The Hong Kong Monetary Authority (HKMA) released the results of its Survey on Small and Medium-Sized Enterprises’ (SMEs) Credit Conditions for the fourth quarter of 2025, indicating that SMEs’ credit conditions remained broadly stable. Excluding respondents who answered “no idea / don’t know”, a larger share of SMEs perceived banks’ credit approval stance as similar or easier than six months earlier. In the fourth quarter, 70% reported a “similar” or “easier” credit approval stance, up from 59% in the previous quarter, while 30% perceived a “more difficult” stance, down from 41%. Among SMEs with existing credit lines, 1% reported a “tighter” stance from banks (down from 3%), with “tighter” covering measures such as reducing credit lines, raising interest rates, imposing additional collateral requirements, or shortening loan tenor. Only 2% of respondents applied for new bank credit during the quarter; among those who knew their outcomes, 77% reported fully or partially successful applications (up from 72%). The HKMA highlighted that the results may be prone to fluctuations given the small sub-samples involved (14% with existing credit lines and 2% with new applications), and noted that perceptions may not reflect actual credit access conditions; the quarterly survey is carried out by the Hong Kong Productivity Council and typically covers about 2,500 SMEs across sectors.
Hong Kong Monetary Authority 2026-02-02
Hong Kong Monetary Authority publishes Q4 2025 SME credit conditions survey showing broadly stable access to bank credit
The Hong Kong Monetary Authority's survey for Q4 2025 shows that Small and Medium-Sized Enterprises' (SMEs) credit conditions remained broadly stable, with 70% perceiving banks' credit approval stance as "similar" or "easier" compared to six months prior. The survey, conducted by the Hong Kong Productivity Council, involved approximately 2,500 SMEs, but results may fluctuate due to small sub-sample sizes.