Core Viewpoint - The Hong Kong Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) have jointly released a "Roadmap for the Development of Fixed Income and Money Markets," aiming to position Hong Kong as a global hub for fixed income and currency markets through strategies that enhance demand, liquidity, and innovation [2][7]. Group 1: Four Pillars and Ten Measures - The roadmap outlines four pillars and ten measures to enhance Hong Kong's fixed income and money markets [4]. - Pillar One: Promote Issuance - Lead market development through government bond issuance [4]. - Promote Hong Kong's advantages to target market issuers and investors [4]. - Expand the investor base, including family offices, funds, and corporate treasury centers [4]. - Pillar Two: Increase Liquidity - Implement an over-the-counter fixed income and currency derivatives system [4]. - Promote the development of a central counterparty for repurchase transactions in Hong Kong [4]. - Pillar Three: Expand Offshore RMB Business - Broaden the application of offshore RMB [5]. - Improve the connectivity mechanism to enhance offshore RMB liquidity and increase the supply of RMB-related products [5]. - Pillar Four: New Generation Infrastructure - Prepare infrastructure for the future of fixed income and money markets [5]. - Support the development of new electronic trading platforms [5]. - Promote market innovation and implement use cases for tokenized fixed income and currency products [5]. Group 2: Implementation and Future Plans - The roadmap was developed after extensive consultation with industry participants and will serve as a blueprint for the SFC and HKMA's policy-making and implementation over the coming years [7][8]. - The SFC plans to promote repurchase transactions, particularly for offshore government bonds, and is working on establishing a central clearing counterparty system for these transactions [11]. - The HKMA aims to enhance the primary market for bonds, continuing to attract issuers to use Hong Kong as a fundraising hub [12]. - The HKMA will also focus on expanding offshore RMB business and improving liquidity arrangements, while developing future-oriented digital financial infrastructure [13].

Core Viewpoint - The Hong Kong Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) have jointly released a "Roadmap for the Development of Fixed Income and Money Markets," aiming to position Hong Kong as a global hub for fixed income and currency markets through strategies that enhance demand, liquidity, and innovation [1][5]. Group 1: Key Pillars and Measures - The roadmap outlines four key pillars and ten measures to enhance Hong Kong's fixed income and money markets [2]. - Pillar 1: Promote Issuance - Lead market development through government bond issuance [2]. - Promote Hong Kong's advantages to target issuers and investors [2]. - Expand the investor base, including family offices, funds, and corporate treasury centers [2]. - Pillar 2: Increase Liquidity - Implement an over-the-counter fixed income and currency derivatives system [2]. - Promote the development of a central counterparty for repurchase transactions in Hong Kong [2]. - Pillar 3: Expand Offshore RMB Business - Increase the application of offshore RMB [2]. - Improve connectivity mechanisms to enhance offshore RMB liquidity and increase the supply of RMB-related products [2]. - Pillar 4: New Generation Infrastructure - Prepare infrastructure for the future of fixed income and money markets [2]. - Support the development of new electronic trading platforms [2]. - Promote market innovation and implement use cases for tokenized fixed income and currency products [2]. Group 2: Implementation and Future Plans - The roadmap, developed after extensive consultation with industry participants, will serve as a blueprint for the SFC and HKMA's policy-making and implementation over the coming years [5]. - The SFC is working on facilitating the listing of government bond futures in Hong Kong and is collaborating with the industry to establish a central counterparty clearing system for repurchase transactions [6][7]. - The HKMA aims to enhance the primary market for bonds, expand offshore RMB business, and develop future-oriented digital financial infrastructure [8].

