https://www.scmp.com/rss/325770/feed Latest news and features on wealth management, with a particular focus on Hong Kong, mainland China and Asia. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Enoch Yiu Enoch Yiu Mark Mobius, who was known as the father of emerging markets and was among the first fund managers to invest in Hong Kong and mainland China, died on Wednesday at the age of 89, according to a statement on his LinkedIn account. The statement did not give the cause. Mobius was based in Dubai in recent years and remained active in investment via his own firm. He was managing director of Mobius Emerging Opportunities Fund. Mobius remained bullish on China throughout his career. In his last... https://www.scmp.com/business/markets/article/3350250/mark-mobius-pioneering-emerging-market-investor-and-china-bull-dies-89?utm_source=rss_feed https://www.scmp.com/business/markets/article/3350250/mark-mobius-pioneering-emerging-market-investor-and-china-bull-dies-89?utm_source=rss_feed Thu, 16 Apr 2026 04:30:22 +0000 Enoch Yiu Enoch Yiu HSBC Holdings, the biggest lender in Hong Kong and Europe by assets, is committed to the Middle East and plans to plough ahead with investments despite uncertainty in the region, according to a senior executive. Surendra Rosha, co-CEO for Asia and the Middle East, said HSBC would continue to invest in the wealth business in the United Arab Emirates (UAE) in the coming years. Rosha is heading to Saudi Arabia, where HSBC is the biggest overseas investment bank, next week to meet clients and staff... https://www.scmp.com/business/banking-finance/article/3349866/hsbc-will-continue-invest-middle-east-long-term-even-war-rages?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3349866/hsbc-will-continue-invest-middle-east-long-term-even-war-rages?utm_source=rss_feed Mon, 13 Apr 2026 09:00:09 +0000 Enoch Yiu Enoch Yiu Hong Kong’s Mandatory Provident Fund (MPF) recorded its first decline in assets in nearly a year in March, snapping a 10-month run of growth as investment losses weighed on the compulsory retirement scheme covering 4.8 million members. Total MPF assets fell to HK$1.532 trillion (US$196 billion) at the end of March, down HK$99.2 billion, or 6 per cent, from a record HK$1.63 trillion a month earlier, according to MPF Ratings, an independent consultancy tracking the system’s performance. Assets... https://www.scmp.com/business/article/3349420/mpfs-10-month-rally-runs-out-steam-assets-drop-6-cent-march?utm_source=rss_feed https://www.scmp.com/business/article/3349420/mpfs-10-month-rally-runs-out-steam-assets-drop-6-cent-march?utm_source=rss_feed Wed, 08 Apr 2026 23:30:07 +0000 Enoch Yiu Enoch Yiu Hong Kong’s Mandatory Provident Fund (MPF) is poised to report a loss of over HK$100 billion (US$12.8 billion) for March this week, its worst monthly loss in dollar terms since its inception 25 years ago. The sharp fall in global stock markets last month hit the MPF hard, while the uncertainties ahead stemming from the Middle East conflict have led the pension regulator and analysts to urge the 4.8 million members to adopt a diversified approach. The 378 MPF investment funds suffered a HK$103.3... https://www.scmp.com/business/markets/article/3348982/hong-kongs-mpf-set-report-worst-performance-3-years-march?utm_source=rss_feed https://www.scmp.com/business/markets/article/3348982/hong-kongs-mpf-set-report-worst-performance-3-years-march?utm_source=rss_feed Mon, 06 Apr 2026 05:00:08 +0000 Themis Qi Themis Qi China’s art market is showing tentative signs of recovery despite economic pressures, according to UBS, which cited rising participation from the next generation of wealthy families. “We have been seeing a rebound, with more trips for auctions and purchases [in China],” said Amy Lo Choi-wan, chairman of UBS Global Wealth Management Asia and CEO of UBS Hong Kong, in an exclusive interview with the South China Morning Post. “So I am optimistic.” Despite a prolonged property downturn and weak... https://www.scmp.com/business/money/markets-investing/article/3348293/sketching-recovery-chinas-art-market-puts-next-gen-buyers-frame-amid-slowdown?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/3348293/sketching-recovery-chinas-art-market-puts-next-gen-buyers-frame-amid-slowdown?utm_source=rss_feed Mon, 30 Mar 2026 00:30:17 +0000 Peggy Ye Peggy Ye Hong Kong is a stable base for global wealth as rising geopolitical tensions and economic uncertainties prompt wealthy families to rethink where they base their assets, according to Financial Secretary Paul Chan Mo-po. “We are living in a world marked by uncertainty and conflicts,” Chan said at the gala dinner of the Wealth for Good in Hong Kong Summit on Tuesday evening. “The rules-based international order is under strain. Some even say it has been ruptured.” Facing such a situation, investors... https://www.scmp.com/business/banking-finance/article/3347752/hong-kong-safe-harbour-family-wealth-global-tensions-rise-officials-say?