HONG KONG MONETARY AUTHORITY

Crypto / Digital Assets

China to Start Using CBDC in Cross-Border Trade

By Sanday Chongo Kabange | 28/04/2023

Xuzhou will use the e-CNY for payment of Belt and Road trade costs; Changshu City will use it to pay civil servants.

HK to Guarantee Loans to Travel, Transport Industries

By Editors | 27/04/2023

New scheme will provide guarantees on loans to cross-boundary passenger transport operators and licensed travel agents.

AML / KYC

HK Bank-to-bank Information Sharing Platform to Launch in June

By Manesh Samtani | 26/04/2023

Authorities are also considering co-locating bank staff at the ADCC, as this has helped to reduce stop payment response times and enhance loss recoveries in other jurisdictions like Singapore.

AML / KYC

HKMA Sets Loss-Sharing Expectations for Payment Card Fraud

By Manesh Samtani | 26/04/2023

To the extent that the cardholders have not acted fraudulently or with gross negligence, they “should not be held liable for the unauthorised transactions”.

Fintech / Regtech

HKMA, PBOC Explore Use of CBDC for Cross-border Payments

By Editors | 26/04/2023

HKMA deputy chief Darryl Chan said there is scope to expand the Wealth Management Connect scheme and use CDI data for cross-border finance.

ESG / Sustainability

GBA Green Finance Alliance Launches Technology Working Group

By Editors | 25/04/2023

At a meeting hosted by the HKGFA, the Alliance launched a technology working group and unveiled plans to form another working group focused on transition finance.

ESG / Sustainability

HKMA Enhances Climate Risk Stress Testing Framework

By Manesh Samtani | 24/04/2023

Key enhancements include the introduction of a new five-year scenario, additional assessment requirements, and more detailed reporting requirements.

Crypto / Digital Assets

HK CBDC May Be Developed on Permissioned Blockchain

By Sanday Chongo Kabange | 21/04/2023

The HKMA has asked banks to “review and research and then propose” an implementation approach for the e-HKD.

Securities / Derivatives

CFFEX Set to Launch 30 Year Treasury Bond Futures

By Editors | 16/04/2023

CFFEX already offers futures trading in 2-year, 5-year, and 10-year treasury bond futures. The 30-year contract will start trading on Friday (21 April).