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HKMA Collaborates with Banking Sector to Launch Support Measures for Specific Industries
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The Hong Kong Monetary Authority (HKMA), together with the banking sector, introduced today (8th) sector-specific support measures to further assist more small and medium-sized enterprises (SMEs) in obtaining bank financing and in their upgrade and transformation. Since the launch of the "9+5" SME support measures by the HKMA and the banking sector last year, more than 39,000 SMEs have benefitted from these measures, involving an aggregate credit limit of over HK$95 billion. The total amount of dedicated funds for SMEs set aside by the participating banks in the Taskforce in their loan portfolio has increased from HK$370 billion in October 2024 to more than HK$390 billion at present. In the light of the current trade tension and uncertainties surrounding the external economic environment, and after taking into account and discussing the views of the commercial sectors in the Mechanism and Taskforce meetings, the banking sector reaffirmed its commitment to actively implement the "9+5" SME support measures previously launched. The banking sector will continue to be accommodative in offering credit reliefs, including flexible repayment arrangements and deferment of repayment period, referencing the principles under the Pre-approved Principal Payment Holiday Scheme, to assist corporates in coping with their liquidity needs. AAStocks Financial News |
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