The talks over so-called "current account transactions" include the possibility of letting Hong Kong banks settle trade contracts denominated in renminbi and provide credit services related to renminbi-based letters of credit.
Hong Kong’s small- and medium-sized enterprises (SMEs) can now apply for a business loan without lengthy application procedures and without the need for collateral backing, according to HSBC.
Hong Kong's exports in July rose 16.5% year-on-year to HK$ 183.6 bn, after an 18.2% growth in June, the government said
Re-exports were up 18.3% year-on-year at HK$171.9 bn in July, while domestic exports fell 4.1% to HK$11.7 bn
Zurich has announced the appointment of a new marketing manager to join its business unit in Hong Kong, which provides insurance and risk management solutions in emerging markets.
Hong Kong banks chose to keep their prime rates or lending rates steady, resisting pressure set by the hike in US Federal Reserve's key interest rates, a move which reflects intense competition among themselves to revive sluggish loan growth, anal
Hong Kong firms reported fewer late payments and defaults from overseas in the second quarter as the global economy improved, according to credit insurer Coface. But late payments by Hong Kong companies increased.
The Hong Kong Trade Development Council (TDC) has proposed relaxing restrictions to encourage more mainland private enterprises to invest in the territory.
Hong Kong's small- and medium-sized enterprises (SMEs) will not suffer the credit squeeze feared by some as a result of new risk-based tests that banks may use under the “Basel II” Capital Accord to calculate the amount of capital they need to sup
New credit scoring techniques have paved the way for unsecured lending in the small- and medium-sized business (SME) sector, which has recorded 23 per cent growth as a result, HSBC says.
The government of the Hong Kong Special Administrative Region is taking firm measures to rein in its budget deficit, which is expected to reach HK$49 billion (US$6.28 billion) or 4 per cent of its GDP in fiscal 2003/04.
