Hong Kong Monetary Authority - Bond Market Development

The Financial Secretary proposed in the 2023-24 Budget the setting up of the Infrastructure Bond Programme (“IB Programme”) to enable better management of the cashflow needs of major infrastructure projects and facilitate their early completion for the good of the economy and people’s livelihood. Thereafter, it was set out in the 2024-25 Budget that the Government will set a borrowing ceiling of a total of HK$500 billion for the IB Programme and Government Green Bond Programme (“GGB Programme”) to allow more flexibility in quota re-allocation. The sums borrowed will be credited to the Capital Works Reserve Fund (“CWRF”) for investment in projects which are conducive to long-term development.