Hong Kong and China Collaborate on New Electronic Trading Platform for Fixed Income and Currency Markets.

PBOC, HKMA and SFC's joint announcement on developing trading platform in Hong Kong

The following is issued on behalf of the Hong Kong Monetary Authority:

The People's Bank of China (PBOC), the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) jointly welcomed the collaboration between the China Foreign Exchange Trade System (CFETS) and Hong Kong Exchanges and Clearing Limited (HKEX) to develop an electronic fixed income and currency trading platform (FIC trading platform) in Hong Kong. This initiative will further strengthen the financial co-operation between Hong Kong and the Chinese Mainland, and reinforce Hong Kong's position as an international financial centre and an offshore RMB business hub.

In 2025, the SFC and the HKMA jointly announced Hong Kong's Roadmap for the Development of FIC Markets (Roadmap). One of the key initiatives outlined in the Roadmap is to support the development of a next-generation electronic trading platform. The FIC trading platform will provide an open, fair, efficient, and robust platform for both local and international institutions, following the key principles below:

• adhering to international market standards and practices, while meeting the regulatory requirements in Hong Kong;
• fostering an open and fair market facilitating participation by international institutions with diversified product and service offerings;
• advancing in alignment with the strategic development goals of the broader financial ecosystem in Hong Kong; and
• adopting a market-driven approach focused on enhancing trading efficiency and transparency, facilitating price discovery, reducing transaction costs and introducing technological innovation to further strengthen financial services.

Further details of the FIC trading platform, including the launch timeline, will be announced in due course.

Source: AI-found images

Hong Kong Customs detects dangerous drug case at airport

Hong Kong Customs today (July 7) detected a dangerous drug case and seized about 1 kilogram of suspected cocaine with an estimated market value of about $0.8 million at Hong Kong International Airport (HKIA).

A 21-year-old male passenger arrived in Hong Kong from Kuala Lumpur, Malaysia, today. During customs clearance, Customs officers found the batch of suspected cocaine in the shoes worn by him. He was subsequently arrested.

After investigation, the arrested person has been charged with one count of trafficking in a dangerous drug. The case will be brought up at the West Kowloon Magistrates' Courts tomorrow (July 8).

Customs will continue to step up enforcement against drug trafficking activities through intelligence analysis. The department also reminds members of the public to stay alert and not to participate in drug trafficking activities for monetary return. They must not accept hiring or delegation from another party to carry controlled items into and out of Hong Kong.

Customs will continue to apply a risk assessment approach and focus on selecting passengers from high-risk regions for clearance to combat transnational drug trafficking activities.

Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.

Members of the public may report any suspected drug trafficking activities to Customs' 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002) .

Hong Kong Customs detects dangerous drug case at airport Source: HKSAR Government Press Releases

Hong Kong Customs detects dangerous drug case at airport Source: HKSAR Government Press Releases