人民币国际化，香港证监会重磅发声

Core Viewpoint - The Hong Kong Securities and Futures Commission (SFC) is prioritizing the development of the offshore RMB center through three strategic initiatives aimed at enhancing the RMB fixed income market in Hong Kong [1][2]. Group 1: Bond Connect Optimization - The People's Bank of China and the Hong Kong Monetary Authority announced several measures to optimize and expand the Bond Connect, including broadening the range of participating institutions and enhancing offshore RMB bond repurchase operations [2][4]. - The total issuance of offshore RMB bonds in Hong Kong surpassed 1 trillion RMB in 2024, reflecting a year-on-year increase of 37% [4]. Group 2: Enhancing Market Liquidity - The SFC aims to improve liquidity in the secondary bond market by supporting the development of diverse derivative products, which are crucial for investors to hedge risks and manage liquidity [5][6]. - The derivatives market on the Hong Kong Stock Exchange has seen robust growth, with daily average trading of USD/CNY futures reaching 113,000 contracts in the first half of 2023, three times that of the previous year [5]. Group 3: Infrastructure Development - The SFC is focused on establishing and optimizing the infrastructure for offshore RMB products, including front-end trading systems and back-end support systems, to enhance the robustness of Hong Kong's financial system [6]. - Collaboration with Omniclear aims to expand the use of national bonds as eligible collateral for various products on the Hong Kong Stock Exchange [6].