Bond Market Development

Hong Kong is the leading bond issuance hub in Asia. In 2024, Hong Kong is, for the ninth time over the past decade (since 2015), the largest centre for arranging international bond issuance in the region, with the issuance volume totalling more than US$130 billion and capturing around 30% of the regional market¹. The HKMA and the HKSAR Government have introduced various initiatives to promote the further development of Hong Kong’s bond market. These include the implementation of the Exchange Fund Bills and Notes Programme, Government Bond Programme, Government Sustainable Bond Programme² and Infrastructure Bond Programme. Various tax concessions and incentive schemes are also available for eligible bond issuers and investors.

¹ Source: International Capital Market Association

² The Government Green Bond Programme has been renamed as the Government Sustainable Bond Programme with effect from 10 May 2024.