Month: July 2026

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Leasing arrangements announced for public market stalls in August

Source: Hong Kong Government special administrative region

Leasing arrangements announced for public market stalls in August      
     Details of the open auctions and the public market stalls concerned (including stalls for open auction at reduced upset prices) have been uploaded to the FEHD website (www.fehd.gov.hk/english/pleasant_environment/tidy_market/open_auction_coming.htmlIssued at HKT 18:07

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Monetary Statistics for June 2026

Source: Hong Kong Government special administrative region

Monetary Statistics for June 2026      
     Total loans and advances increased by 1.3 per cent in June, and increased by 6.4 per cent in the first half of 2026. Among the total, loans for use in Hong Kong (including trade finance) and loans for use outside Hong Kong increased by 1.4 per cent and 1.0 per cent respectively in June. The Hong Kong dollar loan-to-deposit ratio increased to 71.5 per cent at the end of June from 71.0 per cent at the end of May, as Hong Kong dollar loans increased at a faster pace than Hong Kong dollar deposits.
      
     For the second quarter of 2026 as a whole, loans for use in Hong Kong (including trade finance) increased by 3.0 per cent after increasing by 3.0 per cent in the previous quarter. Analysed by economic use, the increase in loans during the second quarter was mainly led by loans to financial concerns and loans to manufacturing.
      
     Hong Kong dollar M2 and M3 both increased by 0.8 per cent in June, and both increased by 2.6 per cent when compared to a year ago. The seasonally-adjusted Hong Kong dollar M1 decreased by 1.0 per cent in June, and decreased by 3.0 per cent compared to a year ago, reflecting in part investment-related activities. Total M2 and total M3 both increased by 0.1 per cent in June. Compared to a year earlier, total M2 and total M3 both increased by 9.2 per cent.  
      
     As monthly monetary statistics are subject to volatilities due to a wide range of transient factors, such as seasonal funding demand as well as business and investment-related activities, caution is required when interpreting the statistics.
Issued at HKT 16:30

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Residential mortgage loans in negative equity: End of June 2026

Source: Hong Kong Government special administrative region

Residential mortgage loans in negative equity: End of June 2026       
     The estimated number of RMLs in negative equity was 4 356 cases at end-June 2026, down by 61.9 per cent from 11 424 cases at end-March 2026. These cases were mainly related to bank staff housing loans or RMLs under mortgage insurance programme, which generally have a higher loan-to-value ratio.
      
     The aggregate value of RMLs in negative equity decreased by 64.4 per cent to HK$19.6 billion at end-June 2026, compared with HK$55 billion at end-March 2026.
      
     The unsecured portion of these loans decreased to HK$0.9 billion at end-June 2026 from HK$2.8 billion at end-March 2026.
      
     The three-month delinquency ratio of RMLs in negative equity increased to 1.25 per cent at end-June 2026 from 0.5 per cent at end-March 2026, as the aggregate value of RMLs in negative equity fell at a faster pace than the aggregate value of delinquent RMLs in negative equity.
      
     It is important to note that the figures derived from this survey relate only to RMLs provided by authorised institutions on the basis of first mortgages and which the reporting institution knows to be in negative equity (i.e. the outstanding loan amount with the reporting institution exceeds the current market value of the mortgaged property). Not included in these figures are RMLs associated with co-financing schemes which would be in negative equity if the second mortgages were taken into account. The extent to which such RMLs are in negative equity is not known because authorised institutions do not maintain records on the outstanding balances of the second mortgages. 
      
     The mortgage portfolios of the surveyed authorised institutions represent about 99 per cent of the industry total. The survey results have been extrapolated to estimate the position of the banking sector as a whole. 
Issued at HKT 16:30

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Residential Mortgage Survey Results for June 2026

Source: Hong Kong Government special administrative region

Residential Mortgage Survey Results for June 2026      
     The number of mortgage applications in June increased month-on-month by 12.5 per cent to 12,117.
      
     Mortgage loans approved in June increased by 25.8 per cent compared with May to HK$50.6 billion. Among these, mortgage loans financing primary market transactions increased by 32.3 per cent to HK$15.5 billion and those financing secondary market transactions increased by 21.6 per cent to HK$28.9 billion. Mortgage loans for refinancing increased by 30.6 per cent to HK$6.2 billion. 
      
     Mortgage loans drawn down during June increased by 17.6 per cent compared with May to HK$27.7 billion. 
      
     The ratio of new mortgage loans priced with reference to HIBOR decreased from 73.8 per cent in May to 70 per cent in June. The ratio of new mortgage loans priced with reference to best lending rates increased from 1.2 per cent in May to 1.3 per cent in June.
      
     The outstanding value of mortgage loans increased month-on-month by 0.4 per cent to HK$1,955 billion at end-June. 
      
