What is banking, and what are its benefits in Hong Kong?

Banking is the industry and practice of offering financial services like “accepting deposits, lending money, and facilitating financial transactions.” Banks are important in the economy as they offer individuals and businesses access to key financial products such as checking and savings accounts, loans, and investment opportunities. Hong Kong’s international banking hub offers various financial services, global connections, and investment possibilities, making it an appealing choice for those looking for a leading financial center.