UOB, Hang Seng Bank back five-year plan on RMB and SME priorities

Hong Kong plans to strengthen its role as a global offshore renminbi hub.

Banks in Hong Kong welcomed the government’s First Five-Year Plan, highlighting the focus on offshore renminbi (RMB), wealth management, and small and medium enterprise (SME) support measures.

UOB Hong Kong welcomed Hong Kong’s five-year plan, noting the government’s plans to strengthen the city’s role as a global offshore renminbi business hub, international wealth management centre, and international risk management centre.

UOB Hong Kong also noted digital finance, green finance, and commodity trading as emerging growth areas.

The plan creates new growth engines through technology and deeper regional integration, said George Tung, chief executive officer of UOB Hong Kong.

“As economic ties between China and ASEAN continue to deepen, Hong Kong is uniquely positioned to facilitate greater trade, investment and capital flows across the region. We look forward to supporting our customers in capturing these opportunities,” Tung said in a statement on 22 September 2026.

In a separate statement, homegrown lender Hang Seng Bank said that the plan’s initiative aligns with the bank’s focus on local businesses, noting the announced measures to support SMEs.

Hang Seng Bank’s SME Power Up Fund and digital banking platform will help businesses improve cash flow and invest for growth, said Luanne Lim, executive director and chief executive of the bank.

“Leveraging our heritage in gold and comprehensive product suite, we are well-positioned to contribute to the broader commodities ecosystem, while also backing businesses, talent and communities in the Northern Metropolis – supporting Hong Kong’s long-term role as an international financial centre,” Lim said in a statement on 16 September.

Hang Seng Bank also highlighted intergenerational prosperity, saying that they will support young people’s development, deepen the silver economy and retirement protection, and strengthen its family wealth management proposition.

Meanwhile UOB Hong Kong said that it can help support the Northern Metropolis development through capital mobilisation, business financing, and advisory services.

UOB Hong Kong also said it is “encouraged” by the plan’s commitment to deeper Greater Bay Area integration, and that it looks forward to supporting businesses through integrated financing, treasury and advisory solutions.