Hong Kong on Monday launched offshore Chinese government bond (CGB) futures, offering global investors a new tool to manage interest rate risk as China accelerates efforts to expand the international use of the yuan through the city's financial markets, according to Reuters.
The newly introduced offshore five-year Chinese government bond futures began trading on Hong Kong Exchanges and Clearing (HKEX), making them the only such contracts listed outside mainland China. The contracts are denominated, traded and settled in yuan.
