The Chief Executive of the Hong Kong Special Administrative Region, Lee Ka-chiu, said today that Hong Kong will introduce another “no repayment” measure to allow borrowers under the “SME Financing Guarantee Program” to apply for “no repayment” for up to 12 months, and extend the maximum loan guarantee period for 80% and 90% credit guarantee products to 10 and 8 years, respectively, while providing a “partial principal repayment” option for newly created loans under the two guarantee products. The HKMA is also actively considering flexibility in banks' capital requirements to facilitate banks to provide financing to SMEs.

The Chief Executive of the Hong Kong Special Administrative Region, Lee Ka-chiu, said today that Hong Kong will introduce another “no repayment” measure to allow borrowers under the “SME Financing Guarantee Program” to apply for “no repayment” for up to 12 months, and extend the maximum loan guarantee period for 80% and 90% credit guarantee products to 10 and 8 years, respectively, while providing a “partial principal repayment” option for newly created loans under the two guarantee products. The HKMA is also actively considering flexibility in banks' capital requirements to facilitate banks to provide financing to SMEs.