Hong Kong Monetary Authority: Banks have approved over HK$200 million in loans for specific digital transformation projects for small and medium enterprises.

According to the Zhtng Financial APP, Edgar Chiu, Assistant Chief Executive of the Hong Kong Monetary Authority, stated that 8 banks have launched fast approval loan products as part of the "Specialist Team for Small and Medium Enterprise Financing", providing matching funds for companies applying for government support for SME transformation and acceleration. Meeting the financial needs of small and medium enterprises in the early stages of transformation. Since the Hong Kong Monetary Authority and the banking industry introduced relevant measures in October last year, banks have approved over HK$230 million in specific digital transformation loans.