Hong Kong SME Credit Conditions Remain Broadly Stable, Says HKMA

Hong Kong SME credit conditions remained broadly stable during the second quarter of 2026, according to the Hong Kong Monetary Authority's latest survey of small and medium-sized businesses.

Excluding respondents who were uncertain about banks' lending stance, 78% viewed credit approval conditions as similar to or easier than six months earlier, up from 73% in the first quarter.

The proportion reporting more difficult conditions declined to 22%.

Among SMEs with existing credit facilities, 4% said banks had tightened lending terms, compared with none in the previous quarter.

Only 3% of businesses applied for new credit, while 85% of applicants with known outcomes secured full or partial approval, down from 91%.

The quarterly survey covers about 2,500 SMEs. The HKMA cautioned that the relatively small number of borrowers and credit applicants means quarter-to-quarter changes can be volatile and should be interpreted carefully.