央行多措并举深化内地香港金融互联互通 强固香港离岸人民币枢纽地位

Core Viewpoint - The People's Bank of China is taking measures to deepen financial connectivity between the mainland and Hong Kong, reinforcing Hong Kong's position as an offshore RMB hub [1][2]. Group 1: Measures Announced - The People's Bank of China supports various measures including allowing foreign institutional investors to conduct repurchase transactions in the mainland bond market [1][2]. - The daily quota for northbound trading has been increased more than double to 45 billion RMB [1]. - There will be more RMB-denominated assets available in the Hong Kong market, including government bonds [1][2]. - The implementation of RMB government bond futures in Hong Kong is being expedited [1][2]. Group 2: Government Response - The Hong Kong government welcomes the measures and emphasizes its commitment to enhancing financial connectivity with the mainland [2]. - The Financial Secretary of Hong Kong highlighted the growing global demand for RMB-denominated products, reinforcing Hong Kong's role as a risk management center [2]. - The government expresses gratitude for the support from the central government and aims to contribute more to the nation's financial strength [2]. Group 3: Market Developments - The issuance of RMB bonds in Hong Kong is expected to exceed 1 trillion RMB in 2024 [3]. - The swap mechanism has been operating smoothly since its implementation in 2023, with average daily transactions reaching 20 billion RMB by August 2025, a fivefold increase from the first month of operation [3]. - There is an increasing demand for risk management tools as foreign investors participate more in the mainland bond market [3].