Hong Kong 2018-19 Budget: measures to further develop Hong Kong's bond market
On 28 February 2018, the Financial Secretary announced a series of measures to further develop Hong Kong’s bond market in the 2018-19 Budget (the "2018 Budget"). The government have said that they will set aside a dedicated provision of HK$500 million to develop the financial services industry in the next five years. Below is a summary of the proposed measures which include the launch of a pilot bond grant scheme (the "Bond Grant Scheme") to promote corporate bond issuances in Hong Kong and a green bond grant scheme (the "Green Bond Grant Scheme") to promote green bond issuances in Hong Kong. These initiatives are part of the government’s plans to enhance their competitiveness in the bond market and are still subject to implementation. It is expected that further announcements on timing and other eligibility criteria will be made in due course.
Read the full summary on Hong's Kong 2018-19 Budget.