The Zhitong Finance App learned that according to market news, the Hong Kong commercial real estate market is showing a “K-shaped recovery”, industrial and commercial properties in non-core areas are still under pressure, and some developers are facing difficulties in refinancing. According to media reports, quoting people familiar with the matter, Ruan Kwok-hang, the vice president of the Hong Kong Monetary Authority, personally presided over a high-level meeting recently and invited representatives from the Hong Kong Real Estate Development Association and more than 10 local, Chinese and foreign banks. At the meeting, he called on financial institutions to adhere to the principle of risk control and provide loan reextension or refinancing support to developers facing debt pressure as much as possible.
According to the news, short-term financing loans from several developers will be matured centrally in the next few months. The Hong Kong Monetary Authority issued a warning to the banking industry at the meeting, saying that if the case is mishandled, it may further impact the valuation of commercial real estate in Hong Kong, and even affect small and medium-sized enterprises in all walks of life that use property as collateral for financing.
According to the report, the Hong Kong Monetary Authority officially did not comment on the details of the meeting; it only reaffirmed that the credit risk of the Hong Kong banking system is manageable, and encouraged the industry to support the real economy with a pragmatic attitude.