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Hong Kong Monetary Authority (HKMA)
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Hong Kong Monetary Authority (HKMA)

Hong Kong Monetary Authority (HKMA)
Hong Kong Monetary Authority (HKMA)
The Hong Kong Monetary Authority (HKMA) was established in April 1993 by merging the Office of the Exchange Fund with the Office of the Commissioner of Banking. The HKMA is responsible for maintaining monetary and banking stability, including maintaining currency stability within the framework of the Linked Exchange Rate system under which the Hong Kong dollar is pegged to the US dollar.<br />
The headquarters of Standard Chartered Bank and HSBC are seen in Central on March 23, 2025. Photo: Eugene Lee
Banking & finance

Hong Kong banks’ profit growth slows amid rising bad debt, slim margins

Profit growth slows to 7.3 per cent from 8.4 per cent a year earlier as bad loans exceed two-decade average, HKMA says.

US-China trade war

US Treasury chief warns of China’s push for digital asset dominance

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Hong Kong property

Expanded Hong Kong scheme allows resale homebuyers to pay sellers directly

Fintech

HKMA launches quantum readiness and cybersecurity projects for banks in AI era

Banking regulator sets fintech road map with quantum index and measures to boost security, data quality and skills.

“Computing equals productivity, but we can’t sacrifice security while making innovations,” says Arthur Yuen of the HKMA. Photo: Eugene Lee
Banking & finance

No hack behind HSBC banking outage, as HKMA rules out cyberattack

Monetary authority signals tougher scrutiny of tech risks after shutdown, as it also moves closer to issuing stablecoin licences.

Banking & finance

Letters | As US dollar weakens, time to rethink Hong Kong dollar peg?

Readers discuss the dollar peg amid geopolitical volatility, an AI proposal for student well-being, public reactions to bus seat belts, and the viability of the cinema industry.

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Banking & finance

China’s yuan finds firmer footing in corporate fundraising efforts

Uses of yuan borrowing broaden to include working capital and capex, supported by Hong Kong’s liquidity boost, bankers say.

Foreign-exchange trends, interest-rate shifts and supply-chain reshaping are all driving greater offshore yuan use, UOB banker says. Photo: Shutterstock
Hong Kong economy

Editorial | Hong Kong cannot take its Exchange Fund’s stellar year for granted

The fund posted a record gain last year, boosting the Hong Kong government’s fiscal health, but global headwinds must be heeded.

Banking & finance

Hong Kong regains lustre as stocks rally, property picks up

A booming IPO market, lower interest rates and the return of overseas visitors are boosting Hong Kong’s economy, stock market and Exchange Fund.

Interest rates

HKMA warns of risks as Hong Kong follows Fed in keeping interest rate unchanged

Analysts see the first US rate cut in June, with a falling Hong Kong interbank rate set to bring relief to borrowers.

The Hong Kong Monetary Authority kept its base rate unchanged at 4 per cent on Thursday. Photo: Jonathan Wong
Chinese culture

Reservations now open for new banknotes for Year of the Horse red packets

HSBC, Standard Chartered and BOC are taking bookings for the new and ‘good as new’ banknote exchange at certain branches from February 3-16.

To celebrate the Year of the Horse 2026, three Hong Kong banks will offer brand-new and “good as new” banknotes for customers to put in red packets, from February 3-16. Participating bank branches will open at 8am for the first three days of the programme. Photo: Getty Images
Hong Kong stock market

Hong Kong’s Exchange Fund reports record earnings in 2025

The Exchange Fund’s full-year earnings jumped 51 per cent to HK$331 billion (US$42 billion), from HK$218.8 billion in 2024.

Banking & finance

Digital finance forum: AI, data to smooth trade-finance processes

Bankers from HSBC, Hang Seng Bank and ICBC Asia tout technology innovation to ease pain points for trade-finance clients.

Hong Kong

China’s central bank to support doubling of yuan liquidity for Hong Kong lenders

PBOC to increase yuan facility to US$28.68 billion and issue more sovereign yuan bonds to enhance city’s role as yuan hub, official says.

