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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 />
Chinese 100-yuan notes at a Bank of China branch in Hong Kong. Photo: Reuters
Banking & finance

How the RMB Business Facility will help consolidate Hong Kong’s financial role

Quota expanded to 500 billion yuan from Friday, with tenor increased to two to three years, up from one.

Good Schools Guide

Hong Kong’s Gen Alpha is learning about managing money

Banking & finance

China further boosts Hong Kong’s role as offshore yuan hub

Banking & finance

Beyond a bridge: Hong Kong digs in to shore up fragile ‘moat’, anchor growth

Officials deploy multipronged strategy – from tax incentives to new gold clearing system – to recalibrate city’s global standing amid shifting capital flows, regulatory changes.

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Illustration: Henry Wong
Banking & finance

China extends gold-buying binge to 20th month in Beijing’s de-dollarisation push

PBOC’s bullion holdings keep rising as forex reserves dip in June to US$3.42 trillion and the central bank seeks security from sanctions and US market volatility.

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Banking & finance

Hong Kong yuan facility to expand 150% to US$73.6b to meet international demand

The city will also vet a license application for a new electronic fixed income and currency trading system.

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Banking & finance

Beijing unveils policy enhancements to give ‘vitality’ to Hong Kong markets

The governor of China’s central bank says Beijing is set to increase capital allocation to the city to 800 billion yuan under the Bond Connect scheme.

Pan Gongsheng, governor of the People’s Bank of China gives a keynote speech at Hong Kong FIC & Bond Connect Summit in Admiralty. Photo: Sun Yueng
Gold in Hong Kong

Hong Kong inaugurates trial operation of gold clearing and settlement system

Chief Executive John Lee announces ‘milestone’ for city’s gold trading ecosystem at Hong Kong FIC & Bond Connect Summit.

Hong Kong economy

Hong Kong must brace for AI bubble risk and quantum computer threat: HKMA chief

Eddie Yue urges city’s banks to safeguard against stock market correction coinciding with geopolitical events triggering inflation anxieties.

Banking & finance

Hong Kong broadens yuan’s financial footprint as currency gains global appeal

Hong Kong Monetary Authority widens scope of yuan finance to solidify status as ‘offshore laboratory’ for currency amid de-dollarisiation trend.

Hong Kong is looking to boost its position as the world's leading offshore yuan hub. Photo: Felix Wong
Banking & finance

Looking East: Europe’s banks look to Hong Kong amid global uncertainty

European banks, facing rising costs and energy instability, are turning to Hong Kong for funding, with Hungary’s OTP Bank leading the shift.

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Hungary’s biggest lender, OTP Bank, has given a vote of confidence to Hong Kong as European banks seek alternative options amid geopolitical tension, rising financing costs and increasingly unstable global energy supplies. Photo: Handout
Wealth Report

The government’s 2026-27 Budget pushes HKEX expansion in cross-border trading

Financial Secretary Paul Chan Mo-po’s measures include the Hong Kong Monetary Authority and CMU OmniClear studying updates to financial infrastructure across various asset classes.

C-Suite Content Hub

Rewriting the Intelligence Map

Votee AI, led by CEO Pak-Sun Ting, combats the “AI data desert” by building sovereign, enterprise-grade architecture for underrepresented languages. Starting with a native Cantonese model, the company prioritises rigorous compliance and cultural preservation to empower underserved global communities.

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SCMP C-Suite
Banking & finance

Can Shanghai’s offshore finance push test Hong Kong’s dominance?

Beijing is accelerating Shanghai’s offshore finance ambitions, raising questions over whether Hong Kong’s long-held edge can endure.

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Shanghai is seeking to expand its offshore finance business under a new action plan backed by Beijing. Photo: Getty Images
Banking & finance

China’s trading crackdown seen boosting Hong Kong as official capital hub

Analysts at ‘Summer Davos’ gathering highlight pivot towards official cross-border connect schemes to intermediate domestic wealth ‘on China’s own terms’.

The China Securities Regulatory Commission recently penalised three brokerages, including Tiger Brokers, for illegally granting domestic investors access to overseas securities trading. Photo: Handout
Hong Kong property

Hong Kong property sales more measured as interest rate increase looms

Hong Kong Monetary Authority warns public to beware of interest rate uncertainties.

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Banking & finance

Hong Kong regulators vow strict compliance as Beijing tightens capital controls

Regulators stress that Hong Kong’s role as an international financial centre must support China’s broader financial development objectives.

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Hong Kong

Hong Kong, Indonesia move towards direct transactions in yuan, rupiah

Agreement between People’s Bank of China, HKMA and Bank Indonesia aims to enhance efficiency and encourage use of the currencies.

Bundles of Indonesian rupiah are pictured at a currency exchange office in Jakarta on June 4, 2026. Photo: AFP
Banking & finance

Tencent, Swire boost Hong Kong debt market with US$5.2b multi-currency deals

Investor appetite for Hong Kong debt is growing, with the offerings reinforcing the city’s role as a global bond hub.

Banking & finance

Hong Kong rolls out incentives to boost role as a corporate treasury hub

Plan expands tax concessions and introduces pre-approval mechanism to lure multinationals to manage capital and risk in the city.

Banking & finance

Mainlanders can still open bank accounts in Hong Kong despite new rules: HKMA

Some mainlanders have reported having applications to open Hong Kong accounts rejected amid China’s tightening cross-border investment controls.

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A pedestrian walks past HSBC’s branch at Pedder Street in Hong Kong. Photo: Yik Yeung-man
Banking & finance

Hong Kong taps group of experts to help rewrite rules for tokenised bonds

HKMA sets up the collective, spanning 21 institutions, in push to expand blockchain-based issuance beyond government pilots.

The Hong Kong Monetary Authority (HKMA) logo in IFC Two. Photo: Jonathan Wong
Britain

Mainland investors face uncertainty amid regulatory crackdown

Tighter overseas investment rules are leading some investors to shift to mainland-approved channels as Hong Kong brokers restrict access.

Banking & finance

Hong Kong banks tighten rules in mainland China as Beijing pores over outflows

Some banks are exercising more caution with offshore accounts for their mainland China clients amid tighter investment controls from Beijing.

Banking & finance

Hong Kong’s venture fund eyes bigger bankroll after double-digit return

Financial secretary says investment arm will also take lead on new offshore yuan-denominated venture capital fund.

Hong Kong Investment Corporation CEO Clara Chan Ka-chai speaks at a forum at Regent Hong Kong on May 22, 2025. Photo: Jonathan Wong
Stablecoins

Letters | Mind the gap between Hong Kong digital asset policy and practice

Readers discuss digital asset audits, the danger of setting a ride-hailing cap, and the bigger picture on allowing dogs in restaurants.

Sam Bankman-Fried, founder of collapsed cryptocurrency exchange FTX, leaves Manhattan federal court in New York in 2023. Photo: AP
Hong Kong’s Tai Po fire tragedy

Hong Kong banks replace burnt cash from residents of fire-ravaged Wang Fuk Court

Monetary Authority introduced measures last December allowing three note-issuing banks to provide one-stop exchange service for damaged money.

Hong Kong property

Hong Kong home sales surge to 2-year high, boosting overall transactions

A total of 8,692 transactions in all sectors were concluded last month, up 12.3 per cent from March’s 7,737 deals.

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