HKMA, PBoC and SFC unveil measures to boost FIC and offshore RMB
HKMA, PBoC and SFC jointly announced new measures to deepen China-Hong Kong financial cooperation, expand the fixed income and currency market, and grow offshore RMB business.
The tripartite announcement expands cross-border FIC connectivity and offshore RMB infrastructure, reinforcing Hong Kong's role as an international financial centre. Firms should expect new product opportunities alongside evolving prudential, liquidity and conduct obligations tied to expanded RMB flows and bond market access.
Expands cross-border product scope and RMB liquidity channels, materially affecting treasury, capital markets and prudential risk profiles for firms operating in Hong Kong.
Action Required
Assess exposure and product readiness for expanded offshore RMB, bond and FIC connect channels and update related market access and liquidity frameworks.
Joint HKMA-PBoC-SFC actions on RMB and FIC markets are strategically significant for cross-border capital flows and Hong Kong's IFC positioning.
Monitor implementation timelines for new FIC and offshore RMB measures; update product approval, liquidity risk and cross-border governance controls to reflect broader RMB and bond market access.
“The HKMA, PBoC and SFC announced on 7 July a series of new measures to deepen financial cooperation between Hong Kong and the Chinese Mainland, support Hong Kong's fixed income and currency market and offshore RMB business, and reinforce Hong Kong's position as an international financial centre.”