In briefHKMA Exchange Fund Bills Tender Results (27 October 2026)
SummaryThe Hong Kong Monetary Authority published the results of its 27 October 2026 Exchange Fund Bills tender for two issues: Q2643 (maturing 27 January 2027) and H2672 (maturing 28 April 2027). The notice lists amounts applied and allotted, accepted yields and pro rata ratios. It also gives the amounts on offer for the two tenders scheduled for the week beginning 2 November 2026.
In briefSFC approves first-ever secondary trading of tokenised public funds
SummaryThe Hong Kong Securities and Futures Commission (SFC) has approved secondary market trading of tokenised public funds. It is the first such approval of this kind.
In briefHKMC Interim 2026 Results Highlights
SummaryThe Hong Kong Mortgage Corporation Limited released highlights of its unaudited interim results for the first half of 2026. Consolidated profit after tax was HK$3.0 billion, up from HK$53.3 million a year earlier, driven by a reversal of reverse mortgage accounting losses, a narrower annuity business loss and higher Exchange Fund investment income. Adjusted profit after tax was HK$1,083 million and the capital adequacy ratio stood at 18.6%.
In briefResults of the 23 October 2026 RMB sovereign bond tenders
SummaryThe HKMA published the results of its October 23, 2026 tenders of RMB sovereign bonds issued by China's Ministry of Finance. Four further issuances were offered: 2-year, 3-year, 5-year and 10-year bonds. The results list each bond's coupon rate, application and issue amounts, and accepted price range, with issue and settlement on October 27, 2026.
In briefHKMA names new Primary Liquidity Providers and expands PLP Scheme
SummaryThe HKMA has designated twelve banks as Primary Liquidity Providers for the offshore renminbi (CNH) market for a two-year term from 27 October 2026. The total RMB repo facility for PLPs will rise from RMB20 billion to RMB22 billion to enhance liquidity support for the offshore RMB market. The HKMA will regularly review the scheme's operation and the PLPs' performance.
In briefSFC starts MMT action against GEM-listed Taste•Gourmet executives over alleged manipulation tied to Main Board transfer
SummaryThe Securities and Futures Commission has commenced Market Misconduct Tribunal proceedings against top executives and associates of GEM-listed Taste•Gourmet. The action concerns an alleged manipulation scheme linked to the company's proposed transfer to the Main Board.
In briefResults of 2-year RMB HKSAR institutional bond re-opening tender
SummaryThe HKMA, on behalf of the HKSAR Government, reported the results of a tender re-opening an existing Infrastructure Bond Programme bond (issue 03GB2807001) on 22 October 2026. RMB0.75 billion was offered against RMB7.450 billion of applications, a bid-to-cover ratio of 9.93. The average accepted price was 100.33, equal to an annualised yield of 1.401%.
In briefResults of the 3-year HKD HKSAR Institutional Government Bonds tender via re-opening
SummaryThe HKMA, on behalf of the HKSAR Government, held a tender on 21 October 2026 for 3-year HKD institutional Government Bonds by re-opening an existing bond under the Infrastructure Bond Programme. HK$0.75 billion was offered against HK$3.537 billion in applications, a bid-to-cover ratio of 4.72. The average accepted price was 98.38, equal to an annualised yield of 3.821%.
In briefResults of 10-year HKD HKSAR institutional government bond re-opening tender
SummaryThe Hong Kong Monetary Authority, on behalf of the HKSAR Government, announced the results of a 21 October 2026 tender of 10-year HKD government bonds through re-opening issue 10GB3507001 under the Infrastructure Bond Programme. HK$1.25 billion was offered against HK$4.030 billion in applications, a bid-to-cover ratio of 3.22. The average accepted price was 93.06, equivalent to a 4.164% yield.
In briefMinistry of Finance issues renminbi sovereign bonds via HKMA's Central Moneymarkets Unit (tender notice)
SummaryChina's Ministry of Finance will issue renminbi sovereign bonds through the HKMA's Central Moneymarkets Unit (CMU), with tender notice, information memorandum and related materials attached. The notice sets out additional tenders of bonds due 2028, 2029, 2031 and 2036, to be held on 23 October 2026 and settled on 27 October 2026.
