Hong Kong Banks' Gross Mainland China Exposure Jumps 3% in H1

MT Newswires Live

Dec 09, 2024

Hong Kong banks' gross mainland China exposure (MCE) posted a 3% rise in H1, primarily driven by higher claims on Chinese banks, Fitch Ratings said in a Thursday release.

The rise was due to opportunistic investments in Chinese banks amid excess liquidity and increased activity through Hong Kong's connect schemes, Fitch said.

However, Fitch expects a gradual pace of loan growth in 2025 due to narrow onshore credit demand and squeezed offshore lending appetite.

Meanwhile, the sector's classified-loan ratio for mainland China-linked lending was at 2.8% at the end of Q3, up from 2.6% last year.

Macao banks also saw an 8% increase in their gross MCE for H1, also driven by rising claims on Chinese banks.

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