Through the CMU's issuance programme, issuers can access our local investor network and our expanding international investor network via our cross-border CSD/ICSD linkages. Apart from serving a convenient platform for lodgement, allotment and distribution, the CMU platform offers issuers comprehensive post-trade services, such as collateral management and corporate actions, to manage their debt securities.

Exchange Fund Bills and Notes, Government Bonds issued by HKSAR Government are mainly issued by way of competitive tender. Also, the Ministry of Finance of the People's Republic of China (CMOF) and the People's Bank of China (PBoC) have been using the CMU tendering platform to issue RMB bonds and bills in Hong Kong since 2010 and 2018 respectively.

List of Primary Issuance Services:

  • Issuance Programme for Exchange Fund Bills and Notes
  • Arranger, custodian, agent and operator of bonds issued by HKSAR Government, CMOF, PBoC and public institutions
  • Debt securities lodgement by way of tender or private placement
  • Collateralised lending service for primary issuance


  • Through Bond Connect and our international CSD linkages, issuers can gain access to our Hong Kong, Mainland and global investor base.
  • The CMU strives to maintain a favourable fee schedule in order to facilitate the bond market development in Hong Kong. Besides, debt securities lodged with and cleared by the CMU may be eligible for profits tax concession and the Green and Sustainable Finance Grant Scheme.

How Can Issuers Lodge a Bond with the CMU

If the issuer/acceptor of the instrument is a CMU member, they can lodge the instrument with the CMU directly. The issuer/acceptor can also appoint a CMU Member to act as their lodging agent.

Click here to view the list of CMU members.

Related Information

Last revision date : 21 Feb 2023