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347752/hong-kong-safe-harbour-family-wealth-global-tensions-rise-officials-say?utm_source=rss_feed Tue, 24 Mar 2026 13:52:05 +0000 Themis Qi Themis Qi About 130 family office decision-makers and affluent second-generation members from across the world attended a dinner held by the Hong Kong government on Monday evening, including billionaire Pop Mart founder, chairman and CEO Wang Ning. The dinner set the stage for the fourth edition of the Wealth for Good in Hong Kong (WGHK) Summit, themed “Building Lasting Legacies”, which will take place on Tuesday, as the city promotes its capabilities as an international wealth management hub amid global... https://www.scmp.com/business/banking-finance/article/3347628/hong-kongs-family-office-summit-draws-pop-mart-billionaire-among-global-guest-list?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347628/hong-kongs-family-office-summit-draws-pop-mart-billionaire-among-global-guest-list?utm_source=rss_feed Mon, 23 Mar 2026 14:13:17 +0000 Enoch Yiu Enoch Yiu Middle East banks and wealthy investors are poised to increase their investments in Hong Kong amid geopolitical tensions to diversify their risk and capture growing opportunities in Asia, according to the head of InvestHK, the government agency tasked with attracting foreign investment. A couple of Middle East banks were in the process of setting up offices in Hong Kong with the help of InvestHK, said Alpha Lau Hai-suen, its director general. These additions would strengthen the city’s ties with... https://www.scmp.com/business/banking-finance/article/3347050/middle-east-banks-eye-hong-kong-safe-haven-amid-iran-threats-investhk-head-says?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347050/middle-east-banks-eye-hong-kong-safe-haven-amid-iran-threats-investhk-head-says?utm_source=rss_feed Thu, 19 Mar 2026 01:30:18 +0000 Julie Zhang Julie Zhang The wealth management businesses of Chinese investment banks in Hong Kong are growing faster than those of international rivals, as a buoyant initial public offering (IPO) market and rising cross-border flows strengthen their competitive edge. “Chinese investment banks are seeing accelerated growth … because [their] base is smaller and the current market environment favours them,” said Wang Lei, CEO of Huatai Financial Holdings (Hong Kong), in an interview with the South China Morning Post,... https://www.scmp.com/business/china-business/article/3346865/chinese-banks-outpace-rivals-hong-kong-wealth-growth-ipo-boom-capital-flows?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3346865/chinese-banks-outpace-rivals-hong-kong-wealth-growth-ipo-boom-capital-flows?utm_source=rss_feed Tue, 17 Mar 2026 23:30:09 +0000 Cao Li Cao Li As innovations arise from the artificial intelligence, robotics and biotechnology sectors, holders of family capital from around the world will convene in Hong Kong to discuss such investment opportunities at the city’s fourth annual Wealth for Good Summit on March 23 and 24. Secretary for Financial Services and the Treasury Christopher Hui Ching-yu said the summit would showcase Hong Kong’s position as a premier hub for family capital seeking long-term growth and multigenerational... https://www.scmp.com/business/article/3346393/hong-kongs-wealth-good-summit-highlight-ai-robotics-biotech-opportunities?utm_source=rss_feed https://www.scmp.com/business/article/3346393/hong-kongs-wealth-good-summit-highlight-ai-robotics-biotech-opportunities?utm_source=rss_feed Thu, 12 Mar 2026 11:33:36 +0000 Themis Qi Themis Qi Deutsche Bank is seeking to capitalise on wealthy investors across mainland China, Hong Kong, Taiwan and the Philippines who are looking to diversify away from US assets, as it pushes ahead with ambitious expansion plans in the region. Affluent investors from mainland China, Hong Kong, Taiwan and the Philippines – markets Deutsche Bank groups as “North Asia” – were becoming increasingly uneasy about their heavy exposure to US assets and were looking more closely at opportunities in Europe,... https://www.scmp.com/business/banking-finance/article/3346035/deutsche-bank-bets-hong-kong-wealth-boom-asian-billionaires-look-beyond-us-assets?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3346035/deutsche-bank-bets-hong-kong-wealth-boom-asian-billionaires-look-beyond-us-assets?utm_source=rss_feed Tue, 10 Mar 2026 23:30:08 +0000 Julie Zhang Julie Zhang Hong Kong family offices are showing rising demand for risk-management products, services and advisory support amid growing geopolitical and market uncertainty, according to an affiliate of the Hong Kong Monetary Authority (HKMA). “We see a general trend that demand for risk-management products and services has been rising, and family offices are strengthening these functions year after year,” said Enoch Fung, CEO of the Hong Kong Academy of Finance and executive director of the Hong Kong... https://www.scmp.com/business/banking-finance/article/3346124/hong-kong-family-offices-take-long-view-despite-iran-tensions-hkma-affiliate-says?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3346124/hong-kong-family-offices-take-long-view-despite-iran-tensions-hkma-affiliate-says?utm_source=rss_feed Tue, 10 Mar 2026 11:45:08 +0000 Enoch Yiu Enoch Yiu Escalating geopolitical tensions and the rapid growth of Chinese technology companies are prompting international investors to shift more assets to Hong Kong, according to the head of HSBC’s local unit. The trend is benefiting the bank’s wealth management business. HSBC had added nearly 2 million new individual customers in the city over the past two years, bringing its total customer base in Hong Kong to about 7 million, said Maggie Ng, CEO of HSBC Hong Kong, in her first media interview since... https://www.scmp.com/business/banking-finance/article/3345812/hsbc-hong-kong-ceo-sees-global-tensions-china-tech-growth-drawing-wealth-city?