No. On 5 May, the Central Bank’s website announced that the People’s Bank, the Hong Kong Board of Auditors and the Hong Kong Central Authority were about to formally launch Hong Kong’s interconnectivity with domestic interest rates (hereinafter referred to as “interchange”). Preparations for “conversion” are well advanced, and transactions under “North-to-North” will commence on 15 May. Under the arrangement, initial “North-to-North” swaps are opened, and offshore investors from Hong Kong and...