Hong Kong Maps Out 10-Point Plan for Bonds, Liquidity, and Tokenization

• Hong Kong roadmap revives tokenized bonds under a 10-step development plan.
• HKMA stablecoin licensing begins, aligning regulated crypto cash legs.
• RMB liquidity and issuance form core pillars of the roadmap push.

Regulators in Hong Kong laid out ten measures to boost bond issuance, deepen RMB markets, and advance tokenized assets. The plan ties in a third batch of tokenized green bonds and a new stablecoin licensing regime, signaling how the city wants to anchor its role in digital finance.

A Roadmap With Four Pillars

Hong Kong’s Securities and Futures Commission (SFC) and the Monetary Authority (HKMA) released a Fixed Income and Money Market Roadmap. The framework rests on four pillars – expand issuance, strengthen secondary-market liquidity, grow offshore renminbi capacity, and build next-gen infrastructure.

Since 2019, Hong Kong has already issued HK$3…

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