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3345812/hsbc-hong-kong-ceo-sees-global-tensions-china-tech-growth-drawing-wealth-city?utm_source=rss_feed Sun, 08 Mar 2026 23:30:15 +0000 Peggy Ye Peggy Ye From Sydney to Hong Kong, wealth migration is reshaping the global super-luxury property market as activity picks up after two subdued years – though the dominance of relative newcomer Dubai is now being tested by the war in the Middle East. In Sydney, Peter Li, general manager at Plus Agency, said commission revenues on super-luxury homes had risen about 20 per cent from a year earlier. The firm, which handles more than US$300 million in annual sales, has hired six new staff members since... https://www.scmp.com/business/article/3345695/worlds-wealthy-relocate-rewriting-property-map-will-hong-kong-win-out?utm_source=rss_feed https://www.scmp.com/business/article/3345695/worlds-wealthy-relocate-rewriting-property-map-will-hong-kong-win-out?utm_source=rss_feed Sat, 07 Mar 2026 03:00:16 +0000 Enoch Yiu Enoch Yiu Fewer Hongkongers withdrew funds from the city’s mandatory pension plan in the fourth quarter of last year, as a stock market rally prompted more members to leave their investments in place even when they stopped working or left the city, according to analysts. The number of people taking their money out of the Mandatory Provident Fund (MPF) because they were leaving Hong Kong permanently fell 39 per cent in the final three months of 2025 from the previous quarter, to 4,200 cases, according to... https://www.scmp.com/business/banking-finance/article/3345458/more-hongkongers-leave-money-mpf-pension-plan-capitalise-market-rally?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3345458/more-hongkongers-leave-money-mpf-pension-plan-capitalise-market-rally?utm_source=rss_feed Wed, 04 Mar 2026 12:30:08 +0000 Enoch Yiu Enoch Yiu Hong Kong will expand its tax exemptions for operators of family offices and funds set up by international organisations, such as the Asian Infrastructure Investment Bank (AIIB), in line with efforts to promote the city as a wealth management hub, a minister told lawmakers on Monday. In a financial affairs panel meeting, Secretary for Financial Services and the Treasury, Christopher Hui Ching-yu, said the government would submit a bill to the Legislative Council within the first half of this... https://www.scmp.com/business/companies/article/3345119/hong-kong-expand-tax-exemptions-family-offices-aiib-and-pension-fund-investment?utm_source=rss_feed https://www.scmp.com/business/companies/article/3345119/hong-kong-expand-tax-exemptions-family-offices-aiib-and-pension-fund-investment?utm_source=rss_feed Mon, 02 Mar 2026 08:21:20 +0000 Peggy Ye Peggy Ye Hong Kong’s cash-for-residency scheme has attracted about HK$95 billion (US$12 billion) from more than 1,700 investors over the past two years, with around two-thirds of the approved capital channelled into authorised funds and equities, the latest figures from InvestHK show. The government’s investment promotion arm on Monday released the figures for the New Capital Investment Entrant Scheme (New CIES), designed to encourage high-net-worth individuals to invest in Hong Kong, bringing both... https://www.scmp.com/business/banking-finance/article/3345102/hong-kongs-new-cash-residency-scheme-draws-us12-billion-first-2-years?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3345102/hong-kongs-new-cash-residency-scheme-draws-us12-billion-first-2-years?utm_source=rss_feed Mon, 02 Mar 2026 06:44:45 +0000 Enoch Yiu Enoch Yiu HSBC Holdings unveiled a range of new growth targets and strategies on Wednesday, including plans to boost investment in Hong Kong and other high-growth markets to US$1.8 billion in the coming years. CEO Georges Elhedery said the bank would raise its return target to 17 per cent or higher from 2026 to 2028, while maintaining a sustainable dividend policy. The forward-looking commitments helped lift HSBC’s share price despite a 7 per cent decline in annual profit. Among the expansion plans, the... https://www.scmp.com/business/banking-finance/article/3344541/hsbcs-2025-profit-falls-7-beats-estimates-despite-property-woes-madoff-lawsuits?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3344541/hsbcs-2025-profit-falls-7-beats-estimates-despite-property-woes-madoff-lawsuits?utm_source=rss_feed Wed, 25 Feb 2026 04:32:46 +0000 Enoch Yiu Enoch Yiu Standard Chartered Bank, one of Hong Kong’s three note-issuing banks, reported a 16 per cent profit jump for 2025, as strong wealth management growth helped it weather rising bad debt from the city’s commercial real estate slump. The London-based bank, which generates much of its revenue from Asia, reported an underlying pre-tax profit of US$7.9 billion last year, compared with US$6.8 billion in 2024, according to a stock exchange filing on Tuesday. This matched analysts’ estimate of US$7.9... https://www.scmp.com/business/banking-finance/article/3344411/standard-chartereds-2025-profit-jumps-16-buoyed-robust-wealth-management-growth?