Experts say bonds offer way ahead for Hong Kong

Experts said the bond market is an important way Hong Kong can safeguard its role as a global financial hub in the future, as its role as an international renminbi clearing center faces intense competition with the Chinese mainland vigorously promoting the renminbi internationalization.

"In the beginning of the internationalization of the renminbi, we relied on offshore markets and clearing centers, and Hong Kong was a must for international renminbi clearing, so it had a unique advantage," said Ba Shusong, chief China economist at the mainland division of Hong Kong Exchanges and Clearing Ltd.

But with the launch of the China International Payments System, Hong Kong's position changes from "unique" to "ordinary", he told a forum in Hong Kong on Wednesday.