The People’s Bank of China will introduce a series of measures to boost the development of yuan-denominated bonds in Hong Kong, according to Deputy Governor Zou Lan. Speaking at a financial forum on Thursday, Zou said the central bank will support foreign institutions in conducting repo transactions to improve yuan bond utilisation. Plans also include expanding the pool of Swap Connect market makers, raising the daily net trading limit, and accelerating the launch of yuan-denominated government bond futures. “Chinese yuan bonds have proven to be a good way for preserving and growing investment value,” Zou said, adding they offer “strong diversification benefits” from a risk management perspective. He noted that the global appeal of China’s bond market has grown significantly in recent years. The measures aim to deepen offshore yuan liquidity and reinforce Hong Kong’s role as a key international financial hub.
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