https://www.scmp.com/rss/325959/feed Key developments in regulation of financial markets with a focus on those in Hong Kong and mainland China. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Jean Iau Jean Iau As global markets are roiled by geopolitical uncertainty and the energy fallout from war in the Middle East, a tiny speck in Southeast Asia has emerged as an oasis of stability – at least in terms of where the well-heeled can park their money. Giig Tanaporn, CEO and founder of business and wealth consultancy Unique Prime Group, has observed that high-net-worth clients, especially from the Middle East and South Korea, have been increasingly choosing Singapore for its regulatory framework,... https://www.scmp.com/week-asia/economics/article/3352921/singapore-shines-stable-investment-oasis-amid-global-storms-very-appetising?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3352921/singapore-shines-stable-investment-oasis-amid-global-storms-very-appetising?utm_source=rss_feed Sat, 09 May 2026 00:00:15 +0000 Karen Tian Karen Tian Overseas-invested securities firms collectively saw income from their China businesses skyrocket in 2025, as combined net profits climbed more than fourfold from a year earlier to 2.65 billion yuan (US$390 million), according to their annual reports. However, while the industry’s bottom line surged last year – fuelled by China’s lifting of capital restrictions and a rebound in the capital market – the individual performances of firms showed a widening gap in scale. A South China Morning Post... https://www.scmp.com/economy/china-economy/article/3352912/wall-street-giants-lead-china-profit-surge-despite-market-polarisation-uneven-recovery?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3352912/wall-street-giants-lead-china-profit-surge-despite-market-polarisation-uneven-recovery?utm_source=rss_feed Fri, 08 May 2026 12:00:15 +0000 Brian Wong Brian Wong A prominent hedge fund manager took advantage of a bank’s “wholesale collective failure” to prevent illicit trading, making HK$1.7 million in a single day by using confidential information to sell shares in a Hong Kong fashion house nine years ago, prosecutors alleged on Tuesday. British-born investor Simon Sadler is on trial at the District Court alongside the now-defunct Segantii Capital Management and former employee Daniel Anthony La Rocca Jnr over alleged insider dealing in the shares of... https://www.scmp.com/news/hong-kong/law-and-crime/article/3352518/hong-kong-block-trade-king-exploited-bank-lapse-make-hk17-million-court-told?utm_source=rss_feed https://www.scmp.com/news/hong-kong/law-and-crime/article/3352518/hong-kong-block-trade-king-exploited-bank-lapse-make-hk17-million-court-told?utm_source=rss_feed Tue, 05 May 2026 11:18:54 +0000 Jun Yu Chan Jun Yu Chan Hong Kong Financial Secretary Paul Chan Mo-po recently said the city could rise to become the world’s No 2 financial centre in 10-15 years. That is the right kind of ambition. In a world being reshaped by geopolitical fragmentation, China’s growing global weight and rapid technological change, Hong Kong must think beyond remaining internationally competitive to exercising global leadership. But ambition alone is not enough. Hong Kong has spent decades proving it can operate at the world’s... https://www.scmp.com/opinion/hong-kong-opinion/article/3351042/be-world-no-2-financial-centre-hong-kong-must-be-rule-maker?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3351042/be-world-no-2-financial-centre-hong-kong-must-be-rule-maker?utm_source=rss_feed Sat, 25 Apr 2026 21:30:09 +0000 Zhang Shidong Zhang Shidong China will allow qualified overseas investors to trade government bond futures contracts, as policymakers step up the opening up of the nation’s capital markets to boost foreign participation. Foreign traders, approved under the qualified foreign institutional investor (QFII) programme by the financial regulators, could buy and sell government-bond futures starting on Friday, the China Securities Regulatory Commission (CSRC) said in a statement on its website. The trading could only be carried... https://www.scmp.com/business/china-business/article/3351332/china-opens-government-bond-futures-select-foreign-investors-reform-push?