Why HK Firms' Choices of Mainland Banks Draw Attention?

Why is the choice of mainland banks by Hong Kong enterprises becoming a hot topic?

In recent years, with the continuous advancement of the construction of the Guangdong-Hong Kong-Macao Greater Bay Area and changes in China's overall economic environment, an increasing number of Hong Kong enterprises have begun to focus on the services and products provided by mainland banks. This phenomenon not only reflects the deepening integration of the economies of Hong Kong and the mainland but also demonstrates the increasingly close interconnectivity of the two financial markets. So why has the choice of mainland banks by Hong Kong enterprises become a much-discussed topic? There are multiple factors behind this.

Firstly, from a macro perspective, the development of the Guangdong-Hong Kong-Macao Greater Bay Area has provided Hong Kong enterprises with broad development opportunities. According to the latest data from 2025, the GDP of the Greater Bay Area has exceeded 10 trillion RMB, becoming one of the key engines driving China's economic growth. In this context, Hong Kong enterprises naturally wish to leverage this regional advantage to expand their business scope. However, due to differences in law, taxation, and culture between the mainland market and Hong Kong, many Hong Kong enterprises need to rely on the professional services of mainland banks to better adapt to local needs. For example, mainland banks can provide financing solutions, risk assessment tools, and cross-border capital management services that are more aligned with the local market, which significantly increases the demand for mainland banks among Hong Kong enterprises.

Secondly, the acceleration of the internationalization of the renminbi RMB has also brought new opportunities to Hong Kong enterprises. With the growing role of the RMB in global trade settlements, an increasing number of Hong Kong enterprises have started to try using the RMB for cross-border transactions. As the main issuer of the RMB, mainland banks have unique advantages in providing related financial services. For instance, mainland banks can offer more convenient services such as opening RMB accounts and managing exchange rate risks, helping enterprises reduce operational risks caused by currency fluctuations. With the in-depth implementation of the Belt and Road Initiative, mainland banks are actively participating in investment projects along the route, providing Hong Kong enterprises with more possibilities to participate in international markets.

Furthermore, the digital transformation wave sweeping across the globe is reshaping the landscape of traditional banking through the application of financial technology. Mainland banks, leveraging their strong technological capabilities, have made significant progress in areas such as mobile payments, big data analysis, and artificial intelligence. These innovations not only improve service efficiency but also open up new directions for cooperation between Hong Kong enterprises and mainland banks. Especially during the pandemic, the importance of online financial services became increasingly prominent. Mainland banks successfully attracted many Hong Kong enterprises by launching a series of intelligent and personalized digital products. For example, some mainland banks developed specialized online loan platforms for small and medium-sized enterprises, greatly simplifying the application process and lowering financing thresholds, allowing Hong Kong SMEs to enjoy efficient and convenient financial services.

It is worth noting that although Hong Kong enterprises face many favorable conditions when choosing mainland banks, there are still challenges. On one hand, some Hong Kong enterprises still have limited understanding of mainland banks and worry about being unable to fully adapt to the complex financial system on the mainland. On the other hand, due to historical reasons, there may be certain trust barriers between the two regions, and building mutual trust requires joint efforts from both sides. In response to this, mainland banks have taken measures to strengthen communication and exchanges with Hong Kong enterprises, such as regularly hosting seminars and training courses to help Hong Kong enterprises gain a deeper understanding of the rules of the mainland financial market and gradually eliminate misunderstandings between each other.

In summary, the choice of mainland banks by Hong Kong enterprises has become a hot topic because it reflects current changes in the economic landscape and serves as a preview of future trends. Looking ahead, with the continuous deepening of cooperation between the two regions and technological advancements, it is believed that more and more Hong Kong enterprises will choose mainland banks as partners, jointly promoting the economic development of both regions and even the entire Asian region to new heights. At the same time, this also reminds us that whether in personal life or commercial activities, keeping up with the times and actively embracing change remains the key to maintaining competitiveness.