The Hong Kong Monetary Authority 9 offers to assist small and medium-sized enterprises in financing call loans and reducing the credit period to at least 6 months – Ming Pao

The Monetary Authority yesterday cooperated with the "Banking Sector SME Loan Coordination Mechanism" and announced the launch of 9 measures aimed at supporting the financing needs of SMEs, enhancing their bargaining power, and strengthening communication between the two parties. These measures include a commitment to customers to repay their loans on time and a transition period of at least six months to reduce credit.

Support the financing needs of small and medium-sized enterprises

These measures by the Monetary Authority aim to help small and medium-sized enterprises obtain easier financing to support their business operations and development. This will help promote economic growth and job creation.

Improve the bargaining power of small and medium-sized enterprises

Through these measures, SMEs will be able to increase their bargaining power when negotiating with banks. This will enable them to obtain more favorable financing terms to better support their business development.

Strengthen communication between both parties

The Monetary Authority also emphasized the importance of strengthening communication between the two parties. Through better communication, SMEs and banks will be able to better understand each other's needs and concerns, leading to better collaboration.

• Promise customers to repay on time
• Reduced credit to allow for a transition period of at least 6 months