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Banking & finance
News about the global financial industry with a focus on developments in Hong Kong and China.
Financial centres like Dubai are the key centrepoints of the quickly growing corridor between China and the Middle East, according to the Dubai Financial Services Authority. Photo: AFP
China-Middle East relations

More issuers turn to Dubai listings as yuan bonds gain traction in Middle East

Dubai’s dim sum bond momentum points to investor confidence in China and diversification from the US dollar, says regulator.

IPO

Biren surges, China military drills, CES technology show

IPO

Hong Kong retakes IPO crown

IPO

Shares in Chinese GPU start-up Biren soar in Hong Kong listing

Shares leap 82 per cent in debut after retail investors’ demand exceeds supply by 2,347 times.

Zhang Wen, chairman and CEO of Biren, bangs the gong at the company’s listing ceremony in Hong Kong on January 2, 2026, as HKEX CEO Bonnie Chan (left) and Financial Secretary Paul Chan (second from right) look on. Photo: Jonathan Wong
Hong Kong economy

Opinion | How Hong Kong can take on a more frontier role in China’s development

City can go beyond ‘superconnector’ role to be a ‘co-architect of rules’ and become more proactive in areas Beijing deems strategically critical.

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Mergers & Acquisitions

China’s M&A revival points to deeper investor confidence in growth prospects

Deal value is expected to rise, with strategic transactions and overseas ambitions driving momentum.

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Wealth management

Hong Kong’s affluent investors are multimillionaires by 39: HSBC survey

HSBC, the city’s biggest lender, saw double-digit growth in the number of Hong Kong-dollar multimillionaires in 2025.

A man walks past a large HSBC billboard in Central, Hong Kong, on February 19, 2025. Photo: Elson Li
Interest rates

Hong Kong interbank rates forecast to drop on expected 2026 US monetary easing

Savings rates near zero prevent further prime rate reductions, though Hibor-linked loans will get cheaper, analysts say.

Hong Kong

Chinese and Asian suppliers in limbo over fashion chain Claire’s bankruptcy

Suppliers across Asia pursue legal action, but debt recovery prospects remain uncertain.

Stocks

Macroscope | What to expect from Chinese stocks in 2026

While the underperformance of Chinese equities in the last financial quarter warrants scrutiny, overall gains are likely to continue in 2026.

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A woman poses for a photo next to The Bund Bull sculpture in Shanghai on April 9, 2025. Photo: AFP
IPO

Chinese rocket firm LandSpace moves towards US$1 billion IPO

Listing is the first accepted under a fast-track process for pre-revenue rocket companies, as China prioritises space development.

A full-size model of LandSpace’s Zhuque-1 rocket, is displayed at its factory in Huzhou, Zhejiang province, on December 17, 2025. Photo: Reuters
Hong Kong economy

Editorial | Hong Kong’s IPO market rings in 2026 on a high note

The city catapulted itself into the global top spot for initial public offerings in 2025, with another strong pipeline of listings expected this year.

China property

China housing market gets VAT relief on resales but demand outlook stays subdued

Policy lowering VAT to 3 per cent reduces seller costs but demand recovery is key to stabilising the housing sector, property agents say.

Crime

‘Ocean’s Eleven’ gang steals millions in cash, gold and jewellery from German bank

Thieves use quiet Christmas period to drill their way into vault, smash open more than 3,000 safe deposit boxes and make off with the loot.

A giant hole in a wall of the vault of a Sparkasse bank branch after thieves broke in at the weekend. Photo: Police Gelsenkirchen handout via AFP
Hong Kong economy

All Hong Kong retail banks to offer anti-scam service, locking cash in accounts

‘Money Safe’ users will have to meet a bank employee to undergo verification process to ensure their funds are not going to scammers.

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Individual bank account holders can designate a certain amount of their cash that cannot be transferred in any way. Photo: Eugene Lee
HSBC

Hang Seng Bank to leave Hang Seng Index after 53 years if buyout passes

Brokers say the well-established benchmark is unlikely to be affected, as shareholders are poised to back HSBC’s privatisation plan.

Yuan

How China is upgrading its digital yuan for the stablecoin era

Beijing is upgrading its digital currency in response to the rise of stablecoins, but the goal is to create a fundamentally different system.

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IPO

China’s Zhipu AI launches US$560 million share sale amid heated IPO tech race

The company, marketed overseas as Z.ai, eyes US$6.6 billion valuation with Hong Kong’s first large language model listing.

Zhipu AI is moving closer to becoming the first large language model developer listed in Hong Kong. Photo: Shutterstock
IPO

Insilico Medicine leads 6 Hong Kong IPOs, capping banner fundraising year

Debutants raise total of US$899 million as exchange wraps up one of the most active months for IPOs since 2021.

US Federal Reserve

Trump says preferred Fed pick is ready, again teases firing Powell

US president urges Jerome Powell to resign as he considers a ‘gross incompetence’ lawsuit against the Fed leader.

Iran

Iran’s president urges dialogue as currency plunge sparks protests

Anger over Iran’s worsening economic situation pushes people onto the streets in Tehran and other cities.

Iranian shopkeepers and traders protest against economic conditions as tear gas is fired by anti-riot police in Tehran on Monday. Photo: EPA
China trade

China has logged a US$1 trillion trade surplus. Where is all that money going?

Trade surplus growth has not been matched in foreign exchange reserves – a gap analysts said can be explained by private sector outflows.

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China’s status as the world’s manufacturing leader has helped it record a record trade surplus in 2025. Photo: VCG via Getty Images
Hong Kong Monetary Authority (HKMA)

OCBC, Bangkok Bank, First Abu Dhabi join US$14 billion offshore yuan scheme

Leading banks from Southeast Asia and the Middle East are taking part in the programme, underscoring the city’s push as an offshore yuan hub.

Asia housing and property

The View | How AI helped Asia’s real estate sector pass the tariff stress test

While multiple factors are at play, this year’s tech exuberance helped the region’s property markets stay afloat.

Bonds

Hong Kong bond markets, yuan issuance to expand in 2026 under HKMA, SFC road map

HKMA and SFC blueprint to drive multicurrency issuance, with green finance and Bond Connect widening investor base.

The Hong Kong Monetary Authority logo at its IFC Two headquarters. Photo: Jonathan Wong
Investing

China launches venture capital fund to lead the charge on tech investment

The fund, which will put state-backed money behind early tech bets, could guide trillions of yuan in private capital to chosen sectors.

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China’s new national venture capital fund has made investments in emerging technology like quantum computing an explicit priority. Photo: Xinhua
Cryptocurrency

Opinion | To harness crypto ingenuity, financial threat must first be neutralised

Future of money must be shaped by competition between private ingenuity and public purpose, not by rent seeking and speculative bubbles.

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Fintech

Why Hong Kong is emerging as the world’s AI crossroads between East and West

Hong Kong’s AI sector comprises 500 organisations, 290 companies and 183 investors active in finance, healthcare and government services.

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