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3351332/china-opens-government-bond-futures-select-foreign-investors-reform-push?utm_source=rss_feed Fri, 24 Apr 2026 11:00:08 +0000 Kun Tian Kun Tian The most revealing fact about Hong Kong’s stablecoin launch is not that licences were issued. It is who got them, and who did not. By handing the first approvals to HSBC and the Standard Chartered-led joint venture Anchorpoint Financial, regulators made clear from the start that digital money in Hong Kong will be bank-led. That choice matters because Hong Kong is not trying to become Asia’s easiest venue for cryptocurrency experimentation. Rather, it is trying to become the most credible place... https://www.scmp.com/opinion/hong-kong-opinion/article/3350356/what-hong-kongs-conservative-stablecoin-licence-roll-out-reveals?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3350356/what-hong-kongs-conservative-stablecoin-licence-roll-out-reveals?utm_source=rss_feed Wed, 22 Apr 2026 22:30:08 +0000 Sylvia Ma Sylvia Ma US Federal Reserve chair nominee Kevin Warsh’s policy vision – outlined during his Senate confirmation hearing – signals an extension of “America First” into monetary policy, Chinese analysts said. “Warsh’s policy proposals … mark a shift from acting as a ‘global central bank’ supplying unlimited liquidity worldwide to a new approach focused on tightly controlling the overall monetary spigot, prioritising domestic productivity and emphasising monetary sovereignty,” analysts at China... https://www.scmp.com/economy/global-economy/article/3350993/america-first-fed-trump-nominee-kevin-warsh-signals-monetary-sovereignty-push-analysts?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350993/america-first-fed-trump-nominee-kevin-warsh-signals-monetary-sovereignty-push-analysts?utm_source=rss_feed Wed, 22 Apr 2026 08:30:14 +0000 Daniel Ren Daniel Ren Hong Kong Exchanges and Clearing (HKEX) has proposed halving the cash settlement cycle for share trading as part of efforts to enhance market efficiency and liquidity. The city’s bourse operator said in a consultation paper on Friday that it aimed to implement a “T+1” system – under which trades are settled one day after the transaction – in the fourth quarter of 2027, replacing the existing “T+2” cycle. If adopted, the shortened cycle would apply to equities, exchange-traded products,... https://www.scmp.com/business/banking-finance/article/3350526/hkex-proposes-halving-share-settlement-cycle-bid-boost-hong-kongs-financial-profile?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3350526/hkex-proposes-halving-share-settlement-cycle-bid-boost-hong-kongs-financial-profile?utm_source=rss_feed Fri, 17 Apr 2026 13:51:01 +0000 Xinyi Wu Xinyi Wu Beijing has raised the limit on banks’ overseas lending – a move that analysts say will support Chinese firms in outbound investment expansions while helping to stabilise the yuan. Regulators raised the overseas-loan leverage ratio for foreign banks in China and their joint ventures with Chinese lenders from 0.5 to 1.5 on Wednesday, according to a statement published by the central bank and the foreign exchange regulator. In a separate statement, the regulators said that the new rules would... https://www.scmp.com/economy/china-economy/article/3350350/chinas-pboc-raises-leverage-ratios-foreign-lenders-support-outbound-investment?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350350/chinas-pboc-raises-leverage-ratios-foreign-lenders-support-outbound-investment?utm_source=rss_feed Thu, 16 Apr 2026 12:30:13 +0000 Denise Tsang Denise Tsang Hong Kong has struck a balance between financial security and innovation in its strategic roles as a “testing ground” and “firewall” for the nation’s reform and opening up, the city’s finance chief has said. Financial Secretary Paul Chan Mo-po said on Sunday that security was core to the goal of achieving high-quality development as geopolitical tensions created risks in global financial markets and energy supplies. As Hong Kong rolled out the first batch of stablecoin licences last week, the... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349786/hong-kong-balancing-financial-security-innovation-nations-firewall-paul-chan?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349786/hong-kong-balancing-financial-security-innovation-nations-firewall-paul-chan?utm_source=rss_feed Sun, 12 Apr 2026 07:41:09 +0000 Daniel Ren,Enoch Yiu Daniel Ren,Enoch Yiu The Hong Kong Monetary Authority (HKMA) is being urged to go further in loosening restrictions on stablecoins, after granting the city’s first two licences to banks to issue the digital currency. Bankers, venture capitalists and analysts said the long-awaited approvals – awarded to HSBC and a joint venture led by Standard Chartered – fell short of market expectations, underscoring the regulator’s cautious stance amid lingering risk concerns. “It came as a surprise that only two licences were... https://www.scmp.com/business/banking-finance/article/3349742/hong-kong-regulator-urged-expand-stablecoin-rules-after-cautious-roll-out?