In briefExchange Fund Bills tender results for 20 October 2026
SummaryThe Hong Kong Monetary Authority reports results of its 20 October 2026 tender of Exchange Fund Bills across three maturities. For each issue it lists the amount applied and allotted, average and highest accepted yields, and average tender yield. The notice also sets out three upcoming Exchange Fund Bill tenders scheduled for 27 October 2026, with issue and maturity dates and amounts on offer.
In briefSFC welcomes re-appointment of Non-Executive Directors
In briefSFC welcomes HKEX's proposal to introduce T+1 settlement in Hong Kong's stock market
SummaryThe Securities and Futures Commission (SFC) of Hong Kong has welcomed a proposal from Hong Kong Exchanges and Clearing (HKEX) to implement T+1 settlement in the local stock market. The press release was issued on 16 October 2026.
In briefSpeech by Kelvin Wong at IFAPC’s 25th anniversary and Outstanding Listed Companies Award 2026
SummaryThis is a Hong Kong SFC press release containing remarks by Kelvin Wong at the 25th anniversary of the Investor and Financial Public Relations Association (IFAPC) and its Outstanding Listed Companies Award 2026 presentation.
In briefHKMA launches “ART” Framework to encourage responsible AI use in banking
SummaryThe Hong Kong Monetary Authority has announced the “ART” Framework, which supports responsible adoption of artificial intelligence in banking around Accountability, Resilience and Trust. Key initiatives include updated supervisory guidance, an AI training data sharing platform developed with Cyberport and the University of Hong Kong, and further testing of agentic AI applications. A discussion paper on a proposed supervisory framework for agentic AI governance is forthcoming.
In briefHKSAR 2-year RMB institutional government bond re-opening tender on 22 October 2026
SummaryThe HKMA announced a tender on 22 October 2026 for 2-year RMB institutional government bonds, re-opening existing issue 03GB2807001 with RMB0.75 billion on offer and settlement on 26 October 2026. The bonds mature on 28 July 2028 and pay 1.59% annual interest semi-annually. Only Primary Dealers appointed under the Infrastructure Bond Programme may tender, and proceeds will fund infrastructure projects.
In briefHong Kong Academy of Finance opens applications for 2027 Financial Leaders Programme intake
SummaryThe Hong Kong Academy of Finance announces that applications for the 2027 intake of its Financial Leaders Programme open on 15 October and close on 4 December. The part-time programme targets high-potential senior financial executives one to two levels below CEO. It aims to develop future financial leaders for Hong Kong.
In briefHKMA welcomes launch of Chongqing-Hong Kong cross-boundary data validation platform for secure data checks without moving original documents
SummaryOn 14 October 2026, Chongqing and Hong Kong authorities launched the Chongqing-Hong Kong Cross-boundary Data Validation Platform (CQ-HK DVP), which uses blockchain technology and hash values to verify customer-submitted data without transferring or storing original documents across the border. The platform will initially support cross-boundary financial use cases, such as account opening and loan applications, building on the Shenzhen-Hong Kong platform.
In briefExchange Fund analytical accounts for end-September 2026
SummaryThe HKMA released the key analytical accounts of the Exchange Fund at end-September 2026, prepared under the IMF's Special Data Dissemination Standard (SDDS). Foreign assets fell by HK$76.7 billion to HK$3,576.0 billion during the month. The Monetary Base stood at HK$2,090.2 billion, claims on the Hong Kong private sector at HK$473.0 billion, and foreign liabilities at HK$135.3 billion.
In briefTender of 3-year HKD institutional government bonds via reopening, 21 October 2026
SummaryThe HKMA, on behalf of the HKSAR Government, will hold a tender on 21 October 2026 to sell 3-year HKD institutional government bonds by reopening existing 5-year bond 05GB2912001, with settlement on 22 October 2026. An additional HK$0.75 billion is on offer. The bonds mature on 5 December 2029 and pay 3.23% annual interest semi-annually in arrear.
In briefRe-opening tender of 10-year HKD HKSAR institutional government bonds on 21 October 2026
SummaryThe HKMA, on behalf of the HKSAR Government, announced a tender on 21 October 2026 re-opening the existing 10-year bond 10GB3507001 under the Infrastructure Bond Programme, with HK$1.25 billion on offer and settlement on 22 October 2026. The bonds mature on 24 July 2035 and pay 3.17% annual interest semi-annually. Tender is open only to appointed Primary Dealers, in minimum amounts of HK$50,000 or integral multiples thereof.
