Northern Metropolis Financial Advisory Taskforce holds inaugural meeting (with photos)
**************************************************************************************
The Northern Metropolis Financial Advisory Taskforce, jointly established by the Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB), held its inaugural meeting today (June 17). The meeting was attended by representatives of the HKMA, the HKAB, the Development Bureau (DEVB), the Innovation, Technology and Industry Bureau (ITIB), Hong Kong-Shenzhen Innovation and Technology Park Limited and 21 participating banks in the Taskforce (see Annex).
The meeting discussed the latest developments of the Northern Metropolis and the related financial services needs. Highlights of the discussion include:
(1) Key near-term Northern Metropolis projects and opportunities: The DEVB and the ITIB presented on the key development projects and financing needs of the Northern Metropolis over the next three years. These include, among others, the four land parcels in Phase 1 of the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone and the first pilot area under large-scale land disposal in Hung Shui Kiu/Ha Tsuen New Development Area, which are both currently under tender. Such information will enable banks to actively participate in the development of the Northern Metropolis, assisting them in better formulating business plans and allocating resources to support the projects through various means such as syndicated lending, bond underwriting and other ancillary financial services.
(2) Financing for diverse development models: Given that the Northern Metropolis projects will adopt a diverse range of development models (e.g. large-scale land disposal and the establishment of industry park companies to adopt more public-private partnership approaches), the scales, financing tenors, scopes, operating models and durations of these projects may differ from those of conventional development projects. The participating banks in the Taskforce undertook to offer financing solutions that are tailored to individual projects, and with the aim of helping to accelerate the development of industries in the Northern Metropolis and attracting upstream and downstream enterprises to establish footholds.
(3) Supporting sustainable development in the Northern Metropolis: The participating banks in the Taskforce committed to referencing the Hong Kong Nature-based Solutions Design Guidelines (Note 1) as well as the HKMA's Sustainable Finance Action Agenda (Note 2) to offer sustainable finance solutions for Northern Metropolis projects that meet the Guidelines and international green and sustainable finance standards. This aims to support the co-existence of development and conservation in the Northern Metropolis while strengthening the climate resilience of the banking sector.
As the development of the Northern Metropolis progresses across multiple fronts, the Taskforce will continue to explore more practical financing solutions in the future. The Taskforce will collaborate closely with the Government and relevant stakeholders to expedite the implementation of projects in the Northern Metropolis, providing solid support for economic development.
Background
Northern Metropolis Financial Advisory Taskforce
The Northern Metropolis Financial Advisory Taskforce was jointly established by the HKMA and the HKAB in April 2026 to strengthen the banking sector's communication and collaboration with the Hong Kong Special Administrative Region Government and other stakeholders and exploring ways to actively support the Northern Metropolis development through financing. The Taskforce comprises representatives from the HKMA, the HKAB and 21 banks that possess experience in large-scale project financing. The Chinese Banking Association of Hong Kong and the Infrastructure Financing and Securitisation Unit of the Hong Kong Mortgage Corporation Limited participate as observers.
Note 1: The Hong Kong Nature-based Solutions Design Guidelines, jointly introduced by the Civil Engineering and Development Department and the Agriculture, Fisheries and Conservation Department in March 2026, aim to provide practical planning and design guidelines for infrastructure and development projects, promote the application of Nature-based Solutions and strike a balance between development and nature conservation, while enhancing Hong Kong's climate resilience and driving sustainable development.
Note 2: The HKMA published the Sustainable Finance Action Agenda in October 2024, setting out its vision and roadmap to gradually embed sustainability at the core of the financial system, with a view to further consolidating Hong Kong's position as the sustainable finance hub in the region and support the sustainable development of Asia and beyond.
Ends/Wednesday, June 17, 2026
Issued at HKT 20:18
Issued at HKT 20:18
NNNN
