The Hong Kong Monetary Authority (HKMA) published today statistics on SVF schemes issued by SVF licensees for the third quarter of 2018.
The SVF scheme statistics (see Annex) include quarterly data on SVF schemes issued by the sixteen SVF licensees (Note 1). The HKMA began to publish the SVF scheme statistics on a quarterly basis in March 2017 to enhance transparency of the SVF industry in Hong Kong.
According to the quarterly statistics, the total number of SVF accounts in use (Note 2) was 54.10 million by the end of Q3/2018, representing a 4.4% increase from the previous quarter. The total number of SVF transactions (Note 3) was around 1.5 billion for Q3/2018, or 0.9% higher than the previous quarter. The total value of SVF transactions was HK$44.7 billion for Q3/2018, up 9.1% from the previous quarter. Of the total transaction value, HK$22.3 billion was related to point-of-sale spending payment, HK$15.9 billion in online spending payment and HK$6.6 billion in P2P funds transfer. The total float and SVF deposit (Note 4) was HK$9.5 billion for Q3/2018, 6.6% higher than the previous quarter.
As compared with the end of Q3/2017, the total number of SVF accounts in use at the end of Q3/2018 was up by 20.6%, and the total float and SVF deposit was up by 26.8%. The total number and value of SVF transactions during Q3/2018 were up by 6.9% and 29.7% respectively year-on-year.
Hong Kong Monetary Authority
21 December 2018
Notes: