Pan Gongsheng: Speech - Hong Kong FIC and Bond Connect Summit
Speech by Mr Pan Gongsheng, Governor of the People's Bank of China, at the Hong Kong FIC and Bond Connect Summit, jointly hosted by the Hong Kong Monetary Authority, the Securities and Futures Commission, Hong Kong Exchanges and Clearing Limited and Bond Connect Company Limited, Hong Kong, 7 July 2026.
Mr. Pan Gongsheng, Governor of the People's Bank of China, delivered a speech at the Hong Kong FIC and Bond Connect Summit, organized by various financial and regulatory bodies in Hong Kong. The summit took place on July 7, 2026, and marked a significant moment in the financial sector of the city. Mr. Gongsheng expressed his delight at the continued growth and success of Hong Kong's financial markets over the past year and a half.
He noted the strong increase in initial public offerings (IPOs), bond market issuance, and overall market activity. The bond market saw a rapid growth in issuance volume, with the outstanding balance of Dim Sum bonds reaching a record high. The offshore RMB market also became the largest in this regard, with Hong Kong serving as a vital center for RMB loans and sovereign bond issuances.
In wealth management, Hong Kong has established itself as the world's largest cross-border wealth management hub, attracting a multitude of international investors and issuers. Mr. Gongsheng credited the strong support of the Central Government and the Hong Kong Special Administrative Region (SAR) Government, as well as the collaboration between the People's Bank of China (PBOC) and various financial regulatory authorities and market institutions.
He highlighted the PBOC's introduction of several pragmatic measures, including Bond Connect, Shanghai-Hong Kong Stock Connect, and Cross-boundary Wealth Management Connect, which have contributed to Hong Kong's development as an international financial center. Mr. Gongsheng also emphasized Hong Kong's unique advantages, such as its open business environment, advanced capital markets, and a strong legal system.
Additionally, the city's close ties with the Chinese mainland have provided stability and opportunities for growth. With China's continued role as a key driver of global economic growth and its focus on innovation, Hong Kong's financial markets are well-positioned to maintain their prominence and attract further international investment.
Written by urgent.news from BIS Central Bank Speeches's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
