The direct connection between the Hong Kong Debt Instruments Central Clearing System and the Macau Central Securities Depository System has been officially launched.

On January 21, the Hong Kong Monetary Authority and the Monetary Authority of Macau jointly announced that the Central Money Market Unit (CMU), operated by E-Clearing Systems Limited (a wholly-owned subsidiary of an exchange fund in Hong Kong), and the Central Securities Depository System, operated by the Macau Central Securities Depository and Clearing Company Limited (a wholly-owned subsidiary of the Monetary Authority of Macau), have officially launched direct connection to facilitate the development of the bond markets in both regions. Since the joint announcement on September 16, 2024, the Hong Kong Monetary Authority and the Monetary Authority of Macau have closely cooperated in the preparations for the direct connection, and have jointly implemented the relevant business rules and operational procedures. The cross-border connectivity of the bond market infrastructure between Hong Kong and Macau will provide a channel for investment and financing across the regions, allowing investors in both places to participate more conveniently and efficiently in each other's bond markets. The direct connection also signifies a new milestone in financial cooperation between Hong Kong and Macau, leveraging the strengths of both regions, and is an important manifestation of the coordinated development of the Guangdong-Hong Kong-Macau Greater Bay Area. Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, stated that in order to enhance Hong Kong's competitiveness as an international financial center, the Hong Kong Monetary Authority has established connectivity mechanisms with several neighboring financial markets in recent years, continuously exploring connections with other central securities depositories. The direct connection demonstrates Hong Kong's role as a "super-connector" and further promotes the development of CMU into Asia's international central securities depository platform. Chen Shouxin, Chairman of the Monetary Authority of Macau, stated that the official launch of the direct connection between the bond markets of Hong Kong and Macau marks the first connection of Macau's bond market infrastructure with an overseas central securities depository platform, providing a convenient channel for international investors, including those from Portuguese-speaking countries, to participate in the bond markets of Hong Kong and Macau. This further enhances Macau's role as a "Sino-Portuguese financial services platform." The Monetary Authority of Macau will continue to build connections between the mainland and international bond markets, gradually expanding into new financial formats and supporting the moderate diversification of the Macau economy.