Building a World Top Green and Sustainable Bond Hub

US dollars HK dollars Chinese yuan (offshore) Euro Other currecny 57% 22% 10% 10% 1% Other venue Hong Kong Stock Exchange 57% 43% 19 Building a World Top Green and Sustainable Bond Hub As a world leader in arranging Asian international bond issuance, bonds issued in Hong Kong are highly diverse. Until the end of 2022, 57% of bonds came in US dollars in Hong Kong and bonds in Hong Kong dollars took up 22%. Bonds issues in offshore Chinese yuan and Euros accounted for only 10% respectively (Figure 15). Moreover, the Hong Kong Government successfully offered approximately 6 billion Hong Kong dollars digital green bonds under the Government Green Bond Program. These two-year bonds attracted institutional investors globally and were issued in Hong Kong dollars, Renminbi, US dollars, and Euros. International Green Bonds Issuance from Hong Kong (cumulative by the end of 2022) Figure 15: Diversified Green Bond Issuance in Hong Kong (Source: By the research team based on data from the CBI) Hong Kong has been the single largest Chinese offshore green bond market. In 2023, 43% of Chinese offshore green bonds were listed on the Hong Kong Stock Exchange (HKEX) (Figure 16). The city is the most popular destination for Chinese issuers to list their green bonds. Chinese Offshore Green Bond Listing (2023) Figure 16: Hong Kong as the Preferred Venue for Offshore Chinese Green Bond Listings (Source: By the research team based on data from the CBI)