In briefSFC speech by Kelvin Wong at IOSCO World Investor Week 2026 keynote
SummaryDr Kelvin Wong of the Hong Kong SFC gave a keynote speech at the IOSCO World Investor Week 2026 financial literacy event. The event was hosted by HKEX, the Investor and Financial Education Council, CFA Institute and CFA Society Hong Kong. The speech, titled “Honing Investor Judgement in an Age of Digital Deception”, is posted on the SFC website.
In briefSFC recognises progress in sponsors’ work and urges sustained vigilance
In briefSFC acts against suspected IPO-rigging syndicates and suspends Baicha shares trading.
In briefHong Kong SFC strengthens targeted tools for IPO-related and other corporate misconduct
SummaryThe Securities and Futures Commission (SFC) has published its consultation conclusions and will amend the Securities and Futures (Stock Market Listing) Rules to strengthen tools for handling IPO cases and post-IPO matters. The amendments allow conditions on listing applicants and post-listing conditions on listed issuers as an alternative to immediate trading suspension, and streamline resumption procedures. A new independent merits review mechanism through the Securities and Futures Appeals Tribunal will also be introduced. The SFC expects the amendments to take effect in the first quarter of 2027, subject to the legislative process.
In briefSFC approves six registrars ahead of uncertificated securities regime
SummaryThe SFC approved six companies as approved securities registrars effective 16 November 2026, when the uncertificated securities market regime takes effect. Two of them, Computershare Hong Kong Investor Services Limited and Tricor Investor Services Limited, are approved to provide USM-related services and are the first such providers. Listed issuers must always have an ASR to maintain their register, and existing issuers must participate within five years.
In briefExchange Fund Bills tender results, 13 October 2026
In briefJulia Leung's keynote at ASIFMA's liquidity conference on Project Liquidity
SummaryJulia Leung, SFC Chief Executive, gave a keynote speech at ASIFMA's Future of Liquidity in Asia Pacific Capital Markets Conference. The speech, titled Project Liquidity, concerns engineering market infrastructure to unlock capital flows for Hong Kong. It is posted on the SFC website.
In briefSFC hosts IOSCO committee meeting on issuer accounting, audit and disclosure in Hong Kong
SummaryThe SFC hosted the plenary meeting of IOSCO's Committee on Issuer Accounting, Audit and Disclosure in Hong Kong from 5 to 8 October 2026, with subcommittee meetings included. More than 35 senior representatives from 21 securities regulators attended. Discussions covered modernising disclosure requirements to reduce reporting burdens for listed companies, new developments in financial reporting and auditing, and emerging issues such as technology, artificial intelligence and private equity investment in audit firms.
In briefSFC, AFRC and HKEX issue joint statement on disclaimers of opinion solely relating to going concern
SummaryThe Securities and Futures Commission, the Accounting and Financial Reporting Council and The Stock Exchange of Hong Kong Limited issued a joint statement on growing concerns about listed issuers publishing financial statements with a disclaimer of opinion solely relating to going concern. The statement sets out expectations for management, audit committees and auditors to improve the quality and reliability of financial reporting. The regulators will keep monitoring the situation and, if no significant improvement is seen, the Exchange will consider amending the Listing Rules, including suspending affected issuers.
In briefTentative schedule for HK institutional government bond issues and primary dealer appointments under two bond programmes
SummaryThe HKMA, on behalf of the HKSAR Government, published a tentative issuance schedule for institutional government bonds from October 2026 to March 2027. The bonds are denominated in HKD and RMB and sold through competitive tenders. The HKMA also re-appointed 13 financial institutions as primary dealers for the two-year period from October 2026 to September 2028.
In briefSFC to upgrade Hong Kong's retail fund rules
SummaryThe Securities and Futures Commission will implement changes to the Code on Unit Trusts and Mutual Funds governing SFC-authorised retail funds. The changes add a Value-at-Risk approach for derivative exposure, simplify requirements for management companies and feeder funds, and strengthen liquidity risk management and money market fund safeguards. The revised codes take effect on 1 November 2026, with a 12-month transition period for existing funds.
