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Hong Kong Bond Market. Notes 1.Hong Kong “Government” Bonds are issued by Hong Kong Monetary Authority are known as Exchange Fund Bills & Notes. 2.Hong.

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Presentation on theme: "Hong Kong Bond Market. Notes 1.Hong Kong “Government” Bonds are issued by Hong Kong Monetary Authority are known as Exchange Fund Bills & Notes. 2.Hong."— Presentation transcript:

1 Hong Kong Bond Market

2 Notes 1.Hong Kong “Government” Bonds are issued by Hong Kong Monetary Authority are known as Exchange Fund Bills & Notes. 2.Hong Kong government owned corporations include MTR, KCRC, Airport Authority, HKMC. 3.Supranational Organizations that raise money in Hong Kong include World Bank, IFC, Asian Development Bank…

3 Hong Kong Bond Market by Issuer 2000

4

5 Notes 1.Hong Kong finance is dominated by banking and equity. Bonds lag behind. Why? 1.Specialized Markets (Lending to Real Estate Developers) 2.Corporate Governance 3.Lack of Benchmark

6 Outstanding Bank Loans vs. Bonds

7 Debt vs. Equity

8 Hong Kong & International Bond Market


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