• Thu
  • Dec 25, 2014
  • Updated: 6:24pm

Financial Centre

Hong Kong lawmakers need Shanghai trip to face up to social issues

Shanghai is definitely not what it used to be in the eyes of its people.

Most of the time, Shanghai just means business, but the city has also played some significant political roles in contemporary Chinese history. The Sino-US Shanghai Communiqué was signed there in 1972, marking a new chapter in ties for the two big nations.

Monday, 31 March, 2014, 8:13am 1 comment

Citic's mega takeover deal comes as win-win for Beijing and Hong Kong

Citic's mega takeover deal comes as win-win for Beijing and Hong Kong

Beijing's decision to let a Hong Kong-listed unit of Citic Group take over its parent company in a deal valued at about 225 billion yuan (HK$283.6 billion) surprised the financial community on Wednesday evening.

31 Mar 2014 - 5:52pm 2 comments

Why New Yorkers could pay for acceding to Alibaba's 'Open sesame'

While Hong Kong regulators stuck to their principles on "one share, one vote", New York is happy to oblige Alibaba. Photo: Reuters

To understand why New York capturing the title of world's greatest financial centre is no cause for celebration, look no further than the Alibaba IPO.

20 Mar 2014 - 1:28am

Chinese art buyers help Christie's to record sales year

Christie's staff take phone bids at its Shanghai auction in September last year. The firm now has a Chinese-language website. Photo: AFP

Chinese buyers drove up Christie's sales by 14 per cent to US$7.13 billion last year, a record high not just for the British auction house but for any company ever in the art market.

23 Jan 2014 - 4:30pm

Tianhe Chemicals IPO follows boss' daughter to UBS

JPMorgan saw the Tianhe Chemicals deal go to UBS, where one of the US bank's former employees had moved. Photo: AFP

Mary had a little lamb, Joyce Wei has an IPO. Wherever the daughter of Tianhe Chemicals chairman Wei Qi goes, follows the potential US$1 billion IPO deal.

First, it was JP Morgan Chase that was supposed to be working on the initial public offering of the Liaoning-based company. Joyce Wei was then working as an investment banking associate there.

22 Jan 2014 - 4:37pm 9 comments

Regulation delay puts foreign banks in a spot in Shanghai free-trade zone

More than 1,400 companies have registered to set up in Shanghai's free-trade zone but only 38 of them are from overseas. Photo: Reuters

Foreign banks lobbied to set up in the mainland's first free-trade zone in Shanghai are grappling with a dilemma - what can they really do in the ambitious zone?

15 Jan 2014 - 5:39am 1 comment

China Merchants Securities taps British market

Merchants Securities in Beijing.

China Merchants Securities, one of the mainland’s oldest and largest securities houses, has set up a subsidiary in Britain to expand into global capital and commodities markets, with a focus on derivatives – at a time when Western rivals are trying to scale back from a business that often comes with high profits and equally high risks.

12 Dec 2013 - 1:45am

No matter the trials of living in Hong Kong, dream big and do it

Hong Kong has been a business centre for Asia and the whole world for decades. Photo: Bloomberg

"It was the best of times, it was the worst of times …" That’s what Charles Dickens wrote about the French Revolution and some people say today’s Hong Kong is more or less in this kind of situation.

2 Dec 2013 - 8:04am 4 comments

Try downloading some fresh thinking is Google's tip for Hong Kong

Eric Schmidt

Google's chairman Eric Schmidt is a truly busy man. But still I managed to grab him for a 30-minute interview during his recent visit to Hong Kong - a city he says he is a big fan of, though one he feels now faces more challenges than opportunities.

11 Nov 2013 - 5:17am 1 comment

Google's Eric Schmidt to Hong Kong: You need more engineers to start companies like mine

Google chairman Eric Schmidt receives a warm welcome at Chinese University yesterday. He wants to encourage more young entrepreneurs. Photo: Felix Wong

Google Chairman Eric Schmidt has one suggestion for the Hong Kong government on how to make the city remain competitive – to open more technical universities, thereby attracting more software engineers, rather than more bankers.

5 Nov 2013 - 3:25pm 17 comments

Pay trends point to greener pastures across the border

Thee gap in average salary levels between the mainland and Hong Kong will come to an end - or even reverse. Photo: AFP

Every year at this time, many people will begin to think about the same thing - how big a pay rise can I expect for the coming year?

4 Nov 2013 - 3:08pm

Chong Hing sale sounds alarm bells for Hong Kong's small businesses

Chong Hing has been a witness of Hong Kong's ups and downs since it was founded in 1948.

The sale of Chong Hing Bank, one of the four remaining family-owned banks in Hong Kong, may be good news for its shareholders who can cash out at a high premium, but it is sad news to many Hongkongers when we try to find a way for the city's small businesses to prosper.

28 Oct 2013 - 7:53am 4 comments

Shanghai cooks up five-star goals, but the salt is missing

People often talk of how important "software" is for a truly international city after it has already established very good "hardware". They are just like two legs for a person: you can't walk well without either of the two.

14 Oct 2013 - 10:59am 6 comments

Hong Kong ideal to host infrastructure bank, says JP Morgan chief

President Xi Jinping. Photo: AFP

The Hong Kong government should grab the opportunity to make the city the home for the new Asian infrastructure investment bank proposed by President Xi Jinping during his trip to Southeast Asia last week, says a top banker and influential political adviser to Beijing.

11 Oct 2013 - 4:40pm 5 comments

Will the dealmakers go to Shanghai's financial centre?

Photo: AFP

How can Shanghai get ready to be a financial centre by 2020? We've talked about world-class infrastructure, freedom of capital flows, and of course the rule of law. But are we missing a basic requirement - people?

7 Oct 2013 - 7:12am

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