Supported by

Date: 26 March 2024 
Time: 09:00 - 12:30 HKT
Location: Hong Kong Monetary Authority, 56/F, Two International Finance Centre, 8 Finance Street, Central, Hong Kong / virtual


After many years of growth, the international bond markets in Asia experienced a difficult year in 2022 but started to recover in 2023. The debt capital market is undergoing fundamental shifts in structure due to macroeconomic trends and the rise of sustainable finance. In particular, recently announced cooperative measures between Hong Kong and mainland financial authorities, ongoing reforms in the onshore Chinese market, and continued development of the Connect schemes all provide promising new opportunities to further enhance and deepen cross-border markets.

This event explored some of the latest developments in the regional primary and secondary fixed income securities markets, and highlighted Hong Kong’s unique role to facilitate international participation. Speakers included key regulators from Hong Kong and China, as well as major investors, intermediaries, lawyers, and other experts in the regional bond markets.         

This event was conducted in English and Chinese with simultaneous translation.        

This hybrid event was free to attend and open to ICMA members and interested market participants.


Please note that the programme is subject to change.

9:00   Welcome remarks
Bryan Pascoe, Chief Executive, ICMA
9:05   Keynote speech
Darryl Chan, Deputy Chief Executive, Hong Kong Monetary Authority
9:15   Presentation on trends in the Asian international bond market 
• Primary market issuance dynamics
• Sustainable finance issuance trends
• Secondary market dynamics and liquidity
• Repo and hedging markets; electronic trading 
Andy Hill, Senior Director, Market Practice and Regulatory Policy, ICMA
Mushtaq Kapasi, Managing Director, Chief Representative, ICMA Asia-Pacific
9:35   Panel 1 – Innovations and outlook for Asia international bond markets 
• Sustainable finance, including transition finance and blended finance   
• Fintech and digital bonds                                                               
• Global macroeconomic policy and market resilience reforms             
• Secondary market dynamics 

Frances Yoon, Financial Journalist 
  • Ben Yuen, Chief Investment Officer, BOCHK Asset Management Limited
  • Judy Li, Partner, Sustainability Services, Ernst & Young Hua Ming LLP 
  • Tracy Wong HARRIS, Head of Sustainable Finance Asia, Standard  Chartered Bank 
  • Zhi Xu, Head of Global Capital Financing Department, ICBC Asia                           
10:20   Coffee break
10:55   Presentation: Hong Kong as a Premier Regional Bond Hub
Daniel Leong, Division Head, External Department, Hong Kong Monetary Authority
11:15   Presentation on Chinese repo market structure, dynamics, opportunities
Ting Zhang, Deputy General Manager, ChinaBond Collateral Management Service Center, CCDC
11:25   Panel 2 – The Chinese cross-border debt securities market: infrastructure, opportunities, and next steps for internationalisation
• Evolution of market structure and infrastructure
• Evolution of regulation and market practice
• Potential uses and benefits of cross-border repo
• Role of Hong Kong as a center for market internationalisation and RMB collateral fluidity
Ricco Zhang, Senior Director, ICMA Asia-Pacific
  • Candy Ho, Managing Director, Head of Business Development, Markets and Securities Services, Asia Pacific, HSBC
  • James Sun, Head of Asia, Tradeweb
  • Minny Siu, Partner, King & Wood Mallesons
  • Tony Wang, General Manager, Bond Connect
12:20   Closing remarks                                                                        
Mushtaq Kapasi, Managing Director, Chief Representative, ICMA Asia-Pacific
12:30   Event Close


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