Hong Kong is implementing a series of initiatives to strengthen its position as an offshore yuan hub. Chief Executive John Lee announced plans to expand the dim sum bond market, introduce yuan-denominated gold and commodity trading, and enhance financial integration with mainland China.
The dim sum bond market saw issuance reach RMB 1 trillion for two years through 2025, with outstanding bonds rising to approximately RMB 1.27 trillion in 2026, marking a growth of over 60%. The government intends to increase the frequency and scale of these issuances, supported by the Ministry of Finance.
The Hong Kong Exchanges and Clearing Limited will launch an Offshore RMB Bond Index to serve as a market benchmark. Additionally, offshore yuan lending in the city reached RMB 935 billion in 2025, and a new liquidity tendering mechanism is being introduced to further expand the pool.
A trial for a central gold clearing and settlement system commenced in July 2026, with a full launch scheduled for the first quarter of 2027. The city aims to increase its gold storage capacity to more than 2,000 metric tons by 2030, while collaborating with mainland exchanges on commodity trading.
In July 2026, the Southbound Bond Connect quota was increased by 60% to RMB 800 billion. Simultaneously, the RMB liquidity facility managed by the Hong Kong Monetary Authority was expanded to RMB 500 billion to support these financial objectives.
