King & Wood Mallesons has advised China Foreign Exchange Trade System & National Interbank Funding Centre (CFETS) on its cooperation with the Hong Kong Exchanges & Clearing (HKEx) on the recently launched Bond Connect scheme between China and Hong Kong. 

The long-awaited bond connect scheme links mainland China’s $9 trillion bond market with overseas investors, the latest step in Beijing's efforts to liberalise and strengthen the country's capital markets, reported Reuters. 

The bond programme follows the launch of the Hong Kong and Shanghai Stock Connect scheme in November 2014 and the Hong Kong and Shenzhen stock programme in December 2016. Those two schemes allow both northbound and southbound trade.  

The KWM team was led by partners Jack Wang and Molly Su in Shanghai and Richard Mazzochi, Hayden Flinn and Minny Siu in Hong Kong.

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