The Government Bond Programme is an initiative of the Government to develop the local bond market. The primary objective of the Programme is to promote the further and sustainable development of the local bond market through systematic issuance of government bonds.
The Programme intends to achieve the objective in the following ways:
The development of a mature local bond market can readily serve as another channel for financial intermediation, complementing the equity market and the banking system. The diversity of financial intermediation channels helps promote financial stability and strengthen Hong Kong's position as an international financial centre, thereby promoting economic development.
The Government Bond Programme consists of the institutional bond issuance programme and the retail bond issuance programme.
The HKMA, as representative of the Government in the implementation of the Programme, is tasked to co-ordinate the offering of government bonds and to manage the investment of the sums raised under the Programme.
For more information, please visit the website of the Government Bond Programme.