Core Viewpoint - Hong Kong aims to establish itself as a global hub for fixed income and currency products, with a focus on enhancing market depth and breadth through a comprehensive development roadmap [1][3]. Group 1: Development Initiatives - The Hong Kong government, through the Securities and Futures Commission and the Monetary Authority, has released a roadmap outlining 10 specific measures to enhance the fixed income and currency markets [3]. - The roadmap focuses on four key areas: primary market issuance, secondary market liquidity, offshore RMB business, and next-generation financial infrastructure [3]. Group 2: Market Growth and Position - Over the past 15 years, the average annual growth rate of international bond issuance in Asia has been 16%, significantly higher than the global average [3]. - Hong Kong has established itself as a leading international bond issuance hub in Asia, accounting for nearly 30% of the region's international bond issuance, with green and sustainable bonds making up about 45% of this total [3]. Group 3: Offshore RMB Market - The issuance of RMB "dim sum bonds" in Hong Kong reached 1 trillion RMB last year, nearly doubling from 2021, indicating a growing demand for RMB-denominated products in the international market [4]. - Future plans include enhancing the connectivity mechanisms and expanding RMB product offerings, with the aim of introducing offshore government bond futures and other risk management tools [4]. Group 4: Financial Infrastructure Upgrades - The Hong Kong Monetary Authority is collaborating with the Hong Kong Exchanges and Clearing Limited to centralize the management and collateralization of various assets on a single platform [4]. - The Securities and Futures Commission is exploring the feasibility of an electronic bond trading platform and promoting the establishment of a commercial repurchase market and central counterparty system to improve market liquidity and efficiency [4].