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3344411/standard-chartereds-2025-profit-jumps-16-buoyed-robust-wealth-management-growth?utm_source=rss_feed Tue, 24 Feb 2026 04:47:55 +0000 Enoch Yiu Enoch Yiu Gold, mahjong sets, fancy lai see packets and dinners with fireworks views are among the incentives Hong Kong banks are using to lure wealthy customers from the city and the mainland during the Lunar New Year, which kicks off on Tuesday. Hong Kong authorities estimated that as many as 1.43 million mainland visitors would cross the border during the holiday period, up 6 per cent from a year earlier. The Year of the Horse begins on Tuesday, but the mainland holiday started on Sunday and ends on... https://www.scmp.com/business/banking-finance/article/3343663/hong-kong-banks-lure-wealthy-clients-gold-mahjong-sets-fireworks-during-holiday?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3343663/hong-kong-banks-lure-wealthy-clients-gold-mahjong-sets-fireworks-during-holiday?utm_source=rss_feed Mon, 16 Feb 2026 05:00:09 +0000 Cheryl Arcibal Cheryl Arcibal Tycoon Li Ka-shing has added more than US$6 billion to his net worth, boosting his standing as Hong Kong’s richest individual and contributing to a US$65 billion increase in the assets of the city’s 50 richest people, according to Forbes. Li, whose business interests span real estate, infrastructure and pharmaceuticals via companies such as CK Asset Holdings and CK Hutchison, had a net worth of US$45.1 billion this year, up from US$38.9 billion in 2025, according to a list compiled by the... https://www.scmp.com/business/companies/article/3343353/superman-li-ka-shing-tops-hong-kongs-billionaire-list-us451-billion-forbes?utm_source=rss_feed https://www.scmp.com/business/companies/article/3343353/superman-li-ka-shing-tops-hong-kongs-billionaire-list-us451-billion-forbes?utm_source=rss_feed Thu, 12 Feb 2026 11:52:11 +0000 Themis Qi Themis Qi Hong Kong housed nearly 3,400 single-family offices by the end of last year, a 25 per cent rise in two years – contributing HK$12.6 billion (US$1.6 billion) annually to the economy – as the affluent refocused on the city amid US trade tensions and the rise of China’s tech sector, according to a report by Deloitte on Tuesday. The global auditing firm made the estimates after surveying 136 market participants across Hong Kong’s family office sector, including 85 single-family offices, whose wealth... https://www.scmp.com/business/banking-finance/article/3343031/hong-kong-family-offices-jump-25-wealthy-shift-focus-us-deloitte?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3343031/hong-kong-family-offices-jump-25-wealthy-shift-focus-us-deloitte?utm_source=rss_feed Tue, 10 Feb 2026 07:20:05 +0000 Ji Siqi,Eunice Xu Ji Siqi,Eunice Xu With China explicitly banning onshore tokenisation of real-world assets (RWAs) while tightening scrutiny of related offshore activities, analysts say the clampdown is aimed at curbing financial fraud and disorderly capital outflows, while still preserving space for regulated innovation in markets such as Hong Kong. Tokenisation refers to the process of converting the rights to an RWA – including real estate, art, bonds and commodities like gold – into a digital token. Such tokens represent... https://www.scmp.com/economy/china-economy/article/3342952/chinas-necessary-asset-tokenisation-ban-targets-scams-and-capital-flight-analysts-say?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3342952/chinas-necessary-asset-tokenisation-ban-targets-scams-and-capital-flight-analysts-say?utm_source=rss_feed Mon, 09 Feb 2026 12:30:19 +0000 Enoch Yiu Enoch Yiu Hong Kong and Singapore are set to be the biggest winners in attracting new capital inflows as global investors diversify their asset allocations amid geopolitical risks and trade tensions, according to the top executive at DBS Group. The two Asian financial centres would be the best choice for international investors who previously held overweight positions in US markets but now sought to diversify their portfolios, Tan Su Shan, CEO of the largest lender in Southeast Asia, said in an interview... https://www.scmp.com/business/banking-finance/article/3342823/hong-kong-singapore-be-biggest-winners-global-capital-flows-shift-asia-dbs-ceo?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3342823/hong-kong-singapore-be-biggest-winners-global-capital-flows-shift-asia-dbs-ceo?utm_source=rss_feed Sun, 08 Feb 2026 23:00:15 +0000 Peggy Ye Peggy Ye When Alex Barnes and his team finally closed the two largest single-tenant office leasing deals Central has seen in more than a decade, the outcome was decisive – but the path there was anything but quick. Barnes, the co-CEO in Greater China and managing director in Hong Kong, Taiwan and Macau at JLL, advised quantitative trading firm Jane Street Asia on a record-setting lease at Central Yards, followed months later by a six-floor commitment from hedge fund Qube Research & Technologies at Two... https://www.scmp.com/business/article/3342806/how-two-landmark-central-deals-boost-sentiment-hong-kongs-office-market?utm_source=rss_feed https://www.scmp.com/business/article/3342806/how-two-landmark-central-deals-boost-sentiment-hong-kongs-office-market?utm_source=rss_feed Sun, 08 Feb 2026 06:00:16 +0000 Kandy Wong,Sylvia Ma Kandy Wong,Sylvia Ma The sudden death of a top fund manager in Shanghai – the latest in a string of similar cases – has raised alarm in China’s financial sector, as worries grow over the health risks posed by the industry’s intense work culture. Shen Xianbing, a founding partner of the private fund Qilin Investment, died on Monday at the age of 40, the company announced the same day, without explaining the cause of his death. The former University of Science and Technology of China graduate had served as a founding... https://www.scmp.com/business/banking-finance/article/3342225/chinas-finance-sector-rocked-another-sudden-death-amid-overwork-fears?