HKEX(HK:00388) 中国基金报·2025-09-22 14:04Core Viewpoint - The Hong Kong Stock Exchange (HKEX) has introduced a new interest rate swap contract based on the one-year Loan Prime Rate (LPR1Y) under the "Northbound Swap Connect" to meet the diverse needs of overseas investors [2][4]. Group 1: New Financial Instruments - The HKEX, in collaboration with the China Foreign Exchange Trade System and the Shanghai Clearing House, has launched the LPR1Y interest rate swap contract to enhance risk management tools for foreign investors [4]. - On the launch day, 31 domestic and foreign institutions participated, with a total of 53 transactions amounting to RMB 6.46 billion [4]. Group 2: Enhancing Risk Management - The introduction of LPR interest rate swaps will enrich the risk management tools available to overseas investors, addressing their diverse interest rate risk management needs and aiding in the internationalization of the RMB [5]. - The existing non-deliverable interest rate swap (CNY NDIRS) contract's maximum term has been extended from 5.5 years to 11 years to better assist foreign investors in managing interest rate risks [7]. Group 3: Operational Performance - Since its launch on May 15, 2023, the "Swap Connect" has been operating smoothly, becoming an important channel for foreign institutional investors to manage RMB interest rate risks [7]. - As of August 2025, 82 foreign financial institutions from 15 countries and regions have conducted over 15,000 RMB interest rate swap transactions, totaling approximately RMB 8.15 trillion in nominal principal [7].