In briefInterest rate for the fourth payment on the 2027 Silver Bond Series
SummaryThe Hong Kong Monetary Authority announced, on behalf of the HKSAR Government, that the fourth interest payment on the Silver Bond Series due 2027 (Issue Number 03GB2710R) will be 4.00% per annum. Under the issue circular dated 30 September 2024, the rate is the higher of the prevailing Floating Rate and Fixed Rate, both set on 8 October 2026. The payment is scheduled for 23 October 2026.
In briefHong Kong brokers report strong first-half 2026 earnings growth
SummaryThe SFC's financial review shows Hong Kong's securities industry net profit rose 21% to $51.7 billion in the first half of 2026, before tax. Robust trading activity and higher client participation supported the growth. Brokers' total transaction value jumped 24% half-on-half to a record $149.0 trillion.
In briefHong Kong's latest foreign currency reserve asset figures released
SummaryThe HKMA reported official foreign currency reserve assets of US$433.0 billion at end-September 2026, down from US$442.8 billion at end-August. There were no unsettled foreign exchange contracts at either date. The total represents over five times the currency in circulation or about 35% of Hong Kong dollar M3.
In briefExchange Fund Bills Tender Results (6 October 2026)
SummaryThe HKMA published results for two Exchange Fund Bills tenders held on 6 October 2026. Issue Q2640, maturing 6 January 2027, had HK$72,081 million allotted out of HK$205,280 million applied for. Issue H2669, maturing 7 April 2027, had HK$19,000 million allotted out of HK$58,235 million applied for. The notice also lists yields and pro rata ratios, and announces the amounts on offer for the tenders in the week beginning 12 October 2026.
In briefHKMA and Bank Negara Malaysia Strengthen Bilateral Cooperation
SummaryThe HKMA and Bank Negara Malaysia held a high-level bilateral meeting in Hong Kong on 2 October, exchanging views on macroeconomic and financial developments, banking regulation, fintech, and capital market connectivity. The two institutions agreed to strengthen collaboration on fintech and digital assets, cross-border regulation, local currency usage and infrastructure linkages, and capital market connectivity.
In briefHKMA hosts Cargox Solution Day to promote regional trade data connectivity
SummaryThe Hong Kong Monetary Authority held the Cargox Solution Day on 5 October 2026, attended by over 300 industry professionals, to showcase progress in extending trade data connectivity from local to regional levels. The HKMA signed an MoU with the PAA Digital Trade Alliance to launch joint innovation projects on cargo and trade data connectivity between Hong Kong and PAA member economies. Under the Cargox Pilot Programme with the Shanghai Data Bureau, five pilot banks have used Yangtze River Delta trade declaration data, enabling ten trade finance loans totalling HK$180 million.
In briefHKMA grants restricted banking licence to BAKAI BANK Open Joint Stock Company
SummaryThe Hong Kong Monetary Authority announced it has granted a restricted banking licence under the Banking Ordinance to Bakai Bank, incorporated in the Kyrgyz Republic, effective 5 October 2026. Following this grant, Hong Kong has 17 restricted licence banks.
In briefHK SFC and Malaysia SC launch Single Submission Arrangement to simplify simultaneous listings
SummaryThe SFC and Securities Commission Malaysia have unveiled simplified procedures for simultaneous listings in Hong Kong and Malaysia. Under the Single Submission Arrangement, applicants seeking a primary listing in one market and a secondary listing in the other need only one listing application and one listing document. The aim is to reduce regulatory duplication and IPO-stage compliance costs, and both regulators have set up dedicated review teams.
In briefIP Financing Sandbox banks complete credit approval for first pilot cases
SummaryThe HKMA announced that participating banks in the IP Financing Sandbox have completed credit approvals for seven pilot cases across electronics, construction, toy manufacturing and medical devices. Loans range from HK$1 million to HK$39 million for working capital, expansion and marketing. The HKMA says the first batch shows the potential of using IP such as patents and trade marks to access financing.
In briefExchange Fund abridged balance sheet and currency board account, showing the fund's assets and the monetary base backing for August 2026.
SummaryThe HKMA reported that Exchange Fund total assets were HK$4,335.4 billion as at 31 August 2026, HK$68.3 billion lower than at the end of July 2026, mainly due to withdrawals of Fiscal Reserves placements. The Monetary Base was HK$2,080.2 billion at end-August 2026, up HK$0.1 billion from July. The Backing Ratio rose from 111.86% to 112.00%.