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3342225/chinas-finance-sector-rocked-another-sudden-death-amid-overwork-fears?utm_source=rss_feed Tue, 03 Feb 2026 08:32:08 +0000 Enoch Yiu Enoch Yiu The UK and China are considering a new cross-border asset-management link and upgrades to their existing stock connect scheme, as both sides seek closer capital-market cooperation, according to Ashley Alder, chairman of the UK’s Financial Conduct Authority (FCA). “We are looking at enhancing market connectivity between China and the UK, particularly by building on the stock connect with Shanghai and Shenzhen,” Alder said. “In addition, we are exploring other areas of cooperation, such as asset... https://www.scmp.com/business/banking-finance/article/3341772/uk-and-china-weigh-cross-border-asset-management-scheme-deepen-market-ties?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3341772/uk-and-china-weigh-cross-border-asset-management-scheme-deepen-market-ties?utm_source=rss_feed Fri, 30 Jan 2026 04:30:10 +0000 Sylvia Ma Sylvia Ma Gold’s blistering rally to start 2026 – surging past US$5,500 an ounce – has already eclipsed many full-year price targets, forcing analysts to upgrade their outlooks. And for some, the US$6,000 threshold is now in view. The buying spree has prompted some Chinese funds to suspend new purchases, with one warning investors of “the risk of trading at a premium in the secondary market”. As of midday Thursday, spot gold stood at about US$5,540 per ounce, easing from an earlier high of US$5,598... https://www.scmp.com/economy/global-economy/article/3341653/runaway-gold-why-even-wall-street-cant-keep-metals-record-ascent?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3341653/runaway-gold-why-even-wall-street-cant-keep-metals-record-ascent?utm_source=rss_feed Thu, 29 Jan 2026 06:48:57 +0000 Aileen Chuang Aileen Chuang The Hong Kong Investment Corporation (HKIC) is eyeing investments in fintech, aerospace and artificial intelligence, tapping the city’s strengths and a wave of incoming talent and enterprises as geopolitical shifts create new opportunities, according to its CEO. The city’s wholly owned investment vehicle, which manages HK$62 billion (US$8 billion) in funds, would look at these new sectors in addition to its other focus areas, “playing to Hong Kong’s advantages in the context of the global... https://www.scmp.com/business/banking-finance/article/3341515/hong-kongs-us8-billion-wealth-fund-eyes-fintech-aerospace-and-ai-growth?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3341515/hong-kongs-us8-billion-wealth-fund-eyes-fintech-aerospace-and-ai-growth?utm_source=rss_feed Wed, 28 Jan 2026 06:48:09 +0000 Themis Qi Themis Qi Federated Hermes, a New York-listed asset-management firm, plans to set up a Hong Kong office to seize opportunities in Asia’s markets amid ongoing global geopolitical tensions. The company confirmed the move a year after CEO Chris Donahue said at the Asian Financial Forum (AFF) that the Pittsburgh-headquartered firm was considering a presence in the city. The plan had now won board approval and would be announced during this year’s AFF, which kicks off on Monday, the company said. The plan... https://www.scmp.com/business/banking-finance/article/3341159/us-asset-manager-federated-hermes-joins-wave-finance-firms-setting-hong-kong?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3341159/us-asset-manager-federated-hermes-joins-wave-finance-firms-setting-hong-kong?utm_source=rss_feed Mon, 26 Jan 2026 00:30:11 +0000 Enoch Yiu Enoch Yiu Life insurance sales in Hong Kong rose 56 per cent in the first nine months of last year to another record as affluent customers continued to buy policies in the city for wealth transfer, protection and medical needs. The industry wrote HK$264.5 billion (US$34 billion) worth of new policies from January to September, compared with HK$169.6 billion a year earlier, according to data from the Insurance Authority on Friday. It was the highest figure for the corresponding period since the authority... https://www.scmp.com/business/banking-finance/article/3340977/wealthy-investors-policy-purchases-propel-hong-kong-life-insurance-sales-another-peak?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3340977/wealthy-investors-policy-purchases-propel-hong-kong-life-insurance-sales-another-peak?utm_source=rss_feed Fri, 23 Jan 2026 09:30:09 +0000 James David Spellman James David Spellman The largest wealth transfer in history will accelerate the tilt of economic influence to the East as investment priorities change and women – who are set to inherit a growing share of assets – gain financial clout. The implications will ripple across geopolitics, financial markets and fiscal policies. Financial research firm Cerulli predicts that globally, an estimated US$124 trillion is expected to change hands by 2048. The 2023 Hurun Wealth Report estimated that heirs in China will receive... https://www.scmp.com/opinion/china-opinion/article/3340166/how-generational-wealth-transfer-will-reshape-chinas-economy?