In both dimensions, I believe this kind of long-term approach is the hallmark of a high-quality financial system. Concluding remarks 27. I hope these reflections have shed some light on Hong Kong’s distinctive qualities as an international financial centre. It is resilient – our institutions and markets remain safe and sound in good times and bad. And it offers huge opportunities to local and global participants, driven by the Mainland’s continued financial liberalisation, as well as developments in fintech and green finance. 28. My team and I are committed to upholding these qualities. We will continue to reinforce Hong Kong’s position as an international financial centre of the highest quality. This journey has no end – and we will rely as always on strong support from everyone that we work with, including many of you. I am confident that, by working together, we can continue to build on Hong Kong’s unique foundation – and enhance our position as one of the world’s pre3/4  BIS central bankers' speeches  eminent financial centres. 29. It only remains for me to thank the Hong Kong Management Association for having me here tonight; to thank you all for your attention; and to congratulate the winners of the Quality Award – your achievements are rightly honoured today. 4/4  BIS central bankers' speeches
The SME financing guide book being launched today is initiated by the Institute of Bankers Malaysia to provide detailed guidance to assist SMEs in their applications for financing from financial institutions. It also provides information on the factors that are taken into consideration by financial institutions in approving the applications. In addition, it elaborates on the responsibility of borrowers, and the redress mechanisms that are available. Irrespective of sectors, SMEs should adopt best practices in financial management to ensure their business will remain sustainable. Managing costs will also enhance the performance and competitiveness of the business in both domestic and global markets. SMEs should therefore actively draw on the wide range of products and services including advisory services offered for every stage of its business cycle, whether it is a start-up, growing or a matured business. The expertise, extensive network and the broad range of services and products which are in place should be leveraged upon by the SMEs. Recognising the importance of SMEs in contributing to the socioeconomic development of the country, the Government has introduced various programmes to assist SMEs through its Ministries and agencies. The infrastructure to support access to SME financing has also vastly improved compared to a decade ago. In 2012, a total of RM217.2 billion in financing has been disbursed to SMEs through the banking system, compared to only RM87.1 billion in 2003. This year, 155 SME development programmes with an allocation of RM18.4 billion have been developed and which is being channeled through government agencies and the private sector.