Hong Kong Monetary Authority: proposes to increase bank license fees by 23% to HK$750,000, expected to have no impact on Hong Kong's financial competitiveness.

According to the Zhixuan Finance and Economics APP, on June 17th, the Hong Kong government announced its intention to submit a resolution to the Legislative Council to adjust various fees related to bank licenses, establishment of branches and local representative offices, and approval of currency broker registration. This is the first proposed adjustment of these fees since 2024 by the Hong Kong Monetary Authority. Among them, the largest amount is the bank license fee, which is proposed to increase from the current 610,000 Hong Kong dollars to 750,000 Hong Kong dollars, an increase of 23%.