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.
InvestHK promotes Hong Kong's business advantages during Beijing-Hong Kong Economic Cooperation Symposium
Invest Hong Kong attended the 27th Beijing-Hong Kong Economic Cooperation Symposium and Beijing-Hong Kong Cooperation Promotion Conference today (September 20) in Beijing, promoting Hong Kong's business advantages to Mainland enterprises. The department also joined one of the "Invest in Hong Kong" thematic sessions - "Special Promotion Activities for Trade and Logistics Cooperation" on the first day of the symposium, encouraging Mainland enterprises to make use of Hong Kong's advantages as a multinational supply chain management centre to expand overseas amid the Belt and Road Initiative and the Guangdong-Hong Kong-Macao Greater Bay Area development.
The Secretary for Transport and Logistics, Mr Lam Sai-hung, and the Under Secretary for Commerce and Economic Development of the Government of the Hong Kong Special Administrative Region (HKSAR), Dr Bernard Chan, attended the event and delivered keynote speeches, followed by a presentation from the Director-General of Investment Promotion, Ms Alpha Lau, on Hong Kong's advantages as a multinational supply chain management centre.
Dr Chan said, under the "one country, two systems" principle, Hong Kong has the distinctive advantages of enjoying strong support of the motherland and being closely connected to the world. The city, as an international financial, transportation and trade centre, will give full play to its dual roles in going global and attracting foreign investment, helping Beijing's enterprises to go global and connect with international markets, as well as bringing overseas investment, talent and projects to various provinces and cities on the Mainland, including Beijing. Under the 14th Five-Year Plan, the country supports Hong Kong to further enhance its status as an international trade centre. The HKSAR Government actively explores new markets, including Association of Southeast Asian Nations and Middle East countries, while strengthening its ties with traditional markets via its 65 offices from around the world. In addition, the HKSAR Government will continue to strengthen its work on attracting investment and its ties with investment promotion departments from various provinces and cities on the Mainland to work together to go global. He hopes that both Beijing and Hong Kong will take the success of today's event as a new starting point to deepen exchanges in the future and reach more significant achievements of co-operation.
Ms Lau said that Hong Kong plays important roles as a "super-connector" and a "super value-adder" between the Mainland and the rest of the world, serving as a two-way springboard for attracting overseas enterprises and for Mainland enterprises to go global. With Hong Kong's favourable business environment, including deep experience in foreign trade and financing, excellent professional services, high-quality talent and capital, well-established ports, airport and other infrastructure as well as reliable trade finance channels, the city can serve as a multinational supply chain management centre for Mainland enterprises. Meanwhile, Hong Kong, as Asia's preferred international financial and business centre, offers Mainland enterprises comprehensive and well-developed professional services, making it the best place for them to set up and manage offshore trade centres. Mainland enterprises can make use of Hong Kong's professional services and new investment opportunities to accelerate their overseas expansion.
The thematic presentation aimed to encourage Beijing enterprises to leverage Hong Kong's status as an international financial, shipping and trade centre, as well as its strategic position as an international hub for high-calibre talent, the advantage in professional service and its active role in serving as a multinational supply chain management centre for Mainland enterprises, to better manage their overseas production capacity and supply chain.
For event photos, please visit www.flickr.com/photos/investhk/albums/72177720320476234.
InvestHK promotes Hong Kong's business advantages during Beijing-Hong Kong Economic Cooperation Symposium Source: HKSAR Government Press Releases
InvestHK promotes Hong Kong's business advantages during Beijing-Hong Kong Economic Cooperation Symposium Source: HKSAR Government Press Releases
InvestHK promotes Hong Kong's business advantages during Beijing-Hong Kong Economic Cooperation Symposium Source: HKSAR Government Press Releases
