mails and Similar Scams
Be Careful of Bogus Phone Calls and SMS Messages
Authenticate the Callers and Bank Hotline Numbers
Register of AIs & LROs
Register of Securities Staff of AIs
Register of SVF Licensees
Investment Products Related to Lehman Brothers
Photo Gallery