APEC Workshop on Development of Domestic Bond Markets

Representatives from 14 member economies of the Asia Pacific Economic Co-operation (APEC) met in Hong Kong today (18 December) to discuss technical issues on the development of domestic bond markets in the region. This is part of the effort of a Collaborative Initiative launched by the APEC Finance Ministers at their meeting in Kananaskis, Canada in May 1998. Hong Kong, China is the coordinator for this Collaborative Initiative.

Participants discussed the current state of the debt market in the Asia-Pacific region and factors affecting market development. Participants also discussed possible measures to help member economies to further develop their domestic bond markets.

The group will report the results of the discussion to the APEC Finance Ministers Meeting to be held in May 1999 in Malaysia.

Representatives to the meeting came from finance ministries, central banks and monetary authorities of Australia; Brunei Darussalam; Canada; People's Republic of China; Hong Kong, China; Indonesia; Japan; Republic of Korea; Malaysia; New Zealand; Singapore; Chinese Taipei; Thailand; and USA. Representatives from the Asian Development Bank, the Bank for International Settlements, the International Monetary Fund and the World Bank also attended the meeting.

Hong Kong Monetary Authority

18 December 1998