• Important addition to China-related risk management tools offered by HKEX
• Supporting growth of Hong Kong’s RMB product ecosystem

Hong Kong Exchanges and Clearing Limited (HKEX) welcomes the announcement by the Securities and Futures Commission (SFC) on the target launch of 5-year China Government Bond (CGB) Futures in Hong Kong on 3 August 2026.

HKEX Chairman, Carlson Tong, said: “The debut of CGB Futures in Hong Kong with the 5-year tenor as the first contract marks an important milestone in the development of Hong Kong’s Fixed-Income and Currencies (FIC) ecosystem. We thank the regulators in Hong Kong and the Chinese Mainland for their staunch support, and we look forward to working closely with our partners and stakeholders to ensure the successful rollout of this new risk-management tool and further enhance two-way capital flows between China and the world.”

HKEX Chief Executive Officer, Bonnie Y Chan, said: “The launch of CGB Futures is another exciting step that enriches HKEX’s China-related product suite and FIC offering. Complementing Bond Connect and following the success of Swap Connect, these unique CGB Futures will provide investors of Chinese bonds with an efficient risk management tool, supporting the growth of Hong Kong’s RMB product ecosystem and cementing Hong Kong’s role as the world’s leading offshore RMB hub. We will continue to work with all stakeholders in building Hong Kong’s FIC ecosystem and enriching global investors’ options.”

More details about the CGB Futures will be announced in due course.

The launch of the contract, part of HKEX’s RMB and Mainland-related suite of products that includes Stock Connect, Bond Connect, Swap Connect and MSCI China A50 Connect Index Futures, will help regional and global investors interested in accessing the Chinese Mainland to more effectively manage their interest rate risks. This will support greater international participation in the domestic equities and fixed-income markets and further broaden investment and risk management opportunities in Hong Kong’s markets.

The launch of Bond Connect in 2017, part of HKEX’s unique mutual market access programme with the Chinese Mainland, was an important development in driving international participation in the Mainland’s bond market, whilst Swap Connect, which launched in 2023, allows international investors to tap the onshore RMB interest rate swap market. International investors’ onshore bonds holdings in the China Interbank Bond Market have grown steadily from RMB0.8 trillion in June 2017 to around RMB3.2 trillion at the end of May 2026.

Source: HKEX