HKMA Reports 2.4% Increase in Stored Value Facility Accounts for Q2 2024

Statistics of Stored Value Facilities Schemes issued by SVF Licensees

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

The Hong Kong Monetary Authority (HKMA) published today (September 20) statistics on Statistics of Stored Value Facilities (SVF)schemes issued by SVF licensees for the second quarter of 2024.

The SVF scheme statistics (see Annex) include quarterly data on SVF schemes issued by the SVF licensees of the relevant periods.

According to the quarterly statistics, the total number of SVF accounts in use (Note 1) was 75.36 million by the end of Q2/2024, representing a 2.4 per cent increase from the previous quarter. The total number of SVF transactions was around 2.0 billion for Q2/2024, or 1.0 per cent higher than the previous quarter. The total value of SVF transactions was HK$173.8 billion for Q2/2024, representing a 4.6 per cent increase from the previous quarter. Of the total transaction value, HK$42.8 billion was related to point-of-sale spending payment, HK$26.0 billion in online spending payment, HK$15.1 billion in P2P funds transfer and HK$89.9 billion in add value. The total float and SVF deposit (Note 2) was HK$17.9 billion by the end of Q2/2024, 2.5 per cent higher than the previous quarter.

As compared with the end of Q2/2023, the total number of SVF accounts in use at the end of Q2/2024 was up by 14.5 per cent, and the total float and SVF deposit was up by 8.2 per cent. The total number and value of SVF transactions during Q2/2024 were up by 0.4 per cent and 3.3 per cent respectively year-on-year.

Note 1: "Total number of SVF accounts in use" refers to the total number of SVF accounts that can be used as at the end of the reporting period.

Note 2: The terms "float" and "SVF deposit" follow their definitions in the Payment Systems and Stored Value Facilities Ordinance.

LegCo delegation begins duty visit to Japan

The following is issued on behalf of the Legislative Council Secretariat:

The Legislative Council (LegCo) delegation (the delegation), led by the President of LegCo, Mr Andrew Leung, began a four-day duty visit in Japan today (December 21) to strengthen ties with Japan and gain a deeper understanding of the latest situations and opportunities of the country in the areas of trade, culture and tourism, fisheries and agriculture, and food safety.

Upon arrival in Tokyo, the delegation had dinner and exchanged views with representatives of the Hong Kong Economic and Trade Office in Tokyo. Members and the Principal Hong Kong Economic and Trade Representative (Tokyo), Miss Winsome Au, discussed issues such as fostering the bilateral economic and trade relations between Hong Kong and Japan, attracting investment, and promoting Hong Kong tourism. Members also gained insight into the latest developments of Japanese culture, and explored the opportunities for collaboration between Hong Kong and Japan’s cultural industries. Mr Leung expressed gratitude to the Hong Kong Economic and Trade Office in Tokyo for their assistance in facilitating this duty visit.

The delegation will continue their duty visit in Japan tomorrow (December 22).

The delegation is led by Mr Leung. The Deputy delegation leader is the Chairman of the Parliamentary Liaison Subcommittee, Mr Tommy Cheung. Other participating Subcommittee members are Mr Jeffrey Lam, Mr Dominic Lee, Ms Nixie Lam, Ms Joephy Chan, Mr Tang Fei and Mr Yim Kong.

LegCo delegation begins duty visit to Japan Source: HKSAR Government Press Releases