SFC and HKMA launch roadmap to make Hong Kong a global fixed income and currency hub, focusing on primary market issuance, secondary market liquidity, offshore RMB business, and next-generation infrastructure. The plan includes initiatives to attract issuers, improve risk management tools, and boost offshore RMB usage and liquidity.
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The Securities and Futures Commission ("SFC") and the Hong Kong Monetary Authority ("HKMA") jointly unveiled Hong Kong’s Roadmap for the Development of Fixed Income and Currency ("FIC") Markets on 25 September 2025. The aim is to establish the city as a leading global FIC hub by promoting demand, liquidity, and innovation.
The Roadmap identifies four key pillars: primary market issuance, secondary market liquidity, offshore renminbi ("RMB") business, and next-generation infrastructure. These pillars are designed to bolster the existing market structure and innovate in the FIC landscape.
One of the ten proposed initiatives focuses on attracting issuers by enhancing Hong Kong's status as a fundraising hub and providing advanced risk and liquidity management tools.
The Roadmap prioritizes boosting offshore RMB usage and liquidity, as well as developing next-generation infrastructure to foster market innovation.
The regulators co-hosted the Fixed Income and Currency Forum 2025 to foster dialogue with market participants, bringing together senior officials from Hong Kong, the Mainland, regulators, and leaders from major financial institutions.
Dr Kelvin Wong, Chairman of the SFC, underscored the significance of Hong Kong’s FIC markets for global capital flows and long-term development. He noted that the Roadmap will guide the market's evolution to benefit issuers, investors, and intermediaries.
Mr Eddie Yue, Chief Executive of the HKMA, highlighted the importance of leveraging Hong Kong's strengths, adapting to market changes, and innovating to capitalize on emerging trends. He emphasized the near-term focus of the Roadmap’s work.
Ms Julia Leung, Chief Executive Officer of the SFC, underscored the critical role of strengthening Hong Kong’s FIC markets for advancing its position as an investment and fundraising hub. She emphasized the close collaboration and shared commitment with the HKMA, industry partners, and other stakeholders.
The full Roadmap is available on the SFC’s and HKMA's websites.
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