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A view of the Jinan Huanggang Road Yellow River Crossing Tunnel, which is under construction in Jinan city, Shandong province, on March 4, 2025. Photo: Xinhua
Banking & finance

China’s risky shadow banks back in spotlight after debt crackdown

Entities owned by local governments are borrowing billions from trust companies and leasing firms at rates of 8 per cent or higher, sources say.

Banking & finance

CSRC vows deeper reforms to open China’s capital market and boost tech listings

China stock market

Moore Threads shares dazzle with fivefold jump in Shanghai debut

Banking & finance

Emerging markets to outperform US stocks as dollar weakness continues: report

Latin America, which has been an underappreciated market for many years, is the stand-out performer in emerging markets.

A trader at work on the floor of the New York Stock Exchange, November 19, 2025. Photo: Reuters
A trader at work on the floor of the New York Stock Exchange, November 19, 2025. Photo: Reuters
Hong Kong property

HSBC to occupy over 40,000 sq ft at Hong Kong’s Capitol Centre in 2026

Current tenant Chanel’s three-year lease for the prime retail space in Causeway Bay expires on May 15 next year.

Wealth management

China’s rich step up offshore bets as gold and insurance gain favour

China’s wealthy are shifting more of their portfolios offshore, as they seek to hedge slowing growth, policy risks and low yields at home.

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Millionaires and billionaires

Mainland China’s billionaire count surges as BYD and Mixue bosses power gains

The combined wealth of mainland China’s billionaires soars 22 per cent to US$1.77 trillion; Hong Kong’s ultra-rich population rises.

Wang Chuanfu of BYD is among the tech sector’s biggest wealth gainers. Photo: Handout
Wang Chuanfu of BYD is among the tech sector’s biggest wealth gainers. Photo: Handout
Banking & finance

Hong Kong’s investment body posts US$300 million income in first year

Every dollar invested by the HKIC has attracted more than six in long-term market capital, Financial Secretary Paul Chan says.

Insurance

Hong Kong insurers identify 8,700 policies owned by Tai Po fire victims

Residents of Wang Fuk Court hold 7,600 active life and 1,100 property policies provided by some 30 insurers, Insurance Authority CEO says.

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Banking & finance

HSBC names veteran accountant Brendan Nelson new chairman amid Asia growth push

Appointment surprises market after HSBC CEO Georges Elhedery earlier said the 75-year-old was not keen on a permanent role.

Brendan Nelson has been serving as interim chairman since October 1. Photo: Handout
Banking & finance

China’s JD.com unit Jingdong Industrials aims for US$412 million Hong Kong IPO

Seven cornerstone investors led by London-based M&G Investments pledge a total of US$170 million.

JD.com will retain a 72 per cent stake after the listing. Photo: Reuters
JD.com will retain a 72 per cent stake after the listing. Photo: Reuters
Banking & finance

From chips to noodles: the newcomers testing Hong Kong’s buoyant IPO market

A wave of billion-dollar offerings is building behind four new listings this week, signalling sustained momentum in Hong Kong’s IPO market.

Insurance

Hong Kong insurers face profit pressure in aftermath of deadly Tai Po fire

Impact will be manageable, but insurers may have to rethink pricing strategies that have led them to cut premiums amid competition, S&P says.

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Banking & finance

Hong Kong taps Value Partners, 9 others to manage US$385 million residency fund

Government investment arm HKIC also names Primavera among managers of CIES IP, which focuses on Hong Kong’s long-term development.

The 10 asset managers appointed span venture capital, private equity, private credit and hedge funds. Photo: Sun Yeung
Banking & finance

Healthcare and tech to drive Asia-Pacific private equity deals amid slower growth

Asia-Pacific private equity managers are forecasting higher returns and fewer geopolitical risks than peers elsewhere, a new survey finds.

Healthcare is one of the sectors expected to drive private equity deals in 2026. Photo: Shutterstock
Healthcare is one of the sectors expected to drive private equity deals in 2026. Photo: Shutterstock
Hong Kong stock market

China’s 3SBio seeks US$400 million in Hong Kong to boost drug pipeline

Share placement to help Shenyang-based firm advance clinical research in China and the US, expand reach of cancer and hair-loss drugs.

Bonds

China’s currency push gains ground as Russia nears issuance of yuan bond

Foreign governments have raised a record 13 billion yuan (US$1.8 billion) via yuan bonds this year, Bloomberg-compiled data shows.

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IPO

Hong Kong crypto exchange HashKey wins listing nod in test of investor appetite

HashKey could raise around US$300 million this month amid Hong Kong’s push to develop its digital asset sector.

HashKey is one of 11 licensed virtual asset trading platforms in Hong Kong. Photo: Handout
HashKey is one of 11 licensed virtual asset trading platforms in Hong Kong. Photo: Handout
Fintech

Does tokenisation in China risk a repeat of the P2P lending crisis?

Tokenisation provides value, but the interest of multilevel marketers raises ‘genuine concerns’, forum speaker says.

Fintech

Hong Kong reaps the fruits of fintech seeds sown nearly 10 years ago

Hong Kong’s rise as a fintech hub is due to the concerted regulatory push, with the city competing with Singapore for regional leadership.

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Bonds

Hong Kong dollar bonds to continue surge after record US$42 billion year

City’s deep, liquid market and low inflation attract issuers amid a structural shift away from the US dollar, analysts say.

A view of Central and Victoria Harbour on November 26, 2024. Photo: AFP
Banking & finance

UBS remains bullish on Chinese tech but warns of big market swings in 2026

Swiss bank flags five major risks for next year, including economic weakness, resurgence of inflation and renewed US-China tensions.

Chinese tech stocks “are still not expensive”, according to UBS. Photo: Reuters
Chinese tech stocks “are still not expensive”, according to UBS. Photo: Reuters
Banking & finance

Hong Kong insurers liable for payouts of US$334 million related to Tai Po fire

The Hong Kong Bar Association is providing free legal services to victims and urges them to take immediate action to protect their rights.

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Banking & finance

Investors to swap cash for gold and grain on hopes for a global rebound: UBS

UBS expects investors to rotate out of cash and into commodities in 2026, favouring energy, grain and gold on the back of expected rate cuts.

Banking & finance

Hong Kong retail funds hit record pace, surpass 2024 full-year total

Gross sales reach US$82.6 billion in the first three quarters as investors pile into fixed-income funds: HKIFA.

There is renewed investor confidence in Hong Kong’s retail fund market, analysts say. Photo: Dickson Lee
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