Hong Kong's debt market consists of public and private sector bonds: government debt is in the form of Exchange Fund Bills and Notes managed by the Hong Kong Monetary Authority (HKMA). Private sector debt instruments include floating and fixed rate corporate bonds. Large issuers of corporate debt include local banks and corporations, international banks, and supranational bodies. Retail bonds are issued by government-owned corporations such as the Hong Kong Mortgage Corporation (HKMC), Hong Kong Airport Authority, and the Mass Transit Railway Corporation. Detailed descriptions of debt instruments can be found by following the links below.

The benchmark tenors for fixings are Exchange Fund Bills (EFBs) of 1-week, 1-month, 3-month, 6-month, 9-month, and 12-month, all of which are fixed on a mid-yield basis. Exchange Fund Notes (EFN) of 2-year, 3-year, 4-year, 5-year, 7-year, and 10-year are fixed on a mid-price basis. The fixings are calculated on a daily basis by market makers designated by the Hong Kong Monetary Authority (HKMA).

Official fixings are announced each trading day at the links provided below and on wire services. Benchmark, issuer data, and over-the-counter (OTC) EFN benchmark quotes are also linked below. EFNs and EFBs provide reliable benchmark yields out to 10 years.