Hong Kong Exchanges and Clearing Limited officially launched five-year RMB government bond futures on August 3. Wu Qing, Chairman of the China Securities Regulatory Commission, stated at the listing ceremony that this represents another significant milestone in deepening practical cooperation between the capital markets of the mainland and Hong Kong, describing it as "timed perfectly and naturally evolving."

Wu Qing highlighted that government bond futures are among the most representative interest rate derivatives in the government bond financial market, playing an increasingly vital role in the modern financial system. Currently, international investors hold Chinese bonds totaling 3.2 trillion yuan, leading to a growing demand for risk management. Three months ago, the implementation of domestic government bond futures trading by multiple overseas investors was put into effect. Through close collaboration among the China Securities Regulatory Commission, the People's Bank of China, and relevant Hong Kong counterparts, both regulatory and market institutions have conducted extensive and meticulous work in areas such as rule-making, market organization, infrastructure, and risk prevention. The official launch of five-year RMB government bond futures in Hong Kong today is indeed timely and naturally evolving, Wu Qing added.

Wu Qing noted that this initiative not only provides international investors with convenient and efficient tools to better and more confidently hold Chinese bond assets, but also facilitates close coordination between the spot and futures markets for government bonds on both sides, fostering a more resilient and effective government bond yield curve. In the long term, this important product will further enrich the application scenarios of RMB assets, strengthen Hong Kong's role as a global RMB business hub, and better enhance the efficiency of financial services to the real economy.