HKMA, HKAB form taskforce for Northern Metropolis finance
The Hong Kong Monetary Authority and The Hong Kong Association of Banks have jointly established the Northern Metropolis Financial Advisory Taskforce. This new body will explore comprehensive financing solutions to support the extensive development of Hong Kong's Northern Metropolis.
Driving Hong Kong's future growth
The Northern Metropolis is envisioned as a crucial driver for Hong Kong's future development and a key element in enhancing its overall competitiveness.
This extensive project encompasses new development land and various industrial initiatives.
The Hong Kong Monetary Authority facilitated initial dialogues in 2025 between the banking sector and the Development Bureau to foster a deeper understanding of the Metropolis's planning.
The newly formed Taskforce aims to strengthen communication and collaboration between the banking sector, the Hong Kong Special Administrative Region Government, and other stakeholders.
Its core mandate is to explore and provide financing solutions that can actively support and expedite the Northern Metropolis's development.
Mr Arthur Yuen, Deputy Chief Executive of the HKMA, underscored the Taskforce's significance: 'The establishment of the Northern Metropolis Financial Advisory Taskforce provides a vital co-ordination platform for the HKMA and the banking sector to collaboratively advance the development of the Northern Metropolis.
The participating banks will draw on their financial expertise and experience to provide practical financing advice and solutions that can help expedite the implementation of the Metropolis projects, thereby providing solid support for Hong Kong's long-term growth.
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Expertise for strategic integration
The Taskforce comprises representatives from the HKMA, HKAB, and 15 banks with experience in large-scale project financing.
The Chinese Banking Association of Hong Kong will participate as an observer.
The Taskforce recently conducted a site visit to the Hung Shui Kiu / Ha Tsuen New Development Area and the Loop within the Northern Metropolis.
This visit provided members with firsthand insights into the latest developments and overall planning, paving the way for more informed future discussions and advice.
Mr Sun Yu, Chairman of HKAB, underscored the strategic importance of the Northern Metropolis, noting its explicit support in the country's 15th Five-Year Plan.
He emphasized that the Metropolis is a 'key engine for driving Hong Kong's economic growth' and a 'strategic gateway for Hong Kong to integrate into and contribute to the overall national development.'
He affirmed the banking sector's commitment to leveraging its financial expertise to support accelerated development and create new growth momentum for Hong Kong's future.