跨境债券回购业务正式推出 余伟文：助力提升香港离岸人民币市场流动性

Core Viewpoint - The launch of the cross-border bond repurchase business on September 26 is a significant policy aimed at enhancing liquidity in the offshore RMB market and reducing financing costs for RMB [1] Group 1: Policy Announcement - The Hong Kong Monetary Authority (HKMA) has collaborated with the People's Bank of China, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange to officially introduce the cross-border bond repurchase business [1] - The announcement supports all foreign institutions that have entered the onshore bond market to participate in onshore bond repurchase activities, allowing them to obtain RMB liquidity and remit it abroad [1] Group 2: Market Impact - This initiative follows the HKMA's introduction of offshore RMB bond repurchase business in February, marking another important step in providing stable liquidity for the offshore RMB market [1] - The cross-border and offshore RMB repurchase businesses complement each other, meeting the asset allocation and liquidity management needs of offshore investors, thereby enhancing the international appeal of onshore bonds [1] Group 3: Strategic Goals - HKMA Chief Executive Eddie Yue expressed satisfaction with the launch, emphasizing the close cooperation between HKMA and the central bank to continuously optimize the "Bond Connect" initiative [1] - The measures are expected to improve liquidity in the offshore RMB market and increase foreign investors' willingness to allocate RMB assets, further solidifying Hong Kong's position as an international financial center and offshore RMB business hub [1]