The prevailing economic uncertainty, combined with sluggish income growth in the local market, is adversely affecting the cash flow of individuals. The overall increase in interest rates further compounds the situation, as consumers become increasingly cautious about borrowing.
Despite all eight virtual banks in Hong Kong still reporting losses, the Hong Kong Monetary Authority (HKMA) remains committed to promoting the development of fintech and the provision of improved banking services at reduced costs through these digital banks. In line with this objective, ZA Bank recently formed partnerships with Hong Kong Telecom, Boston Consulting Group, and EBO Financial to conduct a simulation using digital Hong Kong dollars (eHKD) in tokenised property-backed loans as part of the HKMA's eHKD pilot project.
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Understand the latest market trends and future growth opportunities for the Consumer Credit industry in Hong Kong, China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Consumer Credit industry in Hong Kong, China, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Consumer Credit
Non-mortgage consumer debt extended to individuals for personal or household use including installment loans and credit cards. Examples of consumer credit include auto lending, card lending, durables lending, education lending, home lending and other personal loans. Consumer credit includes both revolving and non-revolving credit.
See All of Our DefinitionsThis report originates from Passport, our Consumer Credit research and analysis database.
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