     The mortgage delinquency ratio stood at a low level of 0.11 per cent and the rescheduled loan ratio was unchanged at nearly 0 per cent.
Issued at HKT 16:30

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Appointments to Task Force on Promoting Web3 Development

Source: Hong Kong Government special administrative region

Appointments to Task Force on Promoting Web3 Development———–
Financial Secretary
 
Non-official members
(in alphabetical order of family names)
————————
Mr Tamir Abdel-wahab (new member)
Professor Alex Au Wai-chi
Mr Cai Wensheng
Mr Norman Chan Tak-lam
Mr Duncan Chiu
Mr Lawrence Chu Sheng-yu
Mr Kevin Cui Song (new member)
Dr Jack Kong Jianping
Mr Kwock Yin-lun 
Ms Joy Lam
Mr Marco Lim Jun-kit 
Professor Lin Chen
Mr Robert Andrew Lui Chi-wang
Mr Henry Ma Chi-to
Dr Johnny Ng Kit-chong
Professor Jack Poon Sik-ching
Mr Alessio Quaglini 
Ms Elizabeth Quat
Mr Siu Yat
Mr Neil Tan
Mr John Wang Jiachao 
Mr Martin Wong Long-yin (new member)
Dr Xiao Feng——————-
Secretary for Financial Services and the Treasury
Permanent Secretary for Financial Services and the Treasury (Financial Services)
Permanent Secretary for Innovation, Technology and Industry
Under Secretary for Financial Services and the Treasury
Commissioner for Digital Policy
Director-General of Investment Promotion, Invest Hong Kong
Chief Executive Officer, Hong Kong Cyberport Management Company Limited
Chief Executive, Hong Kong Monetary Authority
Chief Executive Officer, Securities and Futures Commission
Chief Executive Officer, Insurance Authority
Chief Executive Officer, Hong Kong Exchanges and Clearing Limited
Issued at HKT 16:30

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Government’s financial results for three months ended June 30, 2026

Source: Hong Kong Government special administrative region

Government’s financial results for three months ended June 30, 2026 
TABLE 1. CONSOLIDATED ACCOUNT (Note 1)
 

 June 30, 2026
HK$ millionJune 30, 2026
HK$ millionand repayment of
Government Bondsissuance of
Government BondsGovernment Bonds*and repayment of
Government BondsGovernment Debts as at June 30, 2026 (Note 3)
    HK$445,288 million
Debts Guaranteed by Government as at June 30, 2026 (Note 4)  
    HK$107,456 million
 
TABLE 2. FISCAL RESERVES
 

 June 30, 2026
HK$ millionJune 30, 2026
HK$ millionissuance and repayment of
Government Bonds(Note 5)Notes:
 
1. This Account consolidates the General Revenue Account and the following eight Funds: Capital Works Reserve Fund, Capital Investment Fund, Civil Service Pension Reserve Fund, Disaster Relief Fund, Innovation and Technology Fund, Land Fund, Loan Fund and Lotteries Fund. It excludes the Bond Fund, the balance of which is not part of the fiscal reserves. The Bond Fund balance as at June 30, 2026, was HK$153,030 million.
 
2. Includes transactions with the Exchange Fund and resident banks.
 
3. The Government Debts, with proceeds credited to the Capital Works Reserve Fund, comprise:
 
(i) the Green Bonds (equivalent to HK$190,142 million as at June 30, 2026) issued under the Government Sustainable Bond Programme. They were denominated in US dollars (US$9,050 million with maturity from July 2027 to January 2053), euros (6,550 million euros with maturity from November 2026 to November 2041), Renminbi (RMB33,000 million with maturity from July 2026 to July 2054) and Hong Kong dollars (HK$22,500 million with maturity from October 2026 to November 2027);

(ii) the Infrastructure Bonds (equivalent to HK$146,566 million as at June 30, 2026) issued under the Infrastructure Bond Programme. They were denominated in US dollars (US$500 million with maturity in May 2031), Renminbi (RMB55,000 million with maturity from July 2026 to May 2056) and Hong Kong dollars (HK$79,230 million with maturity from August 2026 to May 2056); and 
     They do not include the outstanding bonds with nominal value of HK$100,338 million and alternative bonds with nominal value of US$1,000 million (equivalent to HK$7,841 million as at June 30, 2026) issued under the Government Bond Programme with proceeds credited to the Bond Fund. Of these bonds under the Government Bond Programme (including Silver Bonds with nominal value of HK$53,238 million, which may be redeemed before maturity upon request from bond holders), bonds with nominal value of HK$69,838 million will mature within the period from July 2026 to June 2027, and the rest within the period from July 2027 to May 2042.
 
