The Hong Kong Monetary Authority, Securities and Futures Commission, Insurance Authority and Mandatory Provident Fund Schemes Authority, together with Cyberport, announced the launch of GenA.I. Sandbox++, extending the 2024 GenA.I. Sandbox to banking, securities, insurance, MPF and stored value payment facilities. The initiative focuses on risk management, anti-fraud and customer experience, with participating institutions able to obtain regulatory guidance and free GPU computing resources.
Why read this: The plan expands the sandbox to multiple financial sectors, with participating institutions able to obtain regulatory guidance and Cyberport's free GPU computing resources, allowing readers to understand the support available when applying.
Mar 4Wed
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The Insurance Authority today launched a public consultation on proposed amendments to the Insurance (Valuation and Capital) Rules (Cap. 41R), aiming to enhance Hong Kong's competitiveness as a global risk management hub while maintaining appropriate prudential safeguards. The proposed amendments cover preferential capital treatment for qualifying infrastructure investments, capital requirements for general business, as well as technical amendments to index-linked universal life insurance business, crypto-assets and specified stablecoins. The consultation paper has been uploaded to the Insurance Authority's website, and the public may submit comments on or before 10 March 2026.
Why read this: The consultation sets out the proposed amendments covering preferential capital treatment for infrastructure investments and crypto-assets, among other areas, and specifies the deadline for submitting comments, allowing readers to judge whether they need to respond.
Feb 5Thu
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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.
Why read this: 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.
Jan 22Thu
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The Hong Kong Monetary Authority published the Cargo x Project Recommendations Report on January 19, putting forward 20 recommendations and a roadmap to modernise Hong Kong's trade finance ecosystem. The recommendations fall under three strategic pillars of data, infrastructure and connectivity, covering the integration of the government's strategic cargo and trade data, the promotion of paperless trade, and enhanced connectivity with regions including the Chinese mainland and ASEAN. The Hong Kong Monetary Authority will carry out a series of pilot schemes with public and private sector institutions to implement the roadmap.
Why read this: The report sets out 20 recommendations across data, infrastructure and connectivity, together with a roadmap, which can be compared with Hong Kong's specific direction for promoting the digitalisation of trade finance.
Jan 13Tue
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The Hong Kong Monetary Authority and the Hong Kong Association of Banks announced on 30 December that all retail banks, including digital banks, must fully launch the "Smart Safe Deposit" service to personal customers on or before 31 December. Customers can set the protected deposit amount themselves, and must first complete the bank's face-to-face anti-fraud verification procedure before making withdrawals. The Hong Kong Monetary Authority will work with the banking industry to launch advertisements and various promotional programmes.
Why read this: The announcement specifies the launch deadline and the face-to-face verification procedure for accessing protected deposits, allowing readers to check whether their own bank is on the list.
Dec 21Sun
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The Financial Secretary wrote in his blog about the mourning and follow-up arrangements for the Tai Po Wang Fuk Court fire, saying the government will make every effort to rehouse affected residents. The authorities are following up on each family's needs through "one household, one social worker", and he convened a meeting of financial regulators to coordinate banks, insurers and MPF trustees in providing assistance. The cross-departmental investigation task force has held its first meeting to investigate the cause of the fire at full speed.
Why read this: The blog lists specific follow-up arrangements, including "one household, one social worker" to follow up on family needs, as well as financial regulators coordinating banks and insurers to provide flexible services, allowing readers to verify support channels.
The Hong Kong Monetary Authority and The Hong Kong Association of Banks, together with 28 retail banks, have launched six emergency measures to help residents affected by the Tai Po five-alarm fire through their difficulties. These include a pre-approved six-month repayment moratorium for mortgages, personal loans and credit card loans, along with waivers on related penalty interest and service fees. Tai Po district branches will provide services on 29 November (Saturday) from 9am to 5pm and on 30 November (Sunday) from 9am to 1pm.
Why read this: The six measures set out specific periods for a six-month repayment moratorium and extended service hours at Tai Po branches, allowing affected residents to check immediately which support they can use.
The Hong Kong Monetary Authority announced the launch of Ensemble TX, formally moving the Ensemble Project into the pilot phase to support real transaction settlement of tokenised deposits and digital assets. The initial focus is on transactions in tokenised money market funds, with cross-bank settlement conducted initially through the Hong Kong dollar Real-Time Gross Settlement (RTGS) system, and it will continue to operate throughout 2026, progressively upgrading to 24/7 settlement in tokenised central bank money. The Hong Kong Monetary Authority and the Securities and Futures Commission said they will continue to work together to promote practical applications of tokenisation technology.
Why read this: Results from the sandbox launched in August 2024 have now been upgraded to real transactions, allowing readers to understand the settlement methods and 2026 timetable of the pilot phase.
Oct 30Thu
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The Insurance Authority has introduced a classification framework for "domestically systemically important insurers" (D-SII), with AIA Group Limited and Prudential plc Asia Limited classified as D-SIIs. The Insurance Authority will recommend to the Financial Secretary that all D-SIIs be brought within the scope of the Financial Institutions (Resolution) Ordinance (Cap. 628), with classifications assessed once a year.
Why read this: The announcement names the two insurance groups classified and sets out the enhanced supervisory requirements they must meet, as well as the proposed direction for bringing them within the scope of the resolution mechanism ordinance.