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3349742/hong-kong-regulator-urged-expand-stablecoin-rules-after-cautious-roll-out?utm_source=rss_feed Sat, 11 Apr 2026 09:10:21 +0000 Enoch Yiu Enoch Yiu Fang Liu, a partner at global law firm Clifford Chance, counts among his clients many technology companies that are keen to list in Hong Kong, but find the current requirements cumbersome. Clifford Chance has helped more than a dozen innovative companies raise funds under the new listing regime since 2018, when Hong Kong Exchanges and Clearing (HKEX) introduced reforms for pre-revenue biotech firms and companies with weighted voting rights (WVR), where one class of shareholders carries more... https://www.scmp.com/business/markets/article/3349647/hong-kongs-listing-reform-20-can-it-outshine-global-rivals-innovative-firms?utm_source=rss_feed https://www.scmp.com/business/markets/article/3349647/hong-kongs-listing-reform-20-can-it-outshine-global-rivals-innovative-firms?utm_source=rss_feed Sat, 11 Apr 2026 03:00:12 +0000 Zhang Shidong Zhang Shidong China has introduced new rules governing short-term trading, as the market regulator steps up oversight of the trading behaviour of major shareholders and listed company executives as part of a drive to bolster investor confidence. The rules apply to shareholders with a stake of 5 per cent or more in a single listed company, including foreign investors, executives of publicly traded companies, their spouses and children, according to the China Securities Regulatory Commission (CSRC). The rules... https://www.scmp.com/business/china-business/article/3349231/china-tightens-trading-scrutiny-major-shareholders-and-executives?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3349231/china-tightens-trading-scrutiny-major-shareholders-and-executives?utm_source=rss_feed Tue, 07 Apr 2026 09:00:08 +0000 SCMP Editorial SCMP Editorial Better safe than sorry – that seems to be why authorities have delayed the stablecoin roll-out. Industry players had expected the Hong Kong Monetary Authority (HKMA), the city’s de facto central bank, to announce the granting of a small number of stablecoin licences at the end of March. But the date came and went. The regulatory review process appears to be taking longer, given the regulators’ well-known cautious stance. But the policy – to make Hong Kong a digital-asset hub with stablecoins... https://www.scmp.com/opinion/comment/article/3348924/stablecoin-launch-delay-shows-hong-kong-would-rather-be-safe-sorry?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3348924/stablecoin-launch-delay-shows-hong-kong-would-rather-be-safe-sorry?utm_source=rss_feed Sun, 05 Apr 2026 23:15:16 +0000 Richard Harris Richard Harris The mighty Zambezi River has its source in northern Zambia, and flows north, west, south, then east, tracing borders for several countries including Zimbabwe. As the river enters Zimbabwe, the water molecules begin to flow faster, unknowingly energised – developing first into a rush, then eventually a torrent as they plunge down the Victoria Falls. This is an excellent analogy of the extremes of stock market price movements. In a stock market crash, prices move slowly, then very fast. My... https://www.scmp.com/opinion/hong-kong-opinion/article/3348698/us-hong-kong-theres-no-excuse-insider-trading?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3348698/us-hong-kong-theres-no-excuse-insider-trading?utm_source=rss_feed Thu, 02 Apr 2026 21:30:10 +0000 Julie Zhang,Enoch Yiu Julie Zhang,Enoch Yiu Hong Kong’s highly anticipated first batch of stablecoin licences did not materialise as expected by the end of March. Industry players said the delay may be caused by a slower-than-expected review process, adding that it could also be due to the regulators’ cautious stance towards launching the first batch of regulated stablecoin licences as the city seeks to cement its status as a digital-asset hub. “I don’t think [the delay] is caused by the market,” said Jack Poon, a member of the task force... https://www.scmp.com/business/banking-finance/article/3348492/hong-kongs-anticipated-stablecoin-licence-end-march-does-not-materialise?