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On May 15, the Northbound Trading of Swap Connect is officially launched.

At the launch ceremony, Nicolas Aguzin, CEO of Hong Kong Exchanges and Clearing, praised the significance of this new initiative, saying that "such an open and important connection mechanism has never been seen before on a global scale."

Nicolas Aguzin said that thethe Northbound Trading of Swap Connect further enriches the RMB asset ecosystem for international investors and will promote the sustainable internationalization of the RMB, thereby further enhancing the RMB's position in the global market.

It is worth noting that this is the first time that interconnection has been introduced in the financial derivatives field. The Northbound Trading of Swap Connect will work in synergy with the Bond Connect program, complementing each other and facilitating international investors to hedge interest rate risks when investing in the bond market of China's mainland. 

Market analysts believe that the Northbound Trading of Swap Connect is an important measure for the development of bond market infrastructure from the full-scale opening of spot trading to the derivatives field.

Looking to the future, with the development of the Northbound Trading of Swap Connect, the Chinese bond market will further integrate with the international market and attract more foreign capital inflows. This not only allows international investors to optimize asset allocation by investing in the Chinese bond market, but also helps to further diversify the investor structure of China's bond market.