Offshore China government bond futures debut on HKEX

Web Desk August 3, 2026

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Offshore China government bond futures debut on HKEX

(From left) Joseph Chan Ho-lim, under secretary for financial services and the treasury of the Hong Kong Special Administrative Region government; Carlson Tong Ka-shing, chairman of Hong Kong Exchanges and Clearing Ltd; Paul Chan Mo-po, financial secretary HKSAR government; Wu Qing, chairman of the China Securities Regulatory Commission; Zhou Ji, director of the Liaison Office of the Central People’s Government in the HKSAR; and Kelvin Wong Tin-yau, chairman of the Securities and Futures Commission; attend the HKEX China Government Bond Futures Launch Ceremony at the Hong Kong Stock Exchange in Central on Aug 3, 2026. (ADAM LAM / CHINA DAILY)

Hong Kong Exchanges and Clearing – the special administrative region’s bourse operator – launched the 5-Year China Government Bond Futures on Monday, marking the first and only CGB futures contract available in the offshore market.

Each contract is valued at 500,000 yuan ($74,059) and is settled in renminbi. To encourage market participation, HKEX is offering a 50-percent discount on trading fees, reducing the cost to 2.5 yuan per contract through July 30, 2027.

Thirteen liquidity providers have been appointed for the launch, including five lenders – Bank of China (Hong Kong), Bank of Communications (Hong Kong), HSBC, ICBC (Asia) and Standard Chartered – as well as eight securities firms.

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HKEX said the new futures contract is aimed at meeting the growing demand from offshore investors for interest-rate risk management and trading tools.

It said the product represents a major step in strengthening Hong Kong’s position as an offshore renminbi hub and risk management center.