Hong Kong, China regulators approve 'Bond Connect' scheme
18 May, 2017, 17:44 | Author: Ora Austin
Through the platform, Hong Kong will leverage its "role as an worldwide financial center, as well as an intermediary for capital flows between the mainland and global markets".
The rental gap between the most and least expensive grade A office buildings in Hong Kong can be as wide as HK$145 per square foot per month, which translates into annual rental savings of as much as HK$174 million for a tenant moving a 100,000 square foot office outside of Central, according to JLL.
They will collaborate with the Hong Kong Exchanges and Clearing (HKEX) and Central Moneymarkets Unit in establishing mutual bond market access between Hong Kong and mainland China.
A total of 473 overseas investors hold 800 billion yuan of outstanding investment in the interbank bond market. Foreign investors' holdings of Chinese onshore notes rose to 830 billion yuan (RM517.8 billion) in March, from 815 billion yuan in February, according to central bank data.
China Tuesday announced the approval of a bond connect program between the mainland and Hong Kong markets in the latest effort to support the financial hub and accelerate the country's opening up progress.
Similar trading programs linking Hong Kong to the Shanghai and Shenzhen stock markets launched in 2014 and 2016, respectively.
Authorities are seeking to counter outflows and win inclusion in global bond indexes.
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"The company is optimistic of the long term prospect of this investment", it said of the HK$23.28 billion purchase in a filing to the Hong Kong stock exchange.
"It will provide a new channel for Hong Kong and worldwide investors to invest in mainland China's bond market, which is the third-largest in the world and much undersold to global investors at the moment", said Benjamin Hung, chief executive for Greater China & North Asia at Standard Chartered.
The regulators said "Bond Connect" will follow the current framework for overseas participation in the China interbank bond market, meaning a range of foreign investors including pension funds, central banks and sovereign wealth funds would be eligible to trade Chinese government bonds, local government bonds, policy bank bonds and corporate debt instruments.
Henderson Land will finance the acquisition through its internal resources and bank funding, and plans to complete an office building, with some retail facilities, by 2022, the company said in a statement.
Reuters reported past year the Hong Kong stock exchange was in talks with Tradeweb, a fixed income trading platform, to connect to China's bond market, citing sources.
CFETS and HKEX will continue to work closely under the guidance of PBC and HKMA and together with the market entities and custodian and settlement institutions in both markets to prepare for the launch of Bond Connect.
He was visited by manager Terry Francona and a team trainer and walked off the field after a short conversation. "One's vexing. The Rays made it 6-0 in the third, as Morrison launched his team-leading 11th homer, and logged his team-high 27th RBI.
In 2015, the Indian high court also gave an exception to a 14-year-old rape victim who was past 20 weeks pregnant. He said it was a hard decision but concluded that the unborn baby is innocent just like the victim.
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The Red Bull Honda rider received some medical attention before being transferred to a nearby hospital for treatment. His WSBK team sent their best wishes to Hayden via Twitter and called for patience.
Voters also approved the school district's 2017 Capital Improvements Project, with 251 voting in favor and 78 voting against. The expenditure is temporary, since the library will eventually reimburse the school district when it sets up its own levy.
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Those wetlands, an Ohio EPA spokesman told ThinkProgress earlier this week, won't recover for decades. "It's just what happens". They must happen fairly often because according to Walsh, the state has 200 to 300 pipeline leaks every year.
Mr Comey shared the memos with close associates and senior Federal Bureau of Investigation officials. Comey or anyone else to end any investigation, including any investigation involving General Flynn".
The company is scheduled to report its next quarterly earnings results before the market opens on Tuesday, April 25th. A total of 8.61 million shares exchanged at hands and its average trading volume is standing at 15.33 million shares.
Trump has said a decision could come before he leaves Friday for the Mideast and Europe, his first overseas trip as president. I read the Washington Post story, and I read General McMaster's response, which tends to refute the story-rebut the story.
Allen himself has been an outspoken conservative, and during a March appearance on " Jimmy Kimmel Live!" ABC insists canceling "Last Man Standing" had nothing to do with Tim Allen's support of President Trump.
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Be proactive - Use the "Flag as Inappropriate" link at the upper right corner of each comment to let us know of abusive posts. This is not to say that the U.S. -Saudi relationship is not valuable or crucial in many respects.
Win for Reading in the promotion playoffs
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It was his 2nd win in 5 starts this year and the 55th of his career and it brought him within 6 points of Mr. He drove a good race and we did everything we could".