The Hong Kong Monetary Authority does not intervene in the approval of bank property mortgages

According to reports, recent news indicates that some banks are tightening their mortgage approval procedures. In response, the Hong Kong Monetary Authority stated that they respect the commercial decisions of banks and will not interfere.

"This is the bank's own business decision, and we will not interfere or influence their decision-making," Monetary Authority deputy chief executive Nguyen Kok Hang said at a press conference.

He further added that the role of the Monetary Authority is to supervise the stable and healthy operation of the financial system and not to interfere with the business operations of banks.

Although some citizens may be worried about banks tightening mortgage approvals, the Hong Kong Monetary Authority emphasized that they will continue to pay close attention to market trends to ensure the stability of the financial system.

In general, the Monetary Authority's position is to respect market mechanisms and remain neutral, and will not easily interfere in banks' commercial decisions.