Riot police respond with tear gas as protesters throw petrol bombs and set objects on fire during scuffles with police at the junction of Fleming Road, and Hennessy Road following an anti-extradition bill march from Causeway Bay towards Wan Chai and Admiralty on 29 September 2019. Photo: Felix Wong

Nine Hong Kong banks add their heft to HKMA’s coordinated financial lifeline to help small businesses survive city’s slump

  • The HKMA chaired a meeting attended by the Hong Kong Mortgage Corporation, HSBC, Standard Chartered Bank, Bank of China (Hong Kong), Citibank, Hang Seng Bank, Bank of East Asia, DBS, ICBC Asia and CCB Asia.
  • The banks agreed to a set of guidelines, similar to those during Hong Kong’s 2003 Sars outbreak, to cut small borrowers and businesses some slack
Topic |   Hong Kong economy

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Riot police respond with tear gas as protesters throw petrol bombs and set objects on fire during scuffles with police at the junction of Fleming Road, and Hennessy Road following an anti-extradition bill march from Causeway Bay towards Wan Chai and Admiralty on 29 September 2019. Photo: Felix Wong
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Anti-government protesters set fire to barricades in Mong Kok following a rally in defiance of the anti-mask law issued by the government on October 5, 2019. Photo: Edmond So

Hong Kong releases up to HK$300 billion in city’s version of quantitative easing to bolster economy against downturn

  • Hong Kong’s monetary authority will cut its countercyclical capital buffer (CCB) by 50 basis points to 2 per cent, the first reduction since 2015
  • The move will release between HK$200 billion and HK$300 billion into the financial system, the HKMAs chief executive Eddie Yue said
Topic |   Hong Kong Monetary Authority (HKMA)

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Anti-government protesters set fire to barricades in Mong Kok following a rally in defiance of the anti-mask law issued by the government on October 5, 2019. Photo: Edmond So
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