On April 22, the Hong Kong Monetary Authority and the Hong Kong Association of Banks jointly announced the establishment of the “Northern Metropolis Financial Advisory Working Group” to explore ways to actively support the development of the Northern Metropolis from a financing perspective.

It is reported that the working group has three functions: first, to provide professional advice on financing and banking services for the Northern Metropolis development; second, to explore opportunities in the Northern Metropolis, understand related financing needs, and propose practical financing recommendations to drive project development; and third, to promote knowledge and experience exchange within the banking industry to enhance support for key projects in the Northern Metropolis.

The Hong Kong Northern Metropolis borders Shenzhen and includes Yuen Long District and North District, covering an area of about 300 square kilometers, roughly one-third of Hong Kong. This concept was first proposed in Hong Kong’s 2021 Policy Address, aiming to build the northern part of Hong Kong into a livable, workable, and tourist-friendly metropolitan area.

Representatives of the working group come from the Hong Kong Monetary Authority, the Hong Kong Association of Banks, and 15 banks with experience in large-scale project financing. Additionally, the Chinese Banking Association of Hong Kong will participate as an observer to support related work.

Disclosed data from the Hong Kong Monetary Authority shows that the 15 banks include Agricultural Bank of China Hong Kong Branch, Bank of China (Hong Kong) (02388.HK), Bank of Communications (Hong Kong), Bank of East Asia (00023.HK), China CITIC Bank International, China Construction Bank (Asia), China Development Bank Hong Kong Branch, CMB Wing Lung Bank, DBS Bank (Hong Kong), Hang Seng Bank, HSBC (00005.HK), Industrial Bank, Industrial and Commercial Bank of China (Asia), Nanyang Commercial Bank, and Standard Chartered Bank (Hong Kong) (02888.HK).

Geographically, the Northern Metropolis is adjacent to Shenzhen and serves as a natural extension of the Lok Ma Chau Loop area, encompassing reserved new development land and industrial projects. This is crucial for Hong Kong’s future development and competitiveness. Recently, on April 14, the Hong Kong Special Administrative Region government further approved the transfer of HK$150 billion from the Exchange Fund to the Government’s Capital Works Reserve Fund to support the Northern Metropolis and other infrastructure projects.

In early 2026, Shenzhen also announced it would fully strengthen alignment with the Northern Metropolis development strategy, complete and open the new Huanggang Port, accelerate the construction of projects such as the Lok Ma Chau Loop West Cross-River Bridge and the new Channel No. 1, and jointly promote the planning and construction of the Hong Kong-Shenzhen Western Rail Link and the Hong Kong Northern Link spur line with Hong Kong. In March 2026, the “15th Five-Year Plan” outline included accelerating the construction of the Northern Metropolis into the national five-year plan.

On April 21, the newly established Northern Metropolis Financial Advisory Working Group visited the Hung Shui Kiu/Ha Tsuen New Development Area and the Lok Ma Chau Loop in the Northern Metropolis to understand the latest progress and overall planning, laying the foundation for future discussions and recommendations.

On April 21, the Northern Metropolis Financial Advisory Working Group visited the Hong Kong Park of the Lok Ma Chau Loop Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone and listened to an introduction of the park’s development from the Deputy Secretary for Innovation, Technology and Industry.

Image source: Hong Kong Monetary Authority

A deputy chief executive of the Hong Kong Monetary Authority stated that the establishment of the “Northern Metropolis Financial Advisory Working Group” provides an important coordination platform for the authority and the banking industry to jointly support the development of the Northern Metropolis. Participating banks will leverage their financial expertise and experience to propose practical financing opinions and plans, accelerating the implementation of Northern Metropolis projects and providing solid support for Hong Kong’s long-term development.

The chairman of the Hong Kong Association of Banks and vice chairman and president of Bank of China (Hong Kong) stated that with the national “15th Five-Year Plan” clearly supporting the acceleration of Northern Metropolis construction, the Northern Metropolis has not only become a key engine for Hong Kong’s economic development but also a bridgehead for Hong Kong to integrate into and serve the

Northern Metropolis

The Northern Metropolis is a large-scale development project announced by the Hong Kong government in 2021, aimed at transforming areas near the Shenzhen-Hong Kong border into a major hub for innovation, technology, and housing. Spanning approximately 300 square kilometers, it is designed to accommodate up to 2.5 million residents and create around 650,000 jobs. The project seeks to strengthen Hong Kong’s integration with mainland China, particularly the Greater Bay Area, while preserving nearby wetlands and ecological zones.

Yuen Long District

Yuen Long District is a sprawling area in Hong Kong’s New Territories, known for its blend of rural landscapes and urban development. Historically, it was a center of Punti (Cantonese) and Hakka settlement, with its fertile plains supporting traditional farming and fishing villages for centuries. Today, it features landmarks like the ancient Ping Shan Heritage Trail, which showcases the area’s rich clan history through ancestral halls and temples.

North District

The North District, located in Hong Kong, is a region that blends urban development with rural landscapes, including the historic walled village of Fanling. Historically, it was a key agricultural area and a refuge for clans like the Tang and Liu during the Song and Ming dynasties. Today, it is known for its border with mainland China, the Hong Kong Wetland Park, and traditional festivals like the Tin Hau celebrations.

Lok Ma Chau Loop

The Lok Ma Chau Loop is a 90-hectare area of land located along the border between Hong Kong and Shenzhen, China, created by the realignment of the Shenzhen River in the 1990s. Historically, it was a floodplain that became the subject of territorial disputes, but it was later agreed to be under Hong Kong’s jurisdiction. Today, the site is being developed into a major innovation and technology park, including the Hong Kong-Shenzhen Innovation and Technology Park, aiming to foster cross-border collaboration in research and development.

Huanggang Port

Huanggang Port is a major land border crossing between Hong Kong and mainland China, located in Shenzhen’s Futian District. Opened in 1991, it became one of the busiest passenger clearance points, particularly after the 24-hour operation began in 2003, facilitating cross-border travel and trade. The port has played a key role in connecting Hong Kong with the mainland, supporting economic integration and daily commutes for thousands of residents.

Hong Kong-Shenzhen Western Rail Link

The Hong Kong-Shenzhen Western Rail Link is a proposed cross-border railway connecting Hong Kong’s Hung Shui Kiu area with Shenzhen’s Qianhai district. The project aims to strengthen economic integration and transportation links between the two cities as part of the Greater Bay Area development plan. As of now, the link is still in the planning and feasibility study stages, with no confirmed construction timeline.

Hung Shui Kiu/Ha Tsuen New Development Area

Hung Shui Kiu/Ha Tsuen New Development Area is a major infrastructure project in Hong Kong’s New Territories, designed to provide housing and employment opportunities. The area encompasses the historic villages of Hung Shui Kiu and Ha Tsuen, which have roots dating back centuries as traditional Hakka and Cantonese settlements. The development plan, initiated in the 2010s, aims to transform the largely rural landscape into a modern, sustainable new town while preserving local heritage sites.

Lok Ma Chau Loop Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone

The Lok Ma Chau Loop is a 87-hectare area located on the border between Shenzhen and Hong Kong, originally formed by the meandering of the Sham Chun River. Historically a floodplain, it was transformed into a key innovation hub following a 2017 agreement between the two governments to establish the Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone. This zone aims to foster cross-border collaboration in research, technology, and entrepreneurship, leveraging the strengths of both cities to drive innovation and economic growth.