HKMA SME Financing Support Measures


On Mar. 28, HKMA introduced several measures to support SMEs.


  • HKMA and the Banking Sector SME Lending Coordination Mechanism introduced 9 measures to support SMEs in obtaining financing, to support their development.
  • Follows HKMA Feb. 2024 said application period extended to Mar. 31, 2026, #133794.
  • Measures
  • Never demand early repayments from mortgage customers who repay on schedule.
  • Give customers a transition period of at least 6 months for credit limit adjustments.
  • Expedite the handling of applications for SME financing guarantee scheme products.
  • Sympathetic consideration for SMEs facing challenges, including loan restructuring.
  • Offer credit products that better serve SMEs’ needs and other support services.
  • Consider lowering interest charges and fees for SMEs in need, provide transparency.
  • Set up a one-stop platform for providing information on banking services for SMEs.
  • Provide convenience to customers to switch lending banks through data sharing.
  • Regular meetings between banks and business sectors to understand SMEs' needs.
  • Apr. 2024 Eddie Yue Comments
  • On Apr. 22, 2024, HKMA shared comments of Eddie Yue, Chief Executive, re support to SMEs, in view of changes in local consumer, tourist spending patterns during Easter.
  • Nine support measures for SMEs were announced before the Easter holiday, with banks implementing fee waivers and launching unsecured loan products for SMEs.
  • Participating banks will utilize commercial data from the commercial data interchange to tailor credit products for SMEs, particularly those without property collateral.
  • Highlighted launch of one-stop SME information platform providing details on SME lending services offered by major banks, to facilitate comparison/choice of products.
  • In Aug. 2024, HKMA, HKAB set up joint taskforce on SME lending, see #223825.

Regulators HKMA
Entity Types Bank
Reference PR 4/22/2024; PR 3/28/2024
Functions Compliance; Financial; Product Administration; Reporting; Risk; Treasury
Countries Hong Kong
Category Central Government
State
Products Banking; Loan
Regions AP
Rule Type Guidance
Rule Date 3/28/2024
Effective Date 4/22/2024
Rule Id 206298
Linked to Rule :133794
Reg. Last Update 4/22/2024
Report Section International

Last substantive update on 04/25/2024