Zou Lan, deputy governor of the People’s Bank of China, speaks during the 19th Asian Financial Forum at Hong Kong Convention and Exhibition Centre in Wan Chai on January 26, 2026. Photo: Eugene Lee
Banking & finance

How lower US interest rates can help Hongkongers amid steady local prime rates

Most new mortgages, many corporate loans are based on interbank rates, which will continue to fall, monetary authority’s deputy chief says.

A view of residential buildings in front of Lion Rock Hill on April 15, 2025. Photo: Dickson Lee
Hong Kong economy

Editorial | Trade finance in Hong Kong set for a competitive tech upgrade

Monetary Authority’s five-year fintech upgrade will streamline SME trade finance and help build the city’s digital trade infrastructure.

Insurance

Wealthy investors propel Hong Kong life insurance sales to another peak

The industry wrote US$34 billion worth of life policies in the first nine months of last year.

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Banking & finance

Hong Kong authority presses banks to shape up services for seniors

The monetary authority requires lenders to improve banking apps, branch premises and sales processes to suit the city’s ageing population.

Senior Hongkongers enjoy a sunny day in North Point on January 15, 2026. Photo: Jelly Tse
Banking & finance

HKMA unveils 20-point road map to modernise Hong Kong’s trade finance ecosystem

Project CargoX aims to digitalise Hong Kong’s trade finance, expand SME lending and strengthen connectivity with mainland China and Asean.

Hong Kong economy

Hong Kong government’s cargo-tracking digital platform launched with 2,300 firms

Secretary for Transport and Logistics Mable Chan says new Port Community System streamlines transport data, improving transparency for users.

Banking & finance

Letters | 5 years on, digital banks are taking root in Hong Kong

Readers discuss perceptions of virtual banks, vetting of English teachers, and the outlook for Hong Kong.

People use ATMs in Central in 2024. A 2025 survey found a majority of respondents reporting that digital banks could meet at least half of their daily banking needs. Photo: Eugene Lee
Banking & finance

Exclusive | HKMA teams up with SFC, Insurance Authority to promote fintech over next 5 years

The HKMA is expanding the city’s generative AI sandbox to include other industries, chief executive Eddie Yue Wai-man says.

Hong Kong Monetary Authority chief executive Eddie Yue Wai-man. Photo: SCMP
Fintech

Digital finance in 2026: what to expect as pilots move into real-world adoption

While digital money experiments promise greater efficiency, they also risk deeper fragmentation and regulatory pitfalls, experts warn.

Hong Kong economy

Editorial | Hong Kong’s anti-scam service a prudent way to make banking more secure

Law enforcement and banks must work together to keep Hongkongers’ money safe and their transactions secure.

Hong Kong

Hong Kong mortgage recovery holds in 2025 despite end-of-year wobble

Hong Kong mortgage applications and approvals fell in November, but year-to-date volumes still point to a 2025 recovery.

Softer month-on-month mortgage figures highlighted an uneven recovery, with buyers and banks remaining cautious amid a prolonged property downturn. Photo: Sam Tsang
Interest rates

Hong Kong interbank rates forecast to drop on expected 2026 US monetary easing

Savings rates near zero prevent further prime rate reductions, though Hibor-linked loans will get cheaper, analysts say.

Analysts agree that lower US rates in 2026 would drive down Hibor – benefiting borrowers with Hibor-linked mortgages and corporate loans. Photo: Shutterstock
Hong Kong economy

All Hong Kong retail banks to offer anti-scam service, locking cash in accounts

‘Money Safe’ users will have to meet a bank employee to undergo verification process to ensure their funds are not going to scammers.

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Banking & finance

OCBC, Bangkok Bank, First Abu Dhabi join US$14 billion offshore yuan scheme

Leading banks from Southeast Asia and the Middle East are taking part in the programme, underscoring the city’s push as an offshore yuan hub.

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