4. Includes guarantees provided under the SME Loan Guarantee Scheme launched in 2001, the Special Loan Guarantee Scheme launched in 2008, the SME Financing Guarantee Scheme launched in 2012, the Loan Guarantee Scheme for Cross-boundary Passenger Transport Trade, the Loan Guarantee Scheme for Battery Electric Taxis and the Loan Guarantee Scheme for Travel Sector launched in 2023, and the commercial loan under Guaranteed Medium Term Note Programme of the Hong Kong Cyberport Management Company Limited.
 
5. Includes HK$249,839 million, being the balance of the Land Fund held in the name of Future Fund, for long-term investments up to December 31, 2030. The Future Fund also includes HK$4,800 million, being one-third of the actual surplus in 2015-16 as top-up.
Issued at HKT 16:30

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Advance estimates on Gross Domestic Product for second quarter of 2026

Source: Hong Kong Government special administrative region

     The Census and Statistics Department (C&SD) released today (July 31) the advance estimates on Gross Domestic Product (GDP) for the second quarter of 2026.

     According to the advance estimates, GDP increased by 4.3% in real terms in the second quarter of 2026 over a year earlier, compared with the increase of 5.9% in the first quarter.

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47 landlords of subdivided units under regulated tenancies convicted of contravening relevant statutory requirements

Source: Hong Kong Government special administrative region

47 landlords of subdivided units under regulated tenancies convicted of contravening relevant statutory requirements 
     The offences of these 47 landlords include (1) failing to submit a Notice of Tenancy (Form AR2) to the Commissioner of Rating and Valuation within 60 days after the term of the regulated tenancy commenced; (2) failing to produce copies of the bills and provide an account in writing when requiring the tenant to pay for the reimbursement of the apportioned water and/or electricity charges; (3) requiring the tenant to pay for the reimbursement of the apportioned water and/or electricity charges at a sum exceeding the apportioned amount as shown in the relevant account in writing; (4) failing to provide the tenant with a rent receipt; and (5) requesting the tenant to pay money other than the types permitted under the Ordinance (including requiring the tenant to pay an amount of rent for the second-term tenancy exceeding the maximum amount of rent permitted under the Ordinance).

     The RVD earlier discovered that the landlords failed to comply with the relevant requirements under the Ordinance. Upon a comprehensive investigation and evidence collection, the RVD prosecuted the landlords.
 
     A spokesman for the RVD reiterated that SDU landlords must comply with the relevant requirements under the Ordinance, including prohibiting landlords from doing any act calculated to interfere with the peace or comfort of members of the tenant’s household, with the intention of causing the tenant to give up occupation of the SDU; or requiring the tenant to pay an amount of rent for the second-term tenancy exceeding the maximum amount of rent permitted under the Ordinance, and also reminded tenants of their rights under the Ordinance, including a four-year (i.e. two years plus two years) security of tenure. He also stressed that the RVD will continue to take resolute enforcement action against any contraventions of the Ordinance. Apart from following up on reported cases, the RVD has been adopting a multipronged approach to proactively identify, investigate and follow up on cases concerning landlords who are suspected of contravening the Ordinance. In particular, the RVD has been requiring landlords of regulated tenancies to provide information and reference documents of their tenancies for checking whether they have complied with the requirements of the Ordinance. If a landlord, without reasonable excuse, refuses to provide the relevant information or neglects the RVD’s request, the landlord commits an offence and is liable to a maximum fine at level 3 ($10,000) and to imprisonment for three months. Depending on the actual circumstances, and having regard to the information and evidence collected, the RVD will take appropriate actions on individual cases, including instigating prosecution against suspected contraventions of the Ordinance. In addition, the RVD has started a new round of publicity and education work to enhance public awareness about the key offences and penalties, emphasising that the RVD proactively checks whether landlords have committed the offences under the Ordinance.  
     The RVD reminds that pursuant to the Ordinance, a regulated cycle of regulated tenancies is to comprise two consecutive regulated tenancies (i.e. the first-term tenancy and second-term tenancy) for an SDU, and the term of each regulated tenancy is two years. A tenant of a first-term tenancy for an SDU is entitled to be granted a second-term tenancy of the regulated cycle, thus enjoying a total of four years of security of tenure. The RVD has been issuing letters enclosing relevant information to the landlords and tenants concerned of regulated tenancies in batches, according to the expiry time of their first-term tenancies, to assist them in understanding the important matters pertaining to the second-term tenancy, and to remind them about the procedures that need to be followed about two months prior to the commencement of the purported second-term tenancy as well as their respective obligations and rights under the Ordinance. These landlords and tenants may also visit the dedicated page for the second-term tenancy on the RVD’s website (www.rvd.gov.hk/en/tenancy_matters/second_term_tenancy.html 
     For enquiries related to regulated tenancies, please call the telephone hotline (2150 8303) or visit the RVD’s webpage (www.rvd.gov.hk/en/our_services/part_iva.htmlIssued at HKT 16:00

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