HKMA pushes data innovation for SME growth

The Hong Kong Monetary Authority said it has been exploring data's role in boosting Hong Kong's real economy in continued efforts to promote the city's data infrastructure.

At the Data Summit 2025, HKMA chief executive Eddie Yue Wai-man said 40 percent of small and medium-sized enterprises, which occupies 98 percent of the total enterprises, are doing exports and imports as well as wholesale and retail.

Helping such firms facilitate bank financing and innovation will further promote the commercial and trade sector, Yue said on Monday, urging further digitalization and higher efficiency of data infrastructure.

He added that the next-generation Commercial Data Interchange data infrastructure – launched in October 2022 – will continue to optimize trade finance processes, spur innovation and support SME growth.

The summit, co-organized by the HKMA and the Hong Kong Association of Banks, drew around 800 senior executives and industry professionals.

STAFF REPORTER