The Hong Kong Monetary Authority (HKMA), the Hong Kong Association of Banks and the Chinese Banking Association of Hong Kong co-organised a seminar on the banking sector’s support measures for small and medium-sized enterprises (SMEs) today (24 June), which was successfully concluded. Supporting organisations included the Trade and Industry Department’s Support and Consultation Centre for SMEs, The Hong Kong Mortgage Corporation Limited, The Chinese Banks’ Association, Hong Kong Export Credit Insurance Corporation and Hong Kong Productivity Council. The seminar brought together 200 representatives from the banking sector, trade associations and chambers and SME operators (see Annex 1), who have actively exchanged views on the banking sector’s support measures as well as diverse services for SMEs.
Since the introduction of the nine SME support measures by the HKMA and the Banking Sector SME Lending Coordination Mechanism on 28 March this year, around 7,000 SMEs have benefitted from the measures, involving an aggregate credit limit of over HK$15 billion. Today’s seminar enabled the banking sector to further understand the needs of SMEs, while at the same time strengthened customers’ awareness of the support measures.
The three panel discussions covered topics including how banks leverage financial technology, including the HKMA’s Interbank Account Data Sharing (IADS) initiative, to help SMEs obtain bank financing in an easier and faster manner, and how banks support the business transformation of SMEs. Several SME operators shared experiences and success stories of how they have benefitted from the banks’ support in branching out into other markets and expanding their business to different regions (see Annex 2).
The HKMA will continue to maintain close communication and exchange with the banking and commercial sectors to support the continuous development of SMEs.
Hong Kong Monetary Authority
24 June 2024
Arthur Yuen, Deputy Chief Executive of the Hong Kong Monetary Authority, delivers welcome remarks at the seminar on banking sector support for SMEs.
Arthur Yuen, Deputy Chief Executive of the Hong Kong Monetary Authority (front row, seventh from left); Frank Fang, Acting Chairperson of the Hong Kong Association of Banks (front row, fifth from left); Ronick Chan, Vice Chairman and Secretary of the Chinese Banking Association of Hong Kong (front row, eighth from left); Jeffrey Lam, Member of the Executive Council and Chairman of the Legislative Council Panel on Commerce, Industry, Innovation and Technology (front row, sixth from left); Carmen Chu, Executive Director (Banking Supervision) of the Hong Kong Monetary Authority (front row, ninth from left); and representatives from the supporting organisations and trade associations and chambers attend the seminar.
(From left) Joe Cheung, Director, Win Target (HK) Limited; Eric Fan, Senior Vice President, Head of Digital Transformation Division, Shanghai Commercial Bank Limited; Lo Ying Kit, Managing Director, Dr-Max Limited; Christina Ong, Managing Director, Head of Business Banking Hong Kong, The Hongkong and Shanghai Banking Corporation Limited; and Sam Sio, Director, and Chairman of Policy Sub-committee, Hong Kong General Chamber of Young Entrepreneurs, discuss how financial technology facilitates SMEs to obtain bank financing in an easier and faster manner during the panel discussion.
(From left) Jane Tong, Founder and Managing Director, Arredamenti Co Limited; Terry Chan, Finance Director, QFPay Haojin Fintech Limited; Stanley Lee, President, E-Commerce Association of Hong Kong; Ken Kwan, Head of Enterprise Banking Department, The Bank of East Asia, Limited; and Winnie Tung, Managing Director & Head, SME Banking, Wealth and Retail Banking, Hong Kong, Standard Chartered Bank (Hong Kong) Limited, exchange views on how the banking sector supports the business transformation of SMEs.
(From left) Beyond Ng, Assistant Chief Executive, Nanyang Commercial Bank, Limited; Paul Yeung, President, Hong Kong Commerce and Industry Associations; Pui Kwan Kay, President, The Hong Kong Chinese Importers’ and Exporters’ Association; Chen Nanfeng, Chairman, Global Telecommunication Int’l Limited; Kwok Ho Yee, Chief Operating Officer and Executive Director, Envision Greenwise Holdings Limited; and Aero Wong, Deputy General Manager, Commercial Banking Department, Bank of China (Hong Kong) Limited, discuss how the banking sector assists SMEs to “go out” and expand businesses to different regions at the seminar.