Core Insights - The Hong Kong Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) jointly released a "Roadmap for the Development of Fixed Income and Money Markets" focusing on four pillars: enhancing bond issuance, improving secondary market liquidity, expanding offshore RMB business, and building new infrastructure [1][2] Group 1: Bond Market Development - The HKMA plans to expand offshore RMB business, including improving liquidity arrangements and providing new tools, with specific details on cross-border repurchase agreements to be announced soon [1] - The daily trading net limit for the "Swap Connect" has been significantly increased from 20 billion RMB to 45 billion RMB, reflecting strong demand from international investors to manage RMB interest rate risks [1][2] Group 2: Repurchase Transactions - The People's Bank of China announced support for foreign institutions to participate in the domestic repurchase market, allowing international investors in the "Bond Connect" northbound to repatriate RMB funds raised in the domestic repurchase market [2] - The SFC aims to promote repurchase transactions, particularly for offshore government bonds in Hong Kong, and will explore the feasibility of establishing a central counterparty clearing mechanism [2][3] Group 3: Tokenized Products - Hong Kong has approved five publicly offered tokenized currency funds and continues to receive new applications, with regulatory support for the tokenization of bonds and other investment products [3] - The first batch of tokenized bonds was issued in February 2023, totaling 100 million USD, and a second batch of 750 million USD is set for February 2024, marking Hong Kong's position in the global tokenized bond market [3] - The HKMA is preparing for the issuance of a third tokenized bond, aiming for a breakthrough in the near term [3] Group 4: Government Commitment - The "Roadmap" was developed over nearly a year through consultations with industry stakeholders and reflects the Hong Kong government's commitment to advancing the fixed income market, with all ten measures included in this year's policy report [3]

Core Insights - The Hong Kong Securities and Futures Commission (SFC) and the Monetary Authority (HKMA) released a "Roadmap for the Development of Fixed Income and Money Markets" on September 25, outlining strategic directions for market growth [1] Group 1: Roadmap Overview - The roadmap details specific pathways for enhancing the fixed income and money markets in Hong Kong [1] - It aims to improve market infrastructure, increase product diversity, and attract more international investors [1] Group 2: Market Reactions - Initial feedback from the capital markets indicates a positive reception, with stakeholders expressing optimism about the potential for increased liquidity and investment opportunities [1] - Industry experts highlight the importance of this initiative in positioning Hong Kong as a leading financial hub in Asia [1]

Core Viewpoint - The Hong Kong Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) have jointly released a "Roadmap for the Development of Fixed Income and Currency Markets" to strategically position Hong Kong as a global hub for fixed income and currency markets [1][2] Group 1: Key Measures and Initiatives - The roadmap outlines four key pillars: primary market issuance, secondary market liquidity, offshore RMB business, and next-generation infrastructure [1] - Ten initiatives are proposed to consolidate Hong Kong's existing advantages, including attracting issuers to use Hong Kong as a fundraising hub and providing risk management and liquidity management tools [1] - The roadmap emphasizes the need to enhance the scale and liquidity of offshore RMB usage and to develop new financial infrastructure to empower market innovation [1] Group 2: Stakeholder Engagement and Future Directions - A forum titled "Hong Kong Fixed Income and Currency Forum 2025" was successfully held to discuss opportunities, challenges, and new trends in the global fixed income and currency markets, gathering senior government officials and financial institution leaders [1] - The SFC Chairman highlighted the importance of the fixed income and currency market as a key driver for global capital flow, which significantly impacts Hong Kong's international standing and long-term development [2] - The HKMA President stated that the roadmap will guide efforts to strengthen Hong Kong's position as a leading offshore RMB business hub while promoting innovation in response to market changes [2]

社交媒体最近流传，全球首个与离岸人民币挂钩的稳定币已经在香港发行。对此，9月24日晚间，香港金融管理局辟谣称，"请留 意，相关消息为假新闻！现时没有离岸人民币稳定币在香港发行。" 香港金管局表示，会监察市面上涉及稳定币交易的情况，若发现有涉嫌违反《稳定币条例》的行为，将会根据相关事实和证据，考 虑采取进一步跟进行动。 香港金管局呼吁公众，可关注其正式公告，核实有关稳定币发行人的牌照状况。香港金管局将会在官方网站持续更新持牌发行人名 单。目前，香港金管局网站显示，尚未有持牌的稳定币发行人。 据悉，香港《稳定币条例》于2025年8月1日正式生效，任何人在业务过程中于香港发行法币稳定币，或向香港公众积极推广其发行 活动，均需要获得金管局发出的稳定币发行人牌照。 "请注意，目前金管局尚未发出任何稳定币发行人牌照。因此，任何人进行稳定币发行或宣传推广行为，均属违法。"香港金管局提 醒，"如果有人向你宣传推广稳定币，请必须保持警惕。" | 持牌人名称及主要营业地点的地址 | 电子邮箱地 | 牌照编号 | 生效日期 | | --- | --- | --- | --- | | (按笔划及英文字母排序) | 址 | | (日/ ...

格隆汇9月25日｜美国SEC主席Paul S. Atkins在《Mornings with Maria》节目中表示，SEC正与CFTC密切 合作，推动市场结构立法，包括联合圆桌会议和未来联合规则制定。他指出，需为加密资产市场提供明 确监管框架，并提出创新豁免以支持链上资本市场发展。此外，SEC将审视IPO报告要求及零售投资者 参与私募市场的多样化机会。 ...

香港金管局最新提醒。 9月24日，香港金融管理局（以下简称"香港金管局"）发布提醒称， 社交媒体最近流传，全球首个与离岸人民币挂钩的稳定币已经在香港发行。 请留意，相关消息为假新闻。 香港金管局表示，《稳定币条例》于2025年8月1日正式生效，任何人在业务过程中于香港发行法币稳定币，或向香港公众积极推广其发行活动， 均需要获得金管局发出的稳定币发行人牌照。 目前金管局尚未发出任何稳定币发行人牌照。因此，任何人进行稳定币发行或宣传推广行为，均属 违法。 转载与合作可联系证券时报小助理，微信ID：SecuritiesTimes 点击关键字可查看 潜望系列深度报道丨 股事会专栏 丨 投资小红书 丨 e公司调查 丨 时报会客厅 丨 十大明星私募访谈 丨 利好！八部门，重磅部署！ 丨 6000亿 元！央行，明日操作！ 丨 尾盘异动！002475，冲击涨停 丨 大涨！阿里大消息：联手英伟达！ 丨 半导体，集体爆发！科创50指数，表现亮 眼！ 丨 阿里巴巴，盘中重大宣布！股价拉升！ 丨 深夜！中概股大跌！美联储，大消息！ 丨 15连板！605255，停牌核查！ 丨 "9.24"一周年！ A股十大变化，一图看懂→ 丨 刚刚！ ...

9月24日，香港金融管理局发布通知强调，当前没有离岸人民币稳定币在香港发行。 "请注意，目前金管局尚未发出任何稳定币发行人牌照。因此，任何人进行稳定币发行或宣传推广行为，均属违法。如果有人向你宣传推广稳定币，请必 须保持警惕。"香港金管局表示，会监察市面上涉及稳定币交易的情况，若发现有涉嫌违反《稳定币条例》的行为，会根据相关事实和证据，考虑采取进 一步跟进行动。 香港金融管理局表示，社交媒体最近流传，全球首个与离岸人民币挂钩的稳定币已经在香港发行。相关消息为假新闻！ 香港金管局同时称，公众可密切留意金管局的正式公告，核实有关稳定币发行人的牌照状况。金管局也会于网站持续更新持牌发行人名单。 香港金管局提醒，《稳定币条例》于2025年8月1日正式生效，任何人在业务过程中于香港发行法币稳定币，或积极向香港公众积极推广其发行活动，均需 要获得金管局发出的稳定币发行人牌照。 | 持牌人名称及主要营业地点的地址 | 电子邮箱地 | 牌照编号 | 生效日期 | | --- | --- | --- | --- | | (按笔划及英文字母排序) 址 | | | (日/月/年) | | 现时尚未有持牌的稳定币发行人,此列表将会适 ...

Core Viewpoint - The Hong Kong Monetary Authority (HKMA) has issued a warning regarding false news circulating on social media about the issuance of the world's first offshore renminbi-linked stablecoin in Hong Kong, urging the public to be cautious and not to trust misleading information [1]. Group 1 - The HKMA emphasized that the Stablecoin Regulation will officially take effect on August 1, 2025, and any entity issuing fiat stablecoins or actively promoting stablecoin issuance to the public in Hong Kong must obtain a stablecoin issuer license from the HKMA [1]. - Currently, the HKMA has not issued any stablecoin issuer licenses, making any related issuance or promotional activities illegal [1]. - The HKMA will continue to monitor the market for stablecoin trading activities and will consider further actions if any violations of the Stablecoin Regulation are detected [1]. Group 2 - The HKMA encourages the public to closely monitor its official announcements and verify the licensing status of stablecoin issuers through the HKMA's official website to avoid losses due to false information [1].