Retail Bond Issuance Programme - Programme Circular

The programme circular describes the features of the retail bond programme and the terms which in general apply to retail bonds issued under the retail bond programme (retail bonds). HKSAR Government may update or supplement the programme circular. You should read the programme circular together with all updates and supplements which HKSAR Government has published. HKSAR Government will publish an issue circular* to specify the terms for each series of retail bonds. The issue circular* for a particular series of retail bonds may vary and/or supplement the terms described in the programme circular for those retail bonds. In that case, the variations and/or supplements described in the issue circular* apply, but only to that series of retail bonds.

Programme Circular dated 12 May 2021
<<Click here for the Programme Circular dated 12 May 2021>>

Programme Circular dated 5 October 2020
<<Click here for the Programme Circular dated 5 October 2020>>

Programme Circular dated 4 July 2019
<<Click here for the Programme Circular dated 4 July 2019>>

Programme Circular dated 22 November 2018
<<Click here for the Programme Circular dated 22 November 2018>>

Programme Circular dated 1 June 2017
<<Click here for the Programme Circular dated 1 June 2017>>

Programme Circular dated 19 May 2016
<<Click here for the Programme Circular dated 19 May 2016>>

Programme Circular dated 16 July 2015
<<Click here for the Programme Circular dated 16 July 2015>>

Programme Circular dated 18 July 2014
<<Click here for the Programme Circular dated 18 July 2014>>

Programme Circular dated 28 May 2013
<<Click here for the Programme Circular dated 28 May 2013>>

Programme Circular dated 28 May 2012
<<Click here for Programme Circular dated 28 May 2012>>

Programme Circular dated 5 July 2011
<<Click here for the the Programme Circular dated 5 July 2011>>
A supplemental circular is published to supplement the Chinese version of the programme circular dated 5 July 2011.

*The issue circular for the iBond Series is available here.

*The issue circular for the Silver Bond Series is available here.