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Foreword
Introduction
About HLB International
General Information
Trade, Monetary, Financial & Legal System
Statutory Audit Requirements
Hong Kong Tax Structure
Setting up Companies in Hong Kong
Listing on the Hong Kong Stock Exchange
Doing Business in HK
Trade, Monetary, Financial & Legal System
Banking System

Hong Kong has a three-tier system for financial institutions. They are divided into licensed banks, licensed deposit taking companies and registered deposit taking companies. Seventy of the largest 100 banks in the world operate in the Hong Kong SAR. At the end of December 2018, there were 186 authorised financial institutions and 48 representative offices. In addition, at the end of November 2018, total loans provided by authorized institutions to finance international trade and other loans for use outside Hong Kong, amounted to US$302.9 billion and US$4,106.9 billion respectively. Financial services are of a high level and all the sophisticated banking services are available that one may expect in an environment that claims to be the world’s third major financial centre. Statutory requirements are laid down in the Banking Ordinance whilst the Monetary Authority (“HKMA”) is entrusted with the supervision of the industry.