HONG KONG - The Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) on Thursday unveiled a comprehensive "Roadmap for the Development of Fixed Income and Currency Markets," aimed at solidifying Hong Kong's position as a global FIC hub by fostering demand, liquidity, and innovation.

The roadmap outlines initiatives across four critical pillars, namely, primary market issuance, secondary market liquidity, offshore renminbi (RMB) business, and next-generation infrastructure. Formulated in close consultation with industry stakeholders, it serves as a guiding framework for the SFC and HKMA, shaping policy and implementation strategies to support the sustainable and diversified growth of Hong Kong's capital markets.

Among the 10 proposed initiatives, the roadmap seeks to attract more issuers to use Hong Kong as their fundraising hub while providing essential risk and liquidity management tools for both issuers and investors. It also places equal emphasis on breaking new ground by boosting offshore RMB usage and liquidity, as well as developing next-generation infrastructure to facilitate market innovation.

Kelvin Wong, chairman of the SFC, noted that "as vital engines for global capital flows, Hong Kong's FIC markets are central to the city's international stature and long-term development. The roadmap is poised to guide our market evolution that will benefit issuers, investors and intermediaries alike for years to come."

Eddie Yue, chief executive of the HKMA, emphasized the need to adapt to market changes.

"To position Hong Kong as a global FIC hub and further cement our position as the premier offshore RMB business center, we will continue to build on our strengths, adapt to market changes and innovate, and capitalize on emerging trends, including RMB internationalization and the digitalization of the FIC market."

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In a broader context, Hong Kong has once again been ranked as the world's freest economy, according to the Economic Freedom of the World 2025 Annual Report released by the Fraser Institute on Thursday.

Among the five areas of assessment, Hong Kong retains the top position in "freedom to trade internationally," while securing third place in "sound money" and "regulation," underscoring the city's advantages in free markets and its open, efficient business environment.

Moreover, the Global Financial Centers Index (GFCI) 38 report from Britain-based Z/Yen and the Shenzhen-based China Development Institute noted a four-point increase in Hong Kong's overall rating, which now stands at 764. This places Hong Kong third globally once again, while also retaining first place in the Asia Pacific. Notably, the rating gaps with New York and London have narrowed, reflecting growing competitiveness.

In the report, Hong Kong's ranking in fintech offerings leapt from fourth place to first in the world, and those in the areas of "business environment," "infrastructure," and "reputational and general" also rose further to first globally, while ranking second and third globally in "human capital" and "financial sector development" respectively.

In addition, Hong Kong ranked among the top in the assessments by practitioners in various financial industry sectors, among which it maintained the top three positions globally in the "banking," "investment management," "insurance," and "finance" sectors.

Hong Kong will, as always, continue to steadfastly uphold its status as a free port, maintain free trade policies and a simple, low tax regime, while ensuring the free flow of capital, information, goods and talent, fully leveraging its role as a "super connector" and "super value-adder," said a spokesperson for the Hong Kong Special Administrative Region (HKSAR) government.

The spokesperson reiterated that the city welcomes local and overseas enterprises and talent to invest and pursue business and career opportunities.

"Under the 'one country, two systems' framework, Hong Kong retains its unique advantages in connectivity, internationalization, diversity and inclusiveness. These strengths, combined with stable and predictable economic and financial policies, as well as an open, efficient and fair market environment, continue to attract global investors, enterprises and talent," the spokesperson said.

The strong performance of Hong Kong's stock market, sustained growth in bank deposits, and expanding asset and wealth management sectors are clear indicators of international investors' confidence in Hong Kong, the spokesperson said.

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The Hong Kong stock market has maintained its strong momentum. At the end of August, the cumulative amount of funds raised through IPOs exceeded HK$130 billion ($16.71 billion), nearly six times higher than that of the same period last year, ranking Hong Kong first globally in IPO fundraising.

In his newest policy address delivered this month, HKSAR Chief Executive John Lee also announced plans to expedite the development of new growth areas to reinforce Hong Kong's status as an international financial center, including the establishment of an international gold trading market.

Looking ahead, HKSAR will continue to proactively integrate into the overall national development plan and align with national development strategies, and strengthen connectivity with both the mainland and the world, to create greater value and opportunities for global investors, the spokesperson noted.

Also on Thursday, Lee said that the recent rankings underscore Hong Kong's advantages as an international financial center, noting that the continuous rise in international reports validates the effectiveness of the HKSAR government's policies.

With strong backing from the central government, Hong Kong has evolved into a world-class hub for finance, shipping, and trade, Lee added.

"Various surveys indicate that foreign businesses operating in Hong Kong generally express strong confidence in the city's rule of law," said the spokesperson. "Hong Kong's remarkable performance in international rankings further affirms its status as a globally attractive business environment."