The Northbound Exchange was officially launched on May 15!
Swap Connect is a new initiative of the Hong Kong Stock Exchange's interconnection mechanism, and it is also the world's first interconnection mechanism of the derivatives market.
In the initial stage of implementation, investors can trade and settle onshore RMB interest rate swap products through the Northbound Swap Link without changing their usual trading and settlement habits.
The Swap Link is jointly operated by China Foreign Exchange Trade System, Shanghai Clearing House and Hong Kong OTC Clearing Limited, a subsidiary of the Hong Kong Stock Exchange.
PART 01
A new milestone in the cooperation between Hong Kong and the Mainland
Yu Weiwen, President of the Hong Kong Monetary Authority (HKMA), said: The launch of the Northbound Swap is another new milestone in the financial cooperation between the two places. It will provide favorable conditions for international investors to further participate in the domestic bond market, and will help enhance the popularity of RMB bonds in the international market. The recognition and confidence of investors are of special significance.
At the same time, the Northbound Swap Link also provides new opportunities for financial institutions in Hong Kong, consolidating Hong Kong's status as an international risk management center and offshore RMB hub.
PART 02
Enhance Hong Kong's status as an international financial center
On the first day of its opening, the Swap Link was warmly welcomed by foreign investors. A total of 27 overseas institutions concluded onshore RMB interest rate swap contracts through the Swap Link, involving a nominal value of about 8.259 billion yuan.
Chief Executive Lee Ka-chao said that the Northbound Swap is the first time to introduce interconnection arrangements in the field of financial derivatives. The new measures will provide international investors with richer investment and risk management tools, and strengthen Hong Kong's position as the world's largest offshore RMB business center and international risk management center.
Li Jiachao went on to say that in March this year, the Shanghai-Shenzhen-Hong Kong Stock Exchange further expanded the scope of eligible securities for the Shanghai-Shenzhen-Hong Kong Stock Connect, including the inclusion of eligible overseas companies primarily listed in Hong Kong into the Hong Kong Stock Connect to facilitate the diversification of mainland and international investors. It will also help attract more high-quality foreign companies to list in Hong Kong and enhance Hong Kong's competitiveness as an international financing platform.
PART 03
Embrace Huge Market Opportunities
In recent years, Hong Kong has attracted many high-net-worth individuals to emigrate by virtue of its international financial center and the charm of an international metropolis.
With the strong support of national policies and the combination of Hong Kong's own advantages, Hong Kong's status as an international financial center will continue to be consolidated and improved, which can further help investors to go to a broader market and harvest global opportunities.
At the same time, Hong Kong's superior geographical location, good business environment, free and open market, and sound legal system can better help high-net-worth individuals optimize asset allocation and improve asset efficiency. Therefore, planning Hong Kong identity has become the best choice for many successful people.
With the recent expansion of Hong Kong's "talent list", now is a good time to plan your Hong Kong identity! If you are also interested in planning a Hong Kong identity, please contact Xingyunhai International! ! !
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