The Hong Kong Monetary Authority (HKMA) and The Hong Kong Association of Banks (HKAB) announced today (22 April) the joint establishment of the Northern Metropolis Financial Advisory Taskforce (Taskforce). The Taskforce will explore financing solutions that support the development of the Northern Metropolis.
The Northern Metropolis, which encompasses extensive new development land and industrial projects, plays a pivotal role in driving Hong Kong’s future development and enhancing its competitiveness. With the facilitation of the HKMA, the banking sector initiated dialogues with the Development Bureau in 2025 to understand the development and planning of the Northern Metropolis.
To strengthen the banking sector’s communication and collaboration with the Hong Kong Special Administrative Region Government and other stakeholders, and to explore ways to actively support the Northern Metropolis development through financing, the Taskforce will:
- provide professional advice on financing and banking services for the development of the Northern Metropolis;
- explore Northern Metropolis opportunities and related financing needs with a view to proposing practical financing recommendations to advance relevant projects; and
- facilitate the exchange of expertise and experience for the purpose of strengthening the banking sector’s financing support for key Northern Metropolis projects.
The Taskforce comprises representatives from the HKMA, HKAB and 15 banks that possess experience in large-scale project financing (see Annex). In addition, the Chinese Banking Association of Hong Kong will participate as an observer and support the relevant work.
The Taskforce conducted a site visit to Hung Shui Kiu / Ha Tsuen New Development Area and the Loop in the Northern Metropolis yesterday to learn about the latest development and overall planning of the Northern Metropolis projects, paving the way for more informed future discussions and advice.
Mr Arthur Yuen, Deputy Chief Executive of the HKMA, said, “The establishment of the Northern Metropolis Financial Advisory Taskforce provides a vital co-ordination platform for the HKMA and the banking sector to collaboratively advance the development of the Northern Metropolis. The participating banks will draw on their financial expertise and experience to provide practical financing advice and solutions that can help expedite the implementation of the Northern Metropolis projects, thereby providing solid support for Hong Kong’s long-term growth.”
Mr Sun Yu, Chairman of HKAB and Vice Chairman and Chief Executive of Bank of China (Hong Kong), said, “With the outline of the 15th Five-Year Plan for the country expressing explicit support for expediting the development of the Northern Metropolis, the Northern Metropolis has not only become a key engine for driving Hong Kong’s economic growth, but also a strategic gateway for Hong Kong to integrate into and contribute to the overall national development. Through the Taskforce, the banking sector will closely align with the development needs of the Northern Metropolis, leveraging its financial expertise in financing, innovation and technology development, attracting business investment, and promoting connectivity. We are fully committed to supporting the accelerated development of the Northern Metropolis and creating new growth momentum for Hong Kong’s future.”
Hong Kong Monetary Authority
The Hong Kong Association of Banks
22 April 2026
(Front row from left) Ms Rose Kay, Chief Compliance Officer, Hong Kong and Greater China & North Asia of Standard Chartered Bank; Mr Ronick Chan, Vice Chairman and Secretary of the Chinese Banking Association of Hong Kong; Mr Sun Yu, Chairman of The Hong Kong Association of Banks, and Vice Chairman and Chief Executive of Bank of China (Hong Kong); Ms Bernadette Linn, the Secretary for Development; Mr Arthur Yuen, Deputy Chief Executive of the Hong Kong Monetary Authority (HKMA); Mr Justin Chan, Advisor to Co-Chief Executives of The Hongkong and Shanghai Banking Corporation; Ms Carmen Chu, Executive Director (Banking Supervision) of the HKMA and representatives from other 12 participating banks visit the Hung Shui Kiu / Ha Tsuen New Development Area Community Liaison Centre.
The Northern Metropolis Financial Advisory Taskforce gains a deeper understanding of the development blueprint for the Hung Shui Kiu / Ha Tsuen New Development Area through the sand table model.
Ms Pecvin Yong, Deputy Secretary for Development presents an overview of the development plan and the latest progress regarding the Northern Metropolis to the Northern Metropolis Financial Advisory Taskforce.
The Northern Metropolis Financial Advisory Taskforce visits the Innohub at the Loop.
The Northern Metropolis Financial Advisory Taskforce visits the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone and receives an introduction to the Hong Kong Park from Ms Lillian Cheong, Under Secretary for Innovation, Technology and Industry.
