Bond Connect's southbound trading launch date set

Bond Connect will expand mutual access between Hong Kong and China markets.

The People's Bank of China and the Hong Kong Monetary Authority issued a joint statement announcing that the southbound trading under Bond Connect will launch on 24 September.

Hong Kong Special Administrative Region welcomed this launch. Chief Executive Carrie Lam said, "Launching southbound trading under Bond Connect will complete the two-way connection of the bond markets, promote further mutual access between the two financial markets, set a new milestone for meeting the objectives laid down in the 14th Five-Year Plan, and reinforce Hong Kong's status as an international financial centre."

Moreover, Financial Secretary Paul Chan said, "Hong Kong has been striving to deepen the mutual market access with the Mainland to strengthen our role in connecting the financial markets in the Mainland and the rest of the world. The launch of southbound trading under Bond Connect will expand the product suite of the Connect family. It provides an effective channel for qualified onshore investors to make diversified asset allocation, and at the same time presents enormous opportunities for Hong Kong's financial industry."

Northbound trading under Bond Connect launched in July 2017. Southbound trading will allow Mainland investors to invest in Hong Kong's bond market between the financial infrastructure services institutions of the two places.