As one of the key priorities at this year’s Asia-Pacific Economic Cooperation Finance Ministerial Meeting, Hong Kong continues to promote financial inclusion, extending the benefits of financial services to more small and medium enterprises (SMEs).

The special administrative region’s efforts to support SME development aligns with Hong Kong’s strengths and offers opportunities for it to contribute actively to the region, according to the city’s senior officials.

Scheduled to take place on Tuesday and Wednesday, the 33rd APEC Finance Ministerial Meeting focuses on four main areas: fiscal policies that support people's livelihoods, financing for digital infrastructure, financial inclusion, and exchanges and cooperation among young professionals in economics and finance.

“Governments need to provide predictable, investment-friendly policies and modernize regulatory frameworks, giving businesses the confidence to innovate and invest,” said Hong Kong Financial Secretary Paul Chan Mo-po on Tuesday, at a plenary session of the meeting.

As the bedrock of the city’s economy, SMEs numbered nearly 360,000 in Hong Kong at the halfway point in 2026, accounting for over 98 percent of all local enterprises, according to the Census and Statistics Department of the Hong Kong Special Administrative Region government.

Hong Kong has attached great significance to supporting SMEs and cross-border trade through strengthening trade finance and supply chain finance as a part of the vision to advance “Finance + Trade”, which was set out in the city’s inaugural Five-Year Plan for Economic and Social Development (2026-2030), said Secretary for Financial Services and the Treasury Christopher Hui Ching-yu.

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“Under ‘Finance + Trade’, we are stepping up support for small and medium-sized enterprises,” Hui said during the APEC Finance Ministerial Meeting 2026 seminars on Tuesday. “The Hong Kong Monetary Authority (HKMA) has been playing a pivotal role through various initiatives and innovative financing solutions,” he added.

Aimed at simplifying the loan application process, the Commercial Data Interchange, launched by the HKMA in 2022, allows SMEs to authorize banks in advance to access their operational data from different sources, improving the efficiency of loan approvals and helping to ease financial difficulties.

By the end of June 2026, the platform had facilitated more than 108,000 loan applications, with approved credit totaling nearly HK$90 billion ($11.5 billion), according to Eddie Yue Wai-man, chief executive of the HKMA.

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In addition, the HKMA rolled out a new round of measures this April to help local SMEs gain better access to financial aid amid a fast-changing market environment, including increasing dedicated funds set aside for SMEs provided by 18 participating banks in the Taskforce on SME Lending to over HK$450 billion.

The HK$10 billion Innovation and Technology Industry Oriented Fund was introduced by Hong Kong’s financial chief in the 2026-27 Budget to invest in strategically important fields, such as life and health technology, artificial intelligence and robotics, and future industries.

Spotting the pain points for local startup in securing stronger access to early-stage growth capital and commercialization, the Hong Kong Science and Technology Parks Corporation (HKSTP), the city’s largest innovation and technology ecosystem, offers abundant funds for startups as well as industry connections.

“The city’s common law system, intellectual property protection, financial infrastructure, and professional services help enterprises make the leap from technical promise to internationally investable business,” said Terry Wong, the CEO of HKSTP.

“I believe the next eight to 10 years will be a golden era for Hong Kong to produce more high-quality, large-scale tech enterprises.”

Sunny Tan, chairman of Hong Kong Productivity Council, added, “With the rapid development of artificial intelligence and the digital economy, policy support should help SMEs accelerate their digital, intelligent, and innovation-driven transformation — effectively translating technology into tangible gains in productivity and competitiveness.”

Contact the writer at rayjia@chinadailyhk.com