Kathmandu— Wu Qing, chairman of China's Securities Regulatory Commission (CSRC), has outlined a series of measures aimed at deepening practical cooperation between mainland China and Hong Kong in their capital markets. The initiatives include the introduction of offshore Renminbi (RMB) treasury bond futures in Hong Kong, which began on August 3, marking a significant milestone for the city's role as an offshore RMB business hub.

Introduction of Offshore RMB Treasury Bond Futures

The CSRC has launched offshore RMB treasury bond futures in Hong Kong, starting with five-year bond futures. This move is intended to provide international investors with more convenient and efficient tools for managing interest rate risks. Wu Qing emphasized that the introduction of these futures will help foreign capital hold Chinese bond assets with greater confidence and ease, promoting closer linkages between spot, futures, and derivatives markets in both mainland China and Hong Kong.

Supporting Cross-Border Indexes and ETFs

The CSRC plans to support index companies from both regions in launching more indices based on Chinese assets. This initiative aims to enhance the global influence of these indices and assets. Additionally, Wu Qing mentioned that industry institutions will introduce more exchange-traded fund (ETF) products based on both markets, further strengthening cross-border cooperation.

Enhancing Professional Talent Exchange

To better support outstanding professional talents working in both mainland China and Hong Kong, the CSRC is considering expanding the scope of mutual recognition of professional qualifications in the securities and futures sectors. This move will facilitate smoother talent exchanges between the two regions.

(With inputs from Xinhua)

Originally published on abcnews.com.np.