In a joint announcement, the People's Bank of China, the Hong Kong Monetary Authority (HKMA), and the Securities and Futures Commission of Hong Kong (SFC) have expressed their support for the establishment of a new electronic fixed income and currency trading platform in Hong Kong.

This initiative is a collaborative effort between China Foreign Exchange Trade System (CFETS) and Hong Kong Exchanges and Clearing Limited (HKEX). The platform is designed to deepen financial market cooperation and enhance Hong Kong's role as an international financial hub and a key center for offshore renminbi business.

Platform Development and Core Principles

The development of this new-generation electronic trading platform is a key measure outlined in the "Fixed Income and Currency Market Development Roadmap" published by the SFC and HKMA in 2025. The platform will be based in Hong Kong and serve international markets, aiming to provide an open, fair, efficient, and stable environment for fixed income and currency transactions.

The platform will operate based on several core principles. It will adhere to international market standards and practices, while also complying with all relevant regulatory requirements in Hong Kong.

A primary objective is the creation of an open and fair marketplace, offering a comprehensive range of products and services to global investors. The platform's development will be coordinated with the local financial ecosystem and its strategic goals.

It will be market-driven, responding to industry needs to improve transaction efficiency and transparency, facilitate effective price discovery, reduce trading costs, and explore how technological innovation can empower financial services.

Further details regarding the official launch timeline of the trading platform will be announced at a later date.