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3340166/how-generational-wealth-transfer-will-reshape-chinas-economy?utm_source=rss_feed Tue, 20 Jan 2026 08:30:08 +0000 Enoch Yiu Enoch Yiu HSBC Holdings’ exploration of options for its insurance business in Singapore may lead to a sale of the unit as the group reallocates resources to its insurance business in Hong Kong and mainland China, according to analysts. “It makes sense for HSBC to consider an exit from Singapore’s insurance market to focus on Hong Kong and mainland China, as so many mainlanders are coming to Hong Kong to buy insurance products here,” said Kenny Tang Sing-hing, chairman of the Hong Kong Institute of... https://www.scmp.com/business/banking-finance/article/3340173/hsbc-reviews-singapore-insurance-unit-amid-focus-high-growth-hong-kong-china?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3340173/hsbc-reviews-singapore-insurance-unit-amid-focus-high-growth-hong-kong-china?utm_source=rss_feed Fri, 16 Jan 2026 09:52:10 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s banking and finance sector is tipped to lead retail property leasing activity, with massive uptake by firms like Forthright Securities, Futu Holdings and HSBC providing support to landlords struggling through a multi-year real estate slump. Forthright Securities leased three storeys totalling 14,000 sq ft at Golden Centre in Sheung Wan for its first flagship branch in the city, according to CBRE, which facilitated the transaction. “This transaction not only demonstrates Forthright... https://www.scmp.com/business/article/3339955/banks-and-brokerages-growing-demand-space-buoys-hong-kongs-retail-property-sector?utm_source=rss_feed https://www.scmp.com/business/article/3339955/banks-and-brokerages-growing-demand-space-buoys-hong-kongs-retail-property-sector?utm_source=rss_feed Thu, 15 Jan 2026 23:00:09 +0000 Enoch Yiu,Aileen Chuang Enoch Yiu,Aileen Chuang Following the January 8 shareholder vote that overwhelmingly approved the largest privatisation deal in Hong Kong’s history, many questions remain about the future of Hang Seng Bank, its stakeholders and the broader financial landscape. For Hang Seng Bank’s shareholders, the immediate question is what to do with the HK$106.16 billion (US$13.6 billion) windfall from HSBC Holdings for acquiring the remaining 37 per cent it does not own. “I invested in Hang Seng Bank for the long term because of... https://www.scmp.com/business/banking-finance/article/3339319/what-does-hsbcs-buyout-hang-seng-bank-mean-its-future-and-investors?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3339319/what-does-hsbcs-buyout-hang-seng-bank-mean-its-future-and-investors?utm_source=rss_feed Sat, 10 Jan 2026 02:00:10 +0000 Enoch Yiu Enoch Yiu Strong investment gains and contributions brought total Mandatory Provident Fund (MPF) assets to an all-time high of HK$1.55 trillion (US$199 billion) at the end of 2025, a growth of HK$260 billion from a year earlier, according to the data released on Tuesday by the city’s pension regulator. That meant each of the 4.79 million MPF members had an average of HK$323,590 in their account last year, about HK$54,749 more than in 2024, based on the Post’s calculations using data from the Mandatory... https://www.scmp.com/business/article/3338941/mpf-assets-grow-record-us199-billion-back-hong-kong-stock-market-rally?utm_source=rss_feed https://www.scmp.com/business/article/3338941/mpf-assets-grow-record-us199-billion-back-hong-kong-stock-market-rally?utm_source=rss_feed Tue, 06 Jan 2026 10:31:40 +0000 He Huifeng He Huifeng Since 2020, Li Jiang, a veteran manufacturing entrepreneur from Guangdong, has been selling off his properties one by one – a move that once puzzled many of his friends. For decades, real estate had been the ultimate “anchor” for retirement planning and wealth transfer among China’s high-net-worth families. At his peak, Li concentrated much of his wealth in property, owning seven assets ranging from CBD apartments to high-end suburban villas. These were intended partly for retirement and partly... https://www.scmp.com/economy/china-economy/article/3337974/chinas-wealthy-swap-real-estate-insurance-gold-retirement-looms?