The Hong Kong Monetary Authority (HKMA) and the Banking Sector SME Lending Coordination Mechanism have announced a further 90-day repayment deferment for trade facilities under the Pre-approved Principal Payment Holiday Scheme, which will expire at the end of July 2023. The deferment applies only to existing trade loans under the Scheme. The extension is aimed at helping a small number of trading companies that are still facing funding pressure due to the pandemic. Existing trade loans under the Scheme falling due between May and July 2023 can be extended by a further 90 days. The Mechanism encourages financially able customers to resume some principal repayment in exchange for greater certainty about their future repayment schedule. The Scheme covers around 120,000 eligible corporate customers and has been extended six times since its launch in May 2020.
resource: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2023/04/20230427-3/