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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 />
HSBC CEO Georges Elhedery poses for a photograph in Hong Kong on February 26, 2026. Photo: Jonathan Wong
Banking & finance

HSBC signals intent to join Hong Kong’s stablecoin regime amid digital hub push

Georges Elhedery declined to confirm whether HSBC applied for stablecoin licence but indicated that discussions with regulator were ongoing.

Hong Kong budget 2026-27

Rare Exchange Fund withdrawal to pay for Northern Metropolis, other big schemes

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Banking & finance

Why China’s rise as a ‘financial superpower’ could depend on Hong Kong

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Hong Kong

Letters | Can Hong Kong’s Exchange Fund capture the growth of tomorrow?

Readers discuss the Hong Kong Monetary Authority’s investment strategy in comparison with Singapore’s Temasek, Australia’s media bargaining mechanism, and Chinese New Year Cup ticketing.

Robin Zeng (centre), chairman of CATL, the world’s largest maker of electric vehicle batteries, strikes the gong at the listing ceremony in Hong Kong on May 20. Photo: AP
Hong Kong budget 2026-27

Hong Kong budget 2026-27: should the coming blueprint boost yuan’s global push?

Experts say Hong Kong has ‘distinct advantages’ that can support the country’s financial development amid geopolitical uncertainties.

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.

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US-China trade war

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

Scott Bessent tells senators the US must pass the Clarity Act to counter Hong Kong’s ‘sandbox’ and maintain global financial leadership.

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US Treasury Secretary Scott Bessent during a Senate Banking Committee hearing on Thursday. Photo: Reuters
Hong Kong property

Expanded Hong Kong scheme allows resale homebuyers to pay sellers directly

HKMA launches a direct transfer option for second-hand property transactions, replacing the traditional escrow system managed by law firms.

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.

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.

The HKMA said that HSBC’s widespread system outage last week was caused by an internal computer failure rather than a cyberattack. Photo: Sun Yeung
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.

The yuan is increasingly being used in global trade finance, while the US president seemingly favours a weak dollar to remedy trade imbalances. Photo: dpa
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.

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.

Photo: Google Maps
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.

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.

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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.

Permanent secretary for Financial Services and the Treasury Salina Yan speaks at the Development & Innovation of AI for Digital Finance forum at Hong Kong Convention and Exhibition Centre in Wan Chai on Monday. Photo: Eugene Lee
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.

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.

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.

The Hong Kong Monetary Authority’s five-year fintech road map aims to modernise the city’s trade finance landscape and strengthen connectivity with mainland China and Asean trade corridors. Photo: Shutterstock
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.

An insurance sales agent approaches mainland tourists in Canton Road, Tsim Sha Tsui. Photo: Eugene Lee
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.

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.

A view of Kwai Chung Container Terminal. The Port Community System uses AI and blockchain technology to provide instantaneous cargo tracking services. Photo: Sam Tsang
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.

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.

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