Hong Kong Monetary Authority doubles total quota for RMB business funding arrangement to RMB200 billion
The Hong Kong Monetary Authority announced that the total quota for the RMB business funding arrangement will be raised from RMB100 billion to RMB200 billion, with the new quota effective from 2 February. The original quota has been fully allocated to 40 participating banks, with individual banks' usage having reached or approached their caps. Under the new arrangement, the scope of financing will be extended to corporate clients of overseas banking institutions within the same group, and the use of funds will be expanded to include term loans for capital expenditure and working capital.
The effective date of the new quota and the expanded scope of financing are set out, allowing verification of how many banks and what types of loans the arrangement covers.
Source: 金管局·新聞稿 · hkma.gov.hk