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3348492/hong-kongs-anticipated-stablecoin-licence-end-march-does-not-materialise?utm_source=rss_feed Wed, 01 Apr 2026 00:30:08 +0000 Kandy Wong Kandy Wong Professor Kenneth Rogoff of Harvard University has repeatedly warned that the US dollar is approaching a crisis of legitimacy. Having written extensively on the global recession in the late 2000s, Rogoff has turned his focus to the US currency’s increasingly unstable place at the top of the world’s financial hierarchy. A former chief economist at the International Monetary Fund and a chess grandmaster, he published Our Dollar, Your Problem in May last year. In this interview, Rogoff elaborates... https://www.scmp.com/plus/news/china/money-wealth/article/3347930/euro-chinese-yuan-end-us-dollar-dominance-top-economist-says?utm_source=rss_feed https://www.scmp.com/plus/news/china/money-wealth/article/3347930/euro-chinese-yuan-end-us-dollar-dominance-top-economist-says?utm_source=rss_feed Thu, 26 Mar 2026 02:31:08 +0000 Kandy Wong Kandy Wong Welcome to Open Dialogue, a series from the South China Morning Post where we bring together leading voices to discuss the stories and subjects occupying international headlines. In this edition, we invited a prominent industry player and economist to reflect on the role of stablecoins, cryptocurrencies pegged to fiat currencies or other assets. They discuss the differing approaches of China and the United States, as well as Hong Kong’s role in China’s strategy, as the city is expected to issue... https://www.scmp.com/economy/china-economy/article/3347710/gary-liu-and-liu-xiaochun-what-role-stablecoins-could-play-china-and-us?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347710/gary-liu-and-liu-xiaochun-what-role-stablecoins-could-play-china-and-us?utm_source=rss_feed Tue, 24 Mar 2026 22:00:28 +0000 Xinlu Liang Xinlu Liang A senior Chinese financial regulator and former graft fighter has been placed under investigation for corruption, officials announced on Tuesday, marking one of the highest-profile purges among China’s financial regulatory apparatus in recent years. Zhou Liang, vice-chairman of the National Financial Regulatory Administration (NFRA), is under investigation for “serious violations of discipline and law”, a euphemism for corruption, bribery and abuse of power, according to an announcement by the... https://www.scmp.com/news/china/politics/article/3347731/senior-chinese-financial-regulator-and-ex-graft-fighter-zhou-liang-under-corruption-probe?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3347731/senior-chinese-financial-regulator-and-ex-graft-fighter-zhou-liang-under-corruption-probe?utm_source=rss_feed Tue, 24 Mar 2026 10:58:44 +0000 Eunice Xu Eunice Xu In late 2022, Syed Musheer Ahmed packed his bags and departed Hong Kong. The founder of fintech advisory firm FinStep Asia headed for Dubai, where he joined the founding team of the Gulf city’s new digital-asset regulator, Virtual Assets Regulatory Authority (VARA). Like many in Hong Kong’s crypto scene at the time, Ahmed was drawn by the Middle East’s regulatory clarity – a stark contrast to the uncertainty and Covid-19 restrictions still lingering in his adopted home. “Dubai came up as a good... https://www.scmp.com/tech/blockchain/article/3347286/will-hong-kongs-regulatory-clarity-crypto-forge-path-global-hub-status?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3347286/will-hong-kongs-regulatory-clarity-crypto-forge-path-global-hub-status?utm_source=rss_feed Sat, 21 Mar 2026 04:00:08 +0000 Frank Chen Frank Chen A newly released draft of China’s finance law has proposed measures to combat foreign sanctions, safeguard offshore financial assets and carry out national security checks on certain financial data, as Beijing pursues its financial superpower ambitions amid risks and external complexities. “If any country or region violates international law and the basic norms of international relations by taking discriminatory prohibitions, restrictions or other measures in the financial realm against Chinese... https://www.scmp.com/economy/china-economy/article/3347371/chinas-finance-law-set-fight-sanctions-protect-assets-and-financial-security?