Hong Kong Exchanges and Clearing Limited will allow certain mainland Chinese bonds to serve as eligible non-cash collateral from November 2026, subject to regulatory approval. The change will apply to Chinese government bonds and policy financial bonds held through Bond Connect Northbound (the cross-border mainland investment channel), as well as offshore bonds issued by the Ministry of Finance of the People’s Republic of China. The collateral would be accepted by Hong Kong Futures Clearing Limited and The SEHK Options Clearing House Limited to satisfy margin requirements. HKEX Chief Operating Officer Liu Biyin said the move would broaden the uses of Chinese government bonds in Hong Kong’s market.