HKMA and AMCM sign revised MOU to further strengthen co-operation
The following is issued on behalf of the Hong Kong Monetary Authority:
The representatives of the Hong Kong Monetary Authority (HKMA) and the Monetary Authority of Macao (AMCM) held a meeting today (March 3) to foster closer financial co-operation between the two authorities in several key areas. During the meeting, they signed a revised Memorandum of Understanding (MOU).
The HKMA and the AMCM have maintained close co-operation in banking supervision for many years. Building on the existing framework, the revised MOU expands the scope of collaboration to cover additional areas including financial infrastructure linkage, information exchange on currency and data statistics, and industry training and engagement.
The Chief Executive of the HKMA, Mr Eddie Yue,said, "As core cities in the development of the Guangdong-Hong Kong-Macao Greater Bay Area, Hong Kong and Macao share a common goal to maintain financial stability and support financial development. Our joint efforts not only enhance mutual synergy but also enable both cities to make greater contributions to the country's economic and financial development. The revised MOU expands our co-operation to broader areas such as financial infrastructure and information exchange, laying a more solid foundation for deepening financial collaboration between Hong Kong and Macao."
The Chairman of the AMCM, Mr Simon Vong, said, "The financial co-operation between Macao and Hong Kong is built on solid foundations. In recent years, both sides have been continued to explore new areas for collaboration, including the bond market and financial infrastructures. The newly amended MOU will serve to deepen and broaden the comprehensive co-operation between the two authorities, enabling both parties to uphold the sustained and steady development of our financial markets, while also providing strong support for the national strategic goal of developing the Guangdong-Hong Kong-Macao Greater Bay Area into an international financial hub."
HKMA and AMCM sign revised MOU to further strengthen co-operation Source: HKSAR Government Press Releases
An exceptionally warm February
With the northeast monsoon over southern China generally weaker than normal for most of the time during the month, February 2026 was unseasonably warm in Hong Kong. The monthly mean temperature of 20.1 degrees was 3.0 degrees above the normal and one of the second highest on record for February. The monthly mean maximum temperature of 22.9 degrees and monthly mean minimum temperature of 18.1 degrees were 3.5 degrees and 2.8 degrees respectively above their corresponding normals, and both were the third highest on record for February. Together with the well above normal temperatures in December 2025 and warmer than usual weather during January 2026, Hong Kong experienced the warmest winter on record from December 2025 to February 2026 with the winter mean temperature reaching 19.3 degrees, 2.0 degrees above the normal. The mean maximum temperature of 21.9 degrees and mean minimum temperature of 17.3 were also the highest and the second highest on record for the same period. Moreover, there were only five cold days this winter, one of the third lowest on record. Mainly attributing to the rainfall brought by a trough of low pressure on the last day of the month, the month was slightly wetter than usual. The total rainfall during the month was 41.6 millimetres, about 7 per cent above the normal of 38.9 millimetres. The accumulated rainfall recorded during the first two months of the year was 44.8 millimetres, about 38 per cent below the normal of 71.9 millimetres for the same period.
Under the influence of the northeast monsoon and a band of clouds, the weather in Hong Kong was mainly cloudy on the first day of the month. It was cold with one or two rain patches in the morning, with the temperature at the Hong Kong Observatory falling to the month's lowest of 12.0 degrees. Except for the mainly cloudy weather on February 3 under the influence of an easterly airstream and a band of clouds, the local weather was generally fine on both February 2 and 4 as the cloud bands thinned out. With the moderation of the easterly airstream, local winds weakened during the next two days. The weather was generally fine and warm during the day, though visibility was relatively low in some areas.
A cold front moved across the coast of Guangdong on the morning of February 7. Meanwhile, a band of clouds also covered the coastal areas. Locally, it was mainly cloudy with a few light rain patches. Temperatures over most parts of the territory in the afternoon were 5 to 7 degrees lower than those on February 6. Under the influence of the associated northeast monsoon, the weather remained mainly cloudy with cool mornings from February 8 to 10. It was also dry during the day on February 8 and 9. With the moderation of the northeast monsoon and the thinning out of the cloud band, it turned mainly fine and warm during the day on February 11. Under the influence of an easterly airstream, the weather became mainly cloudy again the next day. It turned generally fine and warm during the day on February 13 as the easterly airstream moderated. Winds were weak over Guangdong from February 14 to 16. Apart from coastal mist on the morning of February 14, the local weather was generally fine and rather warm during the day. The maximum temperature recorded at the Observatory was 26.9 degrees on February 15, equaling the highest record on the 28th day of the 12th lunar month. The minimum temperature recorded at the Observatory was 22.0 degrees on February 16, the highest on record for Lunar New Year's Eve. The temperature at the Observatory further rose to a maximum of 27.9 degrees in the afternoon, the highest of the month and also the highest on record for Lunar New Year's Eve.
With a cold front moving across the coast of Guangdong on the morning of Lunar New Year's Day and a band of clouds covering southern China, the local weather turned cloudy with one or two light rain patches. Visibility was rather low in some areas. The weather became cooler with daytime temperatures generally 7 to 9 degrees lower than those on Lunar New Year's Eve. Under the influence of the associated northeast monsoon and with the cloud band thinning out, local weather turned mainly fine and dry during the day during the following two days. With the moderation of the northeast monsoon, local winds weakened from February 20 to 22. The weather was generally fine and warm during the day. Visibility was relatively low in some areas on February 21 and 22. An easterly airstream brought relatively humid weather to the coast of Guangdong during the next four days. Locally, it was warm with sunny intervals during the day. There was coastal fog on the mornings of February 24 and 25, with visibility at Waglan Island once falling below 1 000 metres. With a trough of low pressure edging closer to the coast of southern China, there were a few rain patches over the territory from the night of February 26 through the following day. There was also coastal fog on the morning of February 27, with visibility at Waglan Island once falling below 500 metres. Under the influence of the trough of low pressure and a strong easterly airstream, it was cloudy with occasional showers on the last day of the month, with more than 20 millimetres of rainfall recorded over most parts of the territory.
One tropical cyclone occurred over the South China Sea and the western North Pacific during February 2026.
Details of issuance and cancellation of various warnings/signals during the month are summarised in Table 1. Monthly meteorological figures and departures from normal for February are tabulated in Table 2.
Source: AI-found images
