Sarah Kwok, head of the banking conduct department at the Hong Kong Monetary Authority, says start-ups and foreign companies in particularly have found it difficult to open accounts. Photo: Edward Wong Sarah Kwok, head of the banking conduct department at the Hong Kong Monetary Authority, says start-ups and foreign companies in particularly have found it difficult to open accounts. Photo: Edward Wong
Sarah Kwok, head of the banking conduct department at the Hong Kong Monetary Authority, says start-ups and foreign companies in particularly have found it difficult to open accounts. Photo: Edward Wong

New guidelines will smooth path for firms and foreign investors looking to open Hong Kong bank accounts

Monetary Authority intervenes after complaints that tighter regulations were damaging the city’s reputation as a global financial centre

Sarah Kwok, head of the banking conduct department at the Hong Kong Monetary Authority, says start-ups and foreign companies in particularly have found it difficult to open accounts. Photo: Edward Wong Sarah Kwok, head of the banking conduct department at the Hong Kong Monetary Authority, says start-ups and foreign companies in particularly have found it difficult to open accounts. Photo: Edward Wong
Sarah Kwok, head of the banking conduct department at the Hong Kong Monetary Authority, says start-ups and foreign companies in particularly have found it difficult to open accounts. Photo: Edward Wong
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