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347371/chinas-finance-law-set-fight-sanctions-protect-assets-and-financial-security?utm_source=rss_feed Fri, 20 Mar 2026 14:00:10 +0000 Enoch Yiu Enoch Yiu Hong Kong’s market regulator will soon begin inspection of investment banks to assess their roles as sponsors of listing candidates, in its latest effort to uphold the quality of new listings amid a booming market. The Securities and Futures Commission (SFC) said the inspection would focus on whether banks had complied with its January circular, which outlined expectations on staffing and quality controls when handling initial public offerings (IPOs) in Hong Kong. For example, the SFC expected... https://www.scmp.com/business/banking-finance/article/3347182/sfc-prepares-inspect-hong-kong-ipo-listing-sponsors-amid-quality-concerns?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347182/sfc-prepares-inspect-hong-kong-ipo-listing-sponsors-amid-quality-concerns?utm_source=rss_feed Thu, 19 Mar 2026 11:00:18 +0000 Xinyi Wu Xinyi Wu China’s recent changes to the rules governing its global payment system could pave the way for turning it into a genuine alternative to Western networks, according to a new report. Beijing now appears to be moving towards building the Cross-border Interbank Payment System (CIPS) into a global platform compliant with multicurrency settlements and other foreign payment channels, said the study led by Ju Jiandong, a chair professor at Tsinghua University’s PBC School of Finance. Beijing recently... https://www.scmp.com/economy/china-economy/article/3347053/how-china-opened-door-creating-direct-rival-us-payment-systems?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347053/how-china-opened-door-creating-direct-rival-us-payment-systems?utm_source=rss_feed Thu, 19 Mar 2026 02:00:07 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s securities regulator on Wednesday recommended strengthening the stock exchange’s regulations to better protect investors following a review of 2024 compliance and enforcement cases. The Securities and Futures Commission (SFC) submitted its findings after vetting listed companies’ internal control reviews, their handling of late auditor resignations and the processes of the Hong Kong stock exchange’s listing division. The regulator noted that while thestock exchange “had taken steps... https://www.scmp.com/business/banking-finance/article/3347076/hong-kong-securities-watchdog-urges-stock-exchange-tighten-listing-compliance-rules?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347076/hong-kong-securities-watchdog-urges-stock-exchange-tighten-listing-compliance-rules?utm_source=rss_feed Wed, 18 Mar 2026 14:50:51 +0000 Themis Qi,Enoch Yiu Themis Qi,Enoch Yiu A memo circulating in mainland China’s financial community has raised concerns that Beijing plans to ban certain Chinese companies from listing in Hong Kong via a red-chip structure, with analysts fearing that this could create uncertainty for new listings in the city. According to a memo seen by the South China Morning Post, some red-chip companies – entities registered overseas but with assets and businesses within China – seeking regulatory approval for an initial public offering (IPO) in... https://www.scmp.com/business/banking-finance/article/3346903/chinas-tightened-listing-rules-some-red-chips-hong-kong-raise-concerns?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3346903/chinas-tightened-listing-rules-some-red-chips-hong-kong-raise-concerns?utm_source=rss_feed Tue, 17 Mar 2026 11:10:08 +0000 Zhu Wenqian Zhu Wenqian Shanghai has become the latest mainland Chinese city to lower the minimum down payment requirement for loans on commercial-use properties – including shops and business flats – from 50 per cent to at least 30 per cent. Analysts said the move could help reduce excess inventory in the struggling commercial real estate market, though stronger measures might still be needed. “There is still a meaningful gap between the minimum down payment ratio for residential properties and that for mixed-use... https://www.scmp.com/business/article/3346878/shanghai-joins-major-cities-loosening-commercial-property-loan-rules?utm_source=rss_feed https://www.scmp.com/business/article/3346878/shanghai-joins-major-cities-loosening-commercial-property-loan-rules?utm_source=rss_feed Tue, 17 Mar 2026 08:30:40 +0000 SCMP Editorial SCMP Editorial Hong Kong is a critical financial hub for China. Its reputation for market integrity is therefore paramount. If the city wants to remain a top centre for initial public offerings and corporate fundraising, it must command the confidence and trust of investors that it is a clean market. Insider trading and market manipulation at the cost of honest market players are poison to that goal. Investors can easily find other markets with which to entrust their money. So it is good to see evidence of... https://www.scmp.com/opinion/comment/article/3346503/zero-tolerance-insider-trading-central-hong-kongs-financial-future?