HK$100 billion green bond plan to establish Hong Kong as global hub, says monetary authority
City is Asia’s fourth largest bond issuance centre after Japan, the mainland and South Korea
A planned HK$100 billion (US$12.74 billion) green bond programme and other initiatives are expected to encourage more issuances in Hong Kong by mainland China and overseas companies, which in turn are expected to raise the city’s profile globally, Hong Kong Monetary Authority executives and banking officials said during a media briefing on Monday.
Hong Kong is Asia’s fourth largest bond issuance centre after Japan, mainland China and South Korea.
Helen Wong Pik-kuen, chief executive for Greater China at HSBC, said at the briefing: “The Hong Kong government’s planned HK$100 billion green bond programme, which will be the world’s largest sovereign green bond issuance programme, will play an important role in establishing Hong Kong as an international green finance hub.”
She pointed out that 13 green bonds, issued in the city by the likes of Swire Properties, Bank of China, World Bank and others, had raised a total of US$5 billion.
Vincent Lee, executive director (external) at the HKMA, said: “We are confident bond issuances will increase in Hong Kong. We are positive about the ranking of Hong Kong as a bond issuance hub in Asia.”
