The Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) set out a detailed roadmap to strengthen the city’s fixed income and currency (FIC) markets, part of a broader push to reinforce its role as a global financial centre and deepen its position as the premier offshore renminbi (RMB) hub.
The Roadmap for the Development of Fixed Income and Currency Markets lays out 10 initiatives under four main pillars: primary market issuance, secondary market liquidity, offshore RMB business, and next-generation infrastructure.
Formulated after consultations with industry participants, the plan is designed to attract more issuers to Hong Kong, widen investment opportunities, and provide investors with tools to better manage liquidity and risk.
In addition to consolidating existing strengths, regulators aim to accelerate new areas of growth by enhancing RMB internationalisation and investing in digital market infrastructure to facilitate innovation and efficiency.
The SFC and HKMA also hosted the 2025 Fixed Income and Currency Forum, which gathered senior Hong Kong and mainland Chinese officials, global regulators, and executives from leading financial institutions.
The event provided a platform for dialogue on the challenges and opportunities facing FIC markets, from the growth of sustainable finance to the rise of digital assets.
Dr. Kelvin Wong, chairman of the SFC, said Hong Kong’s FIC markets were “vital engines for global capital flows” and would play a central role in shaping the city’s long-term competitiveness.
Eddie Yue, chief executive of the HKMA, emphasised the need to adapt to emerging trends such as RMB internationalisation and market digitalisation, adding that the roadmap provided “a comprehensive set of priorities” for the near future.
Julia Leung, chief executive of the SFC, said strengthening the FIC markets was critical to Hong Kong’s appeal as a global fundraising hub, citing close coordination with industry stakeholders and mainland counterparts.
The roadmap comes as Hong Kong faces growing competition from Singapore and other Asian centres seeking to capture a larger share of global bond issuance, currency trading and sustainable finance flows.
Analysts say the initiatives highlight Hong Kong’s determination to sustain its role as a bridge between mainland China and international capital at a time of heightened geopolitical and economic uncertainty.