In briefInternational reserves and foreign currency liquidity data for end-August 2026
SummaryThe HKMA published analytical data on Hong Kong's foreign currency reserves and foreign currency liquidity as at end-August 2026. The data are released monthly in the SDDS template. The annex lists official reserve assets, predetermined short-term net drains, and contingent liabilities in US$ million.
In briefAugust 2026 Residential Mortgage Survey: HKMA monthly data on Hong Kong home loans
SummaryThe Hong Kong Monetary Authority released its residential mortgage survey for August 2026. Applications fell 8.3% month-on-month to 8,446, and approved loans fell 28.2% to HK$32.2 billion, while drawn-down loans rose 11.6% to HK$32.8 billion. Outstanding mortgage loans increased 0.6% to HK$1,975.4 billion at end-August, with a delinquency ratio of 0.11%.
In briefAugust 2026 Monetary Statistics from the Hong Kong Monetary Authority
SummaryThe HKMA released monetary statistics for August 2026, showing total deposits with authorized institutions rose 1.4% month-on-month and 7.3% year-to-date. Renminbi deposits fell 2.1% in August to RMB1,101.5 billion. The release notes that deposit changes are affected by factors such as interest rates and fund-raising, so longer-term trends are more meaningful than single-month fluctuations.
In briefSFC reprimands and fines Zheng Da $7 million, suspends its responsible officer's licence for seven months over AML breaches
SummaryThe Securities and Futures Commission reprimanded and fined Zheng Da International Financial Holding Limited $7 million for failing to comply with anti-money laundering and counter-financing of terrorism requirements between 1 December 2021 and 30 September 2023. Its responsible officer, Zhong Hao, was suspended for seven months, from 28 September 2026 to 27 April 2027. The SFC found the firm conducted no due diligence or testing on customer supplied systems used by 160 clients and did not properly monitor deposits and suspicious trading in eight client accounts.
In briefSFC updates industry on scam prevention and cybersecurity
SummaryOn 29 September 2026, the Securities and Futures Commission hosted a Brokers’ Forum for over 600 industry participants. It covered the latest supervisory observations and regulatory updates on cybersecurity and anti-scam measures. The forum included a panel discussion with police, investor education and industry representatives, plus a police briefing on cyber resilience in brokerage.
In briefExchange Fund Bills tender results and upcoming auctions
In briefHKMA's September 2026 Half-Yearly Report on monetary and financial stability
SummaryThe HKMA published its Half-Yearly Monetary and Financial Stability Report on 29 September 2026. It analyses the global and local economy, Hong Kong's monetary and financial conditions, and examines recent performance and risks in the local banking sector. The report is available on the HKMA website.
In briefHKSAR Government's fourth digital green bond offering
SummaryThe Hong Kong SAR Government priced about HK$20 billion of digital green bonds in HKD, RMB, USD and EUR under its Government Sustainable Bond Programme. Subscription ratios across the four currencies ranged from 1.3 to 11.3 times. The HKD tranche settled using tokenised deposits, and the issuance adopted the ICMA Bond Data Taxonomy version 2.01.
In briefKelvin Wong speech at SFC and AFRC MoU signing ceremony
SummaryDr Kelvin Wong delivered a speech titled “Enhanced SFC-AFRC Partnership: A Living Framework to Bolster Market Confidence” at the memorandum of understanding signing ceremony between the SFC and the Accounting and Financial Reporting Council. The speech is posted on the SFC website.
In briefHong Kong regulators sign new pact extending financial reporting cooperation to licensed firms and funds
SummaryThe SFC and AFRC signed a new Memorandum of Understanding expanding their cooperation beyond listed entities to cover financial and compliance reporting by licensed corporations, licensed virtual asset service providers, authorised funds and registered open-ended fund companies. It also covers related audit and assurance work. The MoU sets out a framework for information sharing, case referrals, mutual assistance and coordinated inspections and investigations, and supersedes the 2021 MoU with the former Financial Reporting Council.
In briefBanks further extend loan repayment grace period for Tai Po Fire victims
SummaryThe HKMA and HKAB announced a further extension of credit support for individuals affected by the Tai Po fire. All 28 retail banks will extend repayment grace periods (principal and interest) on existing mortgages, personal loans and credit card loans by six months, to the end of May 2027. Banks handling Wang Fuk Court mortgages will also flexibly extend grace periods on original loans until newly purchased units are ready for intake.
