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 transcript:

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 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…

Hong Kong Bond Market by Issuer 2000

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

Outstanding Bank Loans vs. Bonds

Debt vs. Equity

Hong Kong & International Bond Market