Survey on Small and Medium-Sized Enterprises (SMEs)’ Credit Conditions for Fourth Quarter 2024

The Hong Kong Monetary Authority (HKMA) published the results of its Survey on Small and Medium-Sized Enterprises (SMEs) Credit Conditions for the fourth quarter of 2024, showing that credit conditions remained broadly stable. Seventy percent of surveyed SMEs perceived a “similar” or “easier” credit approval stance from banks, down from 76% in the previous quarter, while 30% felt the process had become “more difficult.” Notably, 0% reported a “tighter” stance on existing credit lines, a decrease from 1%. Additionally, only 4% of SMEs applied for new bank credit, with 77% of those reporting successful outcomes, down from 79%. Due to small sample sizes, the results may be subject to fluctuations and should be interpreted cautiously. The HKMA conducts this survey quarterly to monitor SMEs’ access to bank credit, highlighting their importance to the Hong Kong economy, with detailed results available on the Hong Kong Productivity Council’s website. Resources: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2025/02/20250203-3/