Three out of 10, or 30% of small and medium-sized local enterprises in Hong Kong found it "more difficult" to obtain credit approval in the fourth quarter, according to a survey by the Hong Kong Monetary Authority released Monday.

The perceived difficulty in credit approval is not necessarily an actual difficulty faced by SMEs during the process, but could be affected by factors such as news reports, business conditions, and personal opinions, the central bank said.

The number was higher compared with 24% in the year-ago period, according to the HKMA.

Seventy percent found it easier to obtain credit during the period, the central bank said.