In a collaborative announcement, the People's Bank of China, the Hong Kong Monetary Authority, and the Hong Kong Securities and Futures Commission have expressed their support for the China Foreign Exchange Trade System and Hong Kong Exchanges and Clearing Limited to jointly establish an electronic fixed income and currency trading platform in Hong Kong. This initiative aims to further deepen financial market cooperation between the mainland and Hong Kong, while consolidating and enhancing Hong Kong's status as an international financial center and an offshore Renminbi business hub.

The Hong Kong Securities and Futures Commission and the Hong Kong Monetary Authority had previously outlined the "Fixed Income and Currency Market Development Roadmap" for 2025, where supporting the development of a new generation electronic trading platform was identified as a key measure. The new platform will be based in Hong Kong and serve international markets, providing an open, fair, efficient, and stable environment for fixed income and currency transactions.

Its foundational principles include adherence to international market standards and practices while complying with Hong Kong's relevant regulatory requirements. The platform is committed to creating an open and fair market, offering a comprehensive range of product services for global investors. It will also align with the local financial ecosystem and development objectives.

Furthermore, the platform will be market-driven, responding to market needs to enhance trading efficiency and transparency, promote effective price discovery, reduce transaction costs, and explore technological innovations to empower financial services. Specific details regarding the platform's launch timeline will be announced in due course.