HKMA announces total quota allocated for the RMB Business Facility and list of participating banks from Phase 2 onwards

The Hong Kong Monetary Authority (HKMA) announced today (29 December) the expanded list of 40 participating banks (see Annex) starting from Phase 2 of the RMB Business Facility (RBF), with the total quota allocated to participating banks increased to RMB100 billion, from RMB50 billion in the previous phase.

As announced by the HKMA on 26 September (please refer to the Circular for more details), starting from Phase 2 of the RBF,  the scope of eligible Renminbi (RMB) financing activities has been broadened to cover RMB capital expenditure (capex) and working capital term loans.  Such enhancement has been well-received by the banking industry. 

Starting from Phase 2, which commenced on 1 December, the 40 participating banks can apply for RMB funds from the HKMA within their assigned quota under the RBF, to provide RMB financing to local and overseas corporates in support of the real economy.

The specific quota assigned to each of the 40 participating banks is based on the bank’s existing scale of relevant business, expected pipeline, as well as the geographical reach of its overseas intragroup banking entities, all of which reflect its potential in enhancing Hong Kong’s capacity in channelling offshore RMB funds to the global market.  When determining the quota allocation, facility usage of the 24 banks that participated in the previous RMB Trade Financing Liquidity Facility and Phase 1 of the RBF has also been taken into account. 

Mr Eddie Yue, Chief Executive of the HKMA, said, “With the support from the People’s Bank of China, the HKMA will continue to closely monitor the progress of the RBF, and will consider adding more participating banks as appropriate, subject to actual facility usage and market demand, with a view to further promoting the use of RMB in the real economy and fostering the growth of offshore RMB business in Hong Kong.”

Terms and operation details of the RBF can be found in the aforementioned Circular.

Hong Kong Monetary Authority
29 December 2025