The Hong Kong Monetary Authority made the announcement in response to calls by business leaders to provide a better safety net for SMEs, with some borrowers caught off guard by the COVID pandemic having difficulty getting back on track.

The HKMA has said full details on the task force will be provided at a later stage, although it hinted that the new unit would have an advisory role, rather than an interventionist one.

The Financial Secretary, Paul Chan, has also called on banks to be more flexible with businesses unable to fulfil their repayment obligations as planned.

Will this be enough to save more companies in difficulty?

After 9:45, we find out more about the development of self-driving vehicles in Hong Kong, as a driverless bus trial got underway in Yuen Long this week.

9:05am-9:45am: HKMA's SME taskforce

9:05am-9:30am: Patrick Yeung, CEO of the Hong Kong General Chamber of Commerce

9:05am-9:45am: Kenneth Kwong, Assistant Professor at the Department of Marketing and Programme Director of the Master of Science in Entrepreneurial Management, Hang Seng University of Hong Kong

9:30am-9:45am: Rita Li, Associate Professor in Economics, Department of Economics and Finance, Hong Kong Shue Yan University


9:45am-10:00am: Electric bus trial in Yuen Long

9:45am-10:00am: Peter Goh, CEO of the Hong Kong China Automobile Association