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3346503/zero-tolerance-insider-trading-central-hong-kongs-financial-future?utm_source=rss_feed Fri, 13 Mar 2026 23:15:09 +0000 Enoch Yiu Enoch Yiu Hong Kong Exchanges and Clearing (HKEX) has unveiled its biggest listing reforms since 2018, broadening its special listing regime for innovative companies and opening the door for smaller and more diverse firms to list in the city, the bourse operator said on Friday. The exchange also proposed expanding the confidential filing option to all new listing applicants, replacing the current rule that applies only to secondary listings or certain technology applicants. The reform was seen as... https://www.scmp.com/business/article/3346458/hkex-opens-door-small-innovative-firms-list-biggest-reforms-2018?utm_source=rss_feed https://www.scmp.com/business/article/3346458/hkex-opens-door-small-innovative-firms-list-biggest-reforms-2018?utm_source=rss_feed Fri, 13 Mar 2026 05:40:33 +0000 Frank Chen Frank Chen China will develop a new financial law and a dedicated financial stability law this year, as Beijing works to defuse risks and prevent new ones as part of its ambition to become a financial superpower. In its work report delivered on Monday, the National People’s Congress Standing Committee, the country’s top legislative body, said it would also amend existing laws, including the People’s Bank of China Law and the Banking Supervision and Management Law. The work report outlined a broad... https://www.scmp.com/economy/china-economy/article/3345973/chinas-financial-superpower-ambitions-get-legal-backing-two-sessions?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345973/chinas-financial-superpower-ambitions-get-legal-backing-two-sessions?utm_source=rss_feed Tue, 10 Mar 2026 00:00:10 +0000 Anthony Rowley Anthony Rowley If financial markets can survive the United States’ war on Iran and Russia’s war against Ukraine, does this mean that financial crashes have become a thing of the past? Or have markets just not grasped the true nature of the current threats to the financial system? The latter is almost certainly the case, as former Goldman Sachs CEO Lloyd Blankfein suggested when he said in a recent Financial Times interview that people had “got more complacent” about financial risks since the 2008 crisis. It is... https://www.scmp.com/opinion/world-opinion/article/3345580/cause-next-global-market-crash-hiding-plain-sight?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3345580/cause-next-global-market-crash-hiding-plain-sight?utm_source=rss_feed Sat, 07 Mar 2026 08:30:08 +0000 Zhang Shidong,Peggy Ye Zhang Shidong,Peggy Ye China’s top securities regulator outlined a plan on Friday to strengthen corporate governance, boost investor returns and cultivate globally competitive companies, as Beijing seeks to reinforce confidence in the country’s capital markets. “On the basis of continuously strengthening the authenticity of listed companies, we will further enhance their investability,” said Wu Qing, chairman of the China Securities Regulatory Commission (CSRC), at a press conference on the sidelines of China’s annual... https://www.scmp.com/business/markets/article/3345738/chinas-securities-regulator-vows-tougher-oversight-shore-stock-market-confidence?utm_source=rss_feed https://www.scmp.com/business/markets/article/3345738/chinas-securities-regulator-vows-tougher-oversight-shore-stock-market-confidence?utm_source=rss_feed Fri, 06 Mar 2026 11:00:09 +0000 Enoch Yiu Enoch Yiu HSBC, the largest lender in Europe and Hong Kong by assets, has signalled for the first time its intent to engage with the city’s forthcoming stablecoin regime, citing Hong Kong’s sound regulatory environment and its potential to drive innovation in the digital asset space. “We are interested in every part of Hong Kong’s innovation landscape, and we want to play a role in all of it,” CEO Georges Elhedery said in a small-group interview – in response to a question whether the bank had applied for... https://www.scmp.com/business/banking-finance/article/3345047/hsbc-signals-intent-join-hong-kongs-stablecoin-regime-amid-digital-innovation-push?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3345047/hsