{"id":1910,"date":"2024-10-19T01:02:09","date_gmt":"2024-10-18T17:02:09","guid":{"rendered":"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/"},"modified":"2024-10-19T01:02:09","modified_gmt":"2024-10-18T17:02:09","slug":"more-measures-to-support-smes","status":"publish","type":"post","link":"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/","title":{"rendered":"More measures to support SMEs"},"content":{"rendered":"
<\/p>\n

The Monetary Authority (HKMA), together with the banking sector, introduced multiple measures today to further support, through financing as well as banking products and services, the continuous development of small and medium-sized enterprises (SMEs).<\/p>\n

\u00a0<\/p>\n

The HKMA said around 20,000 SMEs have benefitted from the nine measures that it launched with the Banking Sector SME Lending Co-ordination Mechanism in March this year, involving an aggregate credit limit of over $44 billion.<\/p>\n

\u00a0<\/p>\n

Taking into account the commercial sector\u2019s views, the HKMA and the banking sector will roll out five measures to assist SMEs\u2019 continuous development, upgrade and transformation, as well as enhancing their competitiveness and productivity to cope with various operational challenges.<\/p>\n

\u00a0<\/p>\n

Firstly, the HKMA has lowered the countercyclical capital buffer ratio from 1% to 0.5%, and will allow banks to early adopt the preferential treatments for SME exposures under the Basel III capital framework.<\/p>\n

\u00a0<\/p>\n

Such policies will release bank capital, enabling banks to make use of the additional capital to facilitate SMEs\u2019 financing needs.<\/p>\n

\u00a0<\/p>\n

Secondly, the 16 banks that are active in SME lending have set aside a total of over $370 billion in dedicated funds for SMEs in their loan portfolio. The funds will allow SME customers to access necessary financing to cope with the evolving business environment.<\/p>\n

\u00a0<\/p>\n

The banks will regularly review and consider scaling up the size of their dedicated funds in response to SMEs\u2019 needs and development.<\/p>\n

\u00a0\u00a0\u00a0\u00a0 \u200b<\/p>\n

Thirdly, the HKMA said banks will launch more credit products and services to meet the needs, such as the combination of digital transformation and green transformation, of SMEs. Examples include pre-approved credit limits, unsecured loans, cross-border loans, and loans with flexible repayment periods.<\/p>\n

\u00a0<\/p>\n

On partial principal repayment options, the HKMA noted that when an orderly exit from the banking sector\u2019s Pre-approved Principal Payment Holiday Scheme started in July 2023, the mechanism introduced enhanced measures to assist corporates\u2019 gradual return to normal repayment.<\/p>\n

\u00a0<\/p>\n

As some customers\u2019 partial principal repayment arrangements will expire in early 2025, banks will be accommodative and consider offering more flexible repayment arrangements to these customers.<\/p>\n

\u00a0<\/p>\n

Subject to prudent risk-management principles, such arrangements may include extending the duration of partial principal repayment, offering more options on the proportion and duration of partial principal repayment, or even offering principal moratorium.<\/p>\n

\u00a0<\/p>\n

Additionally, banks will allocate adequate resources to process applications and work closely with HKMC Insurance to implement as soon as possible the principal moratorium and other enhanced measures under the SME Financing Guarantee Scheme.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Monetary Authority (HKMA), together with the banking sector, introduced multiple measures today to further support, through financing as well as banking products and services, the continuous development of small and medium-sized enterprises (SMEs). \u00a0 The HKMA said around 20,000 SMEs have benefitted from the nine measures that it launched with the Banking Sector SME…<\/span><\/p>\n

Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":1911,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[34],"class_list":["post-1910","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-news"],"nelio_content":{"isAutoShareEnabled":true,"autoShareEndMode":"never","automationSources":{"useCustomSentences":false,"customSentences":[]},"followers":[1],"suggestedReferences":[],"efiUrl":"","efiAlt":"","highlights":[],"permalinkQueryArgs":[]},"yoast_head":"\nMore measures to support SMEs - TRADENET.HK B2B Platform<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"More measures to support SMEs - TRADENET.HK B2B Platform\" \/>\n<meta property=\"og:description\" content=\"The Monetary Authority (HKMA), together with the banking sector, introduced multiple measures today to further support, through financing as well as banking products and services, the continuous development of small and medium-sized enterprises (SMEs). \u00a0 The HKMA said around 20,000 SMEs have benefitted from the nine measures that it launched with the Banking Sector SME…Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/\" \/>\n<meta property=\"og:site_name\" content=\"TRADENET.HK B2B Platform\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/tradenethk\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-18T17:02:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.news.gov.hk\/eng\/2024\/10\/20241018\/20241018_112348_852\/images\/20241018132505232.jpg\" \/>\n<meta name=\"author\" content=\"cloudian-support\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.news.gov.hk\/eng\/2024\/10\/20241018\/20241018_112348_852\/images\/20241018132505232.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cloudian-support\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/\"},\"author\":{\"name\":\"cloudian-support\",\"@id\":\"https:\/\/www.tradenet.hk\/b2b\/#\/schema\/person\/0d9fc36e8bbf7801cf67f2c5a300684e\"},\"headline\":\"More measures to support SMEs\",\"datePublished\":\"2024-10-18T17:02:09+00:00\",\"dateModified\":\"2024-10-18T17:02:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/\"},\"wordCount\":404,\"publisher\":{\"@id\":\"https:\/\/www.tradenet.hk\/b2b\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.news.gov.hk\/eng\/2024\/10\/20241018\/20241018_112348_852\/images\/20241018132505232.jpg\",\"keywords\":[\"News\"],\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/\",\"url\":\"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/\",\"name\":\"More measures to support SMEs - TRADENET.HK B2B Platform\",\"isPartOf\":{\"@id\":\"https:\/\/www.tradenet.hk\/b2b\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.news.gov.hk\/eng\/2024\/10\/20241018\/20241018_112348_852\/images\/20241018132505232.jpg\",\"datePublished\":\"2024-10-18T17:02:09+00:00\",\"dateModified\":\"2024-10-18T17:02:09+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/#primaryimage\",\"url\":\"https:\/\/www.news.gov.hk\/eng\/2024\/10\/20241018\/20241018_112348_852\/images\/20241018132505232.jpg\",\"contentUrl\":\"https:\/\/www.news.gov.hk\/eng\/2024\/10\/20241018\/20241018_112348_852\/images\/20241018132505232.jpg\",\"caption\":\"More measures to support SMEs\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.tradenet.hk\/b2b\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"More measures to support SMEs\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.tradenet.hk\/b2b\/#website\",\"url\":\"https:\/\/www.tradenet.hk\/b2b\/\",\"name\":\"TRADENET.HK B2B Platform\",\"description\":\"Our mission is to connect Hong Kong enterprises, especially SMEs, with business opportunities worldwide.\",\"publisher\":{\"@id\":\"https:\/\/www.tradenet.hk\/b2b\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.tradenet.hk\/b2b\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.tradenet.hk\/b2b\/#organization\",\"name\":\"TRADENET.HK B2B Platform\",\"url\":\"https:\/\/www.tradenet.hk\/b2b\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.tradenet.hk\/b2b\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.tradenet.hk\/b2b\/wp-content\/uploads\/2024\/10\/facebook_cover_photo_1_transparent.png\",\"contentUrl\":\"https:\/\/www.tradenet.hk\/b2b\/wp-content\/uploads\/2024\/10\/facebook_cover_photo_1_transparent.png\",\"width\":1383,\"height\":383,\"caption\":\"TRADENET.HK B2B Platform\"},\"image\":{\"@id\":\"https:\/\/www.tradenet.hk\/b2b\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/tradenethk\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.tradenet.hk\/b2b\/#\/schema\/person\/0d9fc36e8bbf7801cf67f2c5a300684e\",\"name\":\"cloudian-support\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.tradenet.hk\/b2b\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/1366ba2b659aec08306bb704e2af307b?