HKMA and HKAB establish Northern Metropolis Financial Advisory Taskforce (with photos)
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The Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB) announced today (April 22) the joint establishment of the Northern Metropolis Financial Advisory Taskforce (Taskforce). The Taskforce will explore financing solutions that support the development of the Northern Metropolis.
The Northern Metropolis, which encompasses extensive new development land and industrial projects, plays a pivotal role in driving Hong Kong's future development and enhancing its competitiveness. With the facilitation of the HKMA, the banking sector initiated dialogues with the Development Bureau in 2025 to understand the development and planning of the Northern Metropolis.
To strengthen the banking sector's communication and collaboration with the Hong Kong Special Administrative Region Government and other stakeholders, and to explore ways to actively support the Northern Metropolis development through financing, the Taskforce will:
- provide professional advice on financing and banking services for the development of the Northern Metropolis;
- explore Northern Metropolis opportunities and related financing needs with a view to proposing practical financing recommendations to advance relevant projects; and
- facilitate the exchange of expertise and experience for the purpose of strengthening the banking sector's financing support for key Northern Metropolis projects.
The Taskforce comprises representatives from the HKMA, the HKAB and 15 banks that possess experience in large-scale project financing (see Annex). In addition, the Chinese Banking Association of Hong Kong will participate as an observer and support the relevant work.
The Taskforce conducted a site visit to Hung Shui Kiu/Ha Tsuen New Development Area and the Loop in the Northern Metropolis yesterday to learn about the latest developments and overall planning of the Northern Metropolis projects, paving the way for more informed future discussions and advice.
Deputy Chief Executive of the HKMA Mr Arthur Yuen said, "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 Northern Metropolis projects, thereby providing solid support for Hong Kong's long-term growth."
The Chairman of the HKAB and Vice Chairman and Chief Executive of Bank of China (Hong Kong), Mr Sun Yu, said, "With the outline of the 15th Five-Year Plan for the country expressing explicit support for expediting the development of the Northern Metropolis, the Northern Metropolis has not only become a key engine for driving Hong Kong's economic growth, but also a strategic gateway for Hong Kong to integrate into and contribute to the overall national development. Through the Taskforce, the banking sector will closely align with the development needs of the Northern Metropolis, leveraging its financial expertise in financing, innovation and technology development, attracting business investment and promoting connectivity. We are fully committed to supporting the accelerated development of the Northern Metropolis and creating new growth momentum for Hong Kong's future."
Ends/Wednesday, April 22, 2026
Issued at HKT 18:00
Issued at HKT 18:00
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