SFC and HKMA unveil roadmap to advance Hong Kong’s vision to be global fixed income and currency hub

The Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) jointly announced Hong Kong’s Roadmap for the Development of Fixed Income and Currency (FIC) Markets (Roadmap) today (25 September) to position the city strategically as a global FIC hub by fostering demand, liquidity and innovation.The Roadmap outlines key initiatives across the four pillars of primary market issuance, secondary market liquidity, offshore renminbi (RMB) business, and next-generation infrastructure. Formulated in close consultation with industry stakeholders, the Roadmap will guide the policy making and implementation of the SFC and the HKMA in coming years to support the sustainable and diversified growth of Hong Kong’s capital markets.Among the 10 proposed initiatives, the Roadmap seeks to reinforce Hong Kong’s existing foundations by further attracting issuers to make use of Hong Kong as their fund-raising hub, and providing issuers and investors with risk and liquidity management tools. It also places equal emphasis on breaking new ground, by boosting offshore RMB usage and liquidity, as well as developing next-generation infrastructure to facilitate market innovation (see Appendix of press release).  

To facilitate further dialogue with market participants on FIC, the two regulators co-hosted the Fixed Income and Currency Forum 2025 today. The event brought together senior Hong Kong and Mainland officials, regulators and leaders from major financial institutions to exchange insights on opportunities, challenges and emerging trends in the global FIC landscape. Dr Kelvin Wong, Chairman of the SFC, said, “As vital engines for global capital flows, Hong Kong’s FIC markets are central to the city’s international stature and long-term development. The Roadmap is poised to guide our market evolution that will benefit issuers, investors and intermediaries alike for years to come.”Mr Eddie Yue, Chief Executive of the HKMA, said, “To position Hong Kong as a global FIC hub and further cement our position as the premier offshore RMB business centre, we will continue to build on our strengths, adapt to market changes and innovate, and capitalise on emerging trends, including RMB internationalisation and the digitalisation of the FIC market. The Roadmap comprehensively set out our work focuses in the near future. We look forward to implementing the initiatives in collaboration with industry stakeholders.”

Ms Julia Leung, Chief Executive Officer of the SFC, said, “Strengthening Hong Kong’s FIC markets is essential to advancing its position as an investment and fund-raising hub. The Roadmap reflects our close collaboration and shared commitment with the HKMA, industry partners and other stakeholders to enhance Hong Kong’s vital role in bridging Mainland and international capital markets.”