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/1366ba2b659aec08306bb704e2af307b?s=96&d=mm&r=g\",\"caption\":\"cloudian-support\"},\"sameAs\":[\"https:\/\/www.tradenet.hk\/b2b\"],\"url\":\"https:\/\/www.tradenet.hk\/b2b\/author\/cloudian-support\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"More measures to support SMEs - TRADENET.HK B2B Platform","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/","og_locale":"en_US","og_type":"article","og_title":"More measures to support SMEs - TRADENET.HK B2B Platform","og_description":"The Monetary Authority (HKMA), together with the banking sector, introduced multiple measures today to further support, through financing as well as banking products and services, the continuous development of small and medium-sized enterprises (SMEs). \u00a0 The HKMA said around 20,000 SMEs have benefitted from the nine measures that it launched with the Banking Sector SME…Read More","og_url":"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/","og_site_name":"TRADENET.HK B2B Platform","article_publisher":"https:\/\/www.facebook.com\/tradenethk\/","article_published_time":"2024-10-18T17:02:09+00:00","og_image":[{"url":"https:\/\/www.news.gov.hk\/eng\/2024\/10\/20241018\/20241018_112348_852\/images\/20241018132505232.jpg"}],"author":"cloudian-support","twitter_card":"summary_large_image","twitter_image":"https:\/\/www.news.gov.hk\/eng\/2024\/10\/20241018\/20241018_112348_852\/images\/20241018132505232.jpg","twitter_misc":{"Written by":"cloudian-support","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/#article","isPartOf":{"@id":"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/"},"author":{"name":"cloudian-support","@id":"https:\/\/www.tradenet.hk\/b2b\/#\/schema\/person\/0d9fc36e8bbf7801cf67f2c5a300684e"},"headline":"More measures to support SMEs","datePublished":"2024-10-18T17:02:09+00:00","dateModified":"2024-10-18T17:02:09+00:00","mainEntityOfPage":{"@id":"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/"},"wordCount":404,"publisher":{"@id":"https:\/\/www.tradenet.hk\/b2b\/#organization"},"image":{"@id":"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/#primaryimage"},"thumbnailUrl":"https:\/\/www.news.gov.hk\/eng\/2024\/10\/20241018\/20241018_112348_852\/images\/20241018132505232.jpg","keywords":["News"],"articleSection":["News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/","url":"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/","name":"More measures to support SMEs - TRADENET.HK B2B Platform","isPartOf":{"@id":"https:\/\/www.tradenet.hk\/b2b\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/#primaryimage"},"image":{"@id":"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/#primaryimage"},"thumbnailUrl":"https:\/\/www.news.gov.hk\/eng\/2024\/10\/20241018\/20241018_112348_852\/images\/20241018132505232.jpg","datePublished":"2024-10-18T17:02:09+00:00","dateModified":"2024-10-18T17:02:09+00:00","breadcrumb":{"@id":"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/#primaryimage","url":"https:\/\/www.news.gov.hk\/eng\/2024\/10\/20241018\/20241018_112348_852\/images\/20241018132505232.jpg","contentUrl":"https:\/\/www.news.gov.hk\/eng\/2024\/10\/20241018\/20241018_112348_852\/images\/20241018132505232.jpg","caption":"More measures to support SMEs"},{"@type":"BreadcrumbList","@id":"https:\/\/www.tradenet.hk\/b2b\/more-measures-to-support-smes\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.tradenet.hk\/b2b\/"},{"@type":"ListItem","position":2,"name":"More measures to support SMEs"}]},{"@type":"WebSite","@id":"https:\/\/www.tradenet.hk\/b2b\/#website","url":"https:\/\/www.tradenet.hk\/b2b\/","name":"TRADENET.HK B2B Platform","description":"Our mission is to connect Hong Kong enterprises, especially SMEs, with business opportunities worldwide.","publisher":{"@id":"https:\/\/www.tradenet.hk\/b2b\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.tradenet.hk\/b2b\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.tradenet.hk\/b2b\/#organization","name":"TRADENET.HK B2B Platform","url":"https:\/\/www.tradenet.hk\/b2b\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.tradenet.hk\/b2b\/#\/schema\/logo\/image\/","url":"https:\/\/www.tradenet.hk\/b2b\/wp-content\/uploads\/2024\/10\/facebook_cover_photo_1_transparent.png","contentUrl":"https:\/\/www.tradenet.hk\/b2b\/wp-content\/uploads\/2024\/10\/facebook_cover_photo_1_transparent.png","width":1383,"height":383,"caption":"TRADENET.HK B2B Platform"},"image":{"@id":"https:\/\/www.tradenet.hk\/b2b\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/tradenethk\/"]},{"@type":"Person","@id":"https:\/\/www.tradenet.hk\/b2b\/#\/schema\/person\/0d9fc36e8bbf7801cf67f2c5a300684e","name":"cloudian-support","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.tradenet.hk\/b2b\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/1366ba2b659aec08306bb704e2af307b?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/1366ba2b659aec08306bb704e2af307b?s=96&d=mm&r=g","caption":"cloudian-support"},"sameAs":["https:\/\/www.tradenet.hk\/b2b"],"url":"https:\/\/www.tradenet.hk\/b2b\/author\/cloudian-support\/"}]}},"_links":{"self":[{"href":"https:\/\/www.tradenet.hk\/b2b\/wp-json\/wp\/v2\/posts\/1910"}],"collection":[{"href":"https:\/\/www.tradenet.hk\/b2b\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.tradenet.hk\/b2b\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.tradenet.hk\/b2b\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tradenet.hk\/b2b\/wp-json\/wp\/v2\/comments?post=1910"}],"version-history":[{"count":0,"href":"https:\/\/www.tradenet.hk\/b2b\/wp-json\/wp\/v2\/posts\/1910\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tradenet.hk\/b2b\/wp-json\/wp\/v2\/media\/1911"}],"wp:attachment":[{"href":"https:\/\/www.tradenet.hk\/b2b\/wp-json\/wp\/v2\/media?parent=1910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.tradenet.hk\/b2b\/wp-json\/wp\/v2\/categories?post=1910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tradenet.hk\/b2b\/wp-json\/wp\/v2\/tags?post=1910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}