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3337974/chinas-wealthy-swap-real-estate-insurance-gold-retirement-looms?utm_source=rss_feed Sun, 04 Jan 2026 03:00:11 +0000 Enoch Yiu Enoch Yiu Hong Kong’s affluent amass at least HK$10 million (US$1.28 million) in liquid assets by the age of 39, with the majority relying on investments to grow their wealth, according to a survey by HSBC. These wealthy individuals take, on average, eight years to increase their wealth to HK$10 million after they earn their first HK$1 million, the HSBC Affluent Survey released on Friday showed. A similar survey in 2023 showed the average age for Hongkongers to become a millionaire, with HK$1 million in... https://www.scmp.com/business/money/article/3338404/hong-kongs-affluent-investors-are-multimillionaires-age-39-hsbc-survey?utm_source=rss_feed https://www.scmp.com/business/money/article/3338404/hong-kongs-affluent-investors-are-multimillionaires-age-39-hsbc-survey?utm_source=rss_feed Fri, 02 Jan 2026 00:00:13 +0000 Ralph Jennings Ralph Jennings China’s ultra-wealthy are quietly parking their private jets offshore to sidestep tougher compliance rules at home, while corporate executives are downgrading to commercial flights, analysts say, as economic headwinds hit the country’s business aircraft fleet. Aircraft owned by affluent Chinese nationals are said to be increasingly resurfacing in hubs such as Singapore and Japan, while more billionaires and corporate executives are turning to first-class commercial cabins or timeshare jet... https://www.scmp.com/economy/china-economy/article/3337814/why-are-rich-chinese-quietly-moving-private-jets-offshore-slumming-it-budget-seats?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3337814/why-are-rich-chinese-quietly-moving-private-jets-offshore-slumming-it-budget-seats?utm_source=rss_feed Sun, 28 Dec 2025 07:00:08 +0000 Daniel Ren Daniel Ren Police in eastern China’s Zhejiang province have detained Yu Faxiang, the chairman of Hong Kong-listed Haichang Ocean Park Holdings, as authorities investigate alleged mismanagement following defaults on multibillion-yuan wealth products issued by a firm under his control. It is the latest crackdown on mainland China’s shadow banking system, continuing years of government efforts to clean up the sector. Police have imposed “criminal compulsory measures” against Yu and were conducting a probe... https://www.scmp.com/business/banking-finance/article/3337441/hong-kong-listed-haichang-ocean-parks-boss-detained-china-amid-shadow-banking-probe?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3337441/hong-kong-listed-haichang-ocean-parks-boss-detained-china-amid-shadow-banking-probe?utm_source=rss_feed Tue, 23 Dec 2025 05:40:36 +0000 Enoch Yiu Enoch Yiu One of Hong Kong’s oldest lenders is stepping up its push into digital finance, teaming up with newly listed digital asset exchange HashKey Exchange to launch a co-branded credit card in the first half of next year. Shanghai Commercial Bank (SCB), which marked its 75th anniversary this year, will partner with HashKey Exchange to issue a Visa credit card exclusively for investors trading on the digital asset platform, according to chief executive Wallace Lam Wing-ted. HashKey, one of 11 licensed... https://www.scmp.com/business/banking-finance/article/3337332/old-lender-new-twist-shanghai-commercial-bank-teams-hashkey-credit-card?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3337332/old-lender-new-twist-shanghai-commercial-bank-teams-hashkey-credit-card?utm_source=rss_feed Tue, 23 Dec 2025 00:30:08 +0000 Enoch Yiu Enoch Yiu The electronic platform of the Mandatory Provident Fund (eMPF) is expected to reach its fee cut target five years ahead of schedule and could save the scheme’s 4.75 million members HK$50 billion (US$6.4 billion) in less than 10 years, according to the chairwoman of the pension regulator. The Mandatory Provident Fund Schemes Authority (MPFA) revised its estimates of cost savings from the eMPF platform on Monday during a media briefing hosted by Ayesha Macpherson Lau, who provided an update on the... https://www.scmp.com/business/banking-finance/article/3336392/hong-kongs-empf-hit-fee-cut-target-5-years-early-saving-us64-billion?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3336392/hong-kongs-empf-hit-fee-cut-target-5-years-early-saving-us64-billion?utm_source=rss_feed Mon, 15 Dec 2025 08:00:09 +0000 Anthony Rowley Anthony Rowley People love to hate governments, and they loathe having to pay taxes. However, from now on, we’ll have to embrace more state intervention and the need for higher taxes or else legislate a more dirigiste system of directing personal savings into investment that isn’t so dependent on markets. This can be either done preemptively or in response to the next financial crisis. It goes without saying that the former course of action is surely preferable to the trauma that will be experienced in the... https://www.scmp.com/opinion/world-opinion/article/3336062/climate-change-health-global-problems-need-investors-step?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3336062/climate-change-health-global-problems-need-investors-step?utm_source=rss_feed Sat, 13 Dec 2025 08:30:08 +0000 Enoch Yiu Enoch Yiu The Mandatory Provident Fund (MPF) turns 25 years old this month, with most of its pension funds delivering solid returns that have enabled all but the most conservative members to outpace both inflation and bank deposits, according to data from the pension regulator. The year-to-date net investment return of the MPF stood at 15 per cent, putting the retirement scheme on track for its best year since 2017, when it reported an annual return of 22.3 per cent, according to data from the Mandatory... https://www.scmp.com/business/markets/article/3335674/hong-kongs-mpf-marks-25-years-strong-returns-growing-public-confidence?utm_source=rss_feed https://www.scmp.com/business/markets/article/3335674/hong-kongs-mpf-marks-25-years-strong-returns-growing-public-confidence?utm_source=rss_feed Tue, 09 Dec 2025 02:00:09 +0000 Daniel Ren Daniel Ren China’s securities regulator has called on the country’s 160 mutual fund houses to establish a performance-based salary mechanism, as part of efforts to uproot elitism from the industry. The China Securities Regulatory Commission (CSRC) has drawn up guidelines governing asset managers’ pay perks, suggesting that the performance of the funds they run should factor up to 80 per cent in determining their annual salaries, according to a report on Monday by the official Securities Times. The... https://www.scmp.com/business/banking-finance/article/3335635/new-china-guidelines-base-asset-managers-pay-performance-funds-they-run?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3335635/new-china-guidelines-base-asset-managers-pay-performance-funds-they-run?utm_source=rss_feed Mon, 08 Dec 2025 11:00:27 +0000 Themis Qi Themis Qi British institutional investor L&G Asset Management is not perturbed by the rising debt issuance in the artificial intelligence sector, even as it sees opportunities in the equities of industry giants. Credit related to the AI sector could grow between US$500 billion and US$800 billion a year and reach nearly US$3 trillion by 2030, according to Ben Bennett, head of investment strategy in Asia at the asset management firm known for its active fixed income strategies. “We are defensive in terms of... https://www.scmp.com/business/banking-finance/article/3335546/lg-asset-sees-ai-equity-upside-despite-us3-trillion-debt-concerns?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3335546/lg-asset-sees-ai-equity-upside-despite-us3-trillion-debt-concerns?utm_source=rss_feed Mon, 08 Dec 2025 02:41:27 +0000 Themis Qi,Peggy Ye Themis Qi,Peggy Ye More than half of China’s high-net-worth individuals (HNWIs) plan to increase the share of offshore investments in their portfolios over the next year as they seek diversification amid macroeconomic uncertainty, according to a joint report by insurer YF Life and wealth research firm Hurun. The survey covered 500 affluent mainland Chinese, with an average age of 44 and average household net assets of 37 million yuan (US$5.23 million). Just over half of the respondents were business... https://www.scmp.com/business/china-business/article/3335208/chinas-rich-step-offshore-bets-gold-and-insurance-gain-favour?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3335208/chinas-rich-step-offshore-bets-gold-and-insurance-gain-favour?utm_source=rss_feed Thu, 04 Dec 2025 11:00:18 +0000 Julie Zhang Julie Zhang Mainland China’s billionaires have tightened their grip as Asia-Pacific’s wealthiest after their combined fortunes swelled to nearly US$1.8 trillion, with electric-vehicle (EV) maker BYD’s founder Wang Chuanfu and bubble tea chain Mixue’s bosses among the biggest drivers of that growth, according to a UBS report. Backed by a booming tech sector and surging asset prices, the wealth of mainland China’s billionaires jumped 22.2 per cent year on year to US$1.77 trillion in the 12 months to early... https://www.scmp.com/business/banking-finance/article/3335155/mainland-chinas-billionaire-count-surges-byd-and-mixue-bosses-power-wealth-gains?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3335155/mainland-chinas-billionaire-count-surges-byd-and-mixue-bosses-power-wealth-gains?utm_source=rss_feed Thu, 04 Dec 2025 08:30:09 +0000 Advertising partner Advertising partner [The content of this article has been produced by our advertising partner.] Investing is not a simple matter. In an era defined by rapid interest rate shifts, persistent inflation and complex geopolitical currents, the traditional investment playbook is being rewritten. The number of choices is constantly growing, the quantity of information can feel overwhelming, the market is always evolving, often in volatile and unpredictable ways, and then there is the fear of missing out on the best... https://www.scmp.com/native/business/banking-finance/topics/holistic-approach-managing-wealth/article/3332790/bnp-paribas-wealth-management-answers-need-portfolios-navigate-market-volatility?utm_source=rss_feed https://www.scmp.com/native/business/banking-finance/topics/holistic-approach-managing-wealth/article/3332790/bnp-paribas-wealth-management-answers-need-portfolios-navigate-market-volatility?utm_source=rss_feed Fri, 28 Nov 2025 02:00:10 +0000 Ben Young Ben Young While the US’ AI companies have repeatedly made headlines with historically high valuations, some keen-eyed investors have been making money in China’s AI sector, which has also been on the rise. Thanks to the success of DeepSeek and other native large language models (LLMs), Grace Tam, chief investment adviser at BNP Paribas (BNPP) Hong Kong, says she had expected the “nourishing policies” for AI and digital consumption that were adopted as part of China’s 15th five-year plan at the plenum on... https://www.scmp.com/specialist-publications/special-reports/topics/wealth-alternative-investments/article/3332729/china-bets-real-world-ai-uses-backed-state-support-and-innovation?utm_source=rss_feed https://www.scmp.com/specialist-publications/special-reports/topics/wealth-alternative-investments/article/3332729/china-bets-real-world-ai-uses-backed-state-support-and-innovation?utm_source=rss_feed Thu, 27 Nov 2025 22:30:10 +0000