Bond Connect is a new cross-border investment channel which provides mutual market access for bond investors between Mainland China and Hong Kong, and more broadly, the international market. The People’s Bank of China (PBC) and the Hong Kong Monetary Authority announced the agreement for this new initiative in May 2017 (see the Joint Announcement) and the program officially commenced on July 3, 2017 (see the Joint Announcement). For the purpose of regulating businesses relating to mutual bond market access between Mainland China and Hong Kong SAR, protecting the legitimate rights of Mainland and overseas investors, and maintaining the order of the bond markets, the PBC formulated the Interim Measures for the Administration of Mutual Bond Market Access between Mainland China and Hong Kong SAR (Order No. 1 [2017]) in June 2017, and then the Shanghai Head Office of the PBC announced the Guide on Registration of Overseas Investors for Northbound Trading in Bond Connect (Notice No. 1 [2017]), which was formulated for registration of overseas investors for Northbound Trading in Bond Connect. More details and useful information can be found through the website of Bond Connect Company Limited, which is a joint venture established by China Foreign Exchange Trade System (National Interbank Funding Center) and Hong Kong Exchanges and Clearing Limited.