HKMA launches new measures to support struggling SMEs
Authority expands banks’ access to company data and sets up taskforce to handle financing applications
The Hong Kong Monetary Authority (HKMA) is launching two sets of support measures for struggling businesses in the territory.
The first, announced on August 26, involves allowing more banks to access data via a recently introduced functionality on the HKMA’s Commercial Data Interchange (CDI). The aim is to streamline approval processes for loans to small and medium-sized enterprises (SMEs).
The CDI is an electronic platform, launched in October 2022, that enables participating banks to access the
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