Northern Metropolis Financial Advisory Taskforce Holds its Second Meeting to Promote Development

Northern Metropolis Financial Advisory Taskforce holds its second meeting

The following is issued on behalf of the Hong Kong Monetary Authority:

The Northern Metropolis Financial Advisory Taskforce (Taskforce), jointly established by the Hong Kong Monetary Authority (HKMA) and The Hong Kong Association of Banks (HKAB), convened its second meeting today (August 26) to explore how the banking sector can facilitate the implementation of Northern Metropolis projects through diverse financing models.

At the meeting, the Financial Services and the Treasury Bureau (FSTB) presented the diversified development models adopted by the Government to expedite the development of the Northern Metropolis, including through establishing industry park companies to participate in the development and operation of industries (Note 1), as well as guiding market forces to accelerate project development through public-private partnerships (PPPs). The FSTB also noted that funding for Northern Metropolis-related public works projects secured from the Legislative Council Finance Committee has already exceeded HK$180 billion (Note 2), demonstrating the Government's firm commitment to the Northern Metropolis development. In addition, the Hung Shui Kiu Industry Park Company Limited gave an introduction to the development direction, strategies and models for the Industry Park as well as collaboration opportunities for the banking sector. Such information enables banks to prepare in advance for the provision of financing and other ancillary financial services to support the development of industry park projects.

Considering that many Northern Metropolis projects will adopt diverse PPP models, a dedicated Workstream on PPP Financing (Workstream) (Note 3)has been established under the Taskforce to promote the exchange of industry expertise in related areas. During the meeting, the Workstream presented PPP financing case studies from the Chinese Mainland and overseas, covering projects in areas including large-scale land disposal, education, transportation and infrastructure. The Workstream will draw on relevant experiences to examine different development models and risk mitigation measures that can enhance the bankability of the projects in the Northern Metropolis. It will also explore complementary arrangements to support PPP project financing, including developing financing templates for reference by banks, with the aim of expediting the provision of targeted financing solutions for Northern Metropolis-related projects.

Meeting participants included representatives from the HKMA, the HKAB, the Development Bureau, the FSTB, the Innovation, Technology and Industry Bureau, the Hung Shui Kiu Industry Park Company Limited and 23 participating banks in the Taskforce (see Annex).

Source: HKSAR Government Press Releases

Northern Metropolis Financial Advisory Taskforce

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The Northern Metropolis Financial Advisory Taskforce was jointly established by the HKMA and the HKAB in April 2026 to strengthen the banking sector's communication and collaboration with the Hong Kong Special Administrative Region Government and other stakeholders and explore ways to actively support the Northern Metropolis development through financing. The Taskforce comprises representatives from the HKMA, the HKAB and 23 banks that possess experience in large-scale project financing. The Chinese Banking Association of Hong Kong and the Infrastructure Financing and Securitisation Unit of the Hong Kong Mortgage Corporation Limited participate as observers.

Note 1: The Government has injected funding of HK$10 billion into each of the three dedicated industry companies, namely Hong Kong-Shenzhen Innovation and Technology Park Limited, Hung Shui Kiu Industry Park Company Limited, and San Tin Technopole Company Limited.

Note 2:As at July 2026.

Note 3:The six member banks include Bank of China (Hong Kong) Limited, BNP Paribas, China Development Bank Hong Kong Branch, DBS Bank (Hong Kong) Limited, the Hongkong and Shanghai Banking Corporation Limited, and Standard Chartered Bank (Hong Kong) Limited.

The Northern Metropolis Financial Advisory Taskforce, jointly established by the Hong Kong Monetary Authority and the Hong Kong Association of Banks, holds its second meeting today (August 26) to discuss different development projects in the Northern Metropolis and their financing needs. Source: HKSAR Government Press Releases

Health Bureau releases Hong Kong's Domestic Health Accounts 2024/25

The Health Bureau (HHB) released Hong Kong's Domestic Health Accounts (DHA) 2024/25 today (Aug 26), together with revised figures for previous years adjusted in accordance with international practice to incorporate the latest available information. The DHA provides a systematic description of the flow of health expenditure in Hong Kong over a 12-month period, forming a basis for assessing and understanding the levels and trends of health spending in Hong Kong.

The Health Bureau, Photo source: reference image

Overall speaking, the trend of health expenditure for 2024/25 remained steady. The Current Health Expenditure (CHE) in Hong Kong was $262,513 million, representing an increase of 5.0 per cent (or $12,491 million) over a year earlier. The CHE as a percentage of Gross Domestic Product (GDP) was 8.2 per cent, similar to that of last year. The CHE per capita was $34,890.

Public healthcare expenditure ($135,450 million) accounted for 51.6 per cent of the CHE in 2024/25, and public CHE per capita was $18,000. Public CHE as a percentage of GDP was 4.2 per cent, similar to that of last year. Over the past 10 years, both CHE and public CHE in Hong Kong as a percentage of GDP showed an upward trend in general.

As for private healthcare expenditure ($127,063 million), it accounted for 48.4 per cent of the CHE in Hong Kong, or 3.9 per cent as a percentage of GDP, in 2024/25.

Photo source: reference image

The Government has been actively advancing primary healthcare reform in accordance with the directions set out in the Primary Healthcare Blueprint, gradually shifting the emphasis of the healthcare system from treatment-focused secondary and tertiary care to prevention-oriented, family doctor-centred primary healthcare. Since its establishment, the Primary Healthcare Commission has not only continued to expand the district health network, but has also been continuously enhancing and promoting the Chronic Disease Co-Care Scheme. In 2024/25, the primary healthcare expenditure accounted for 30.4 per cent of the overall CHE, and is progressing towards the Blueprint's objective of achieving a better balance between primary and secondary/tertiary care in overall healthcare expenditure, such as around 3.5:6.5 or even 4:6, in the long run. This reflects that the Government is gradually establishing a more sustainable healthcare system to cope with challenges posed by an ageing population, the increasing prevalence of chronic diseases, and more.

The DHA is compiled in accordance with the guidelines given in "A System of Health Accounts 2011" collaboratively published by the Organisation for Economic Co-operation and Development, Eurostat and the World Health Organization. It classifies the overall health expenditure into four dimensions of analysis, namely Health Care Financing Schemes (HFS), Revenues of HFS, Health Care Providers and Health Care Functions. These data enable policymakers, researchers and members of the public to assess the performance of the Hong Kong health system over time and to make comparisons with other economies that adopt the same framework in calculating their health expenditure.

Photo source: reference image

The DHA 2024/25 has been uploaded to the HHB website (www.healthbureau.gov.hk/statistics/en/dha.htm). Detailed classifications and time-series data are shown in an online interactive data dashboard with tables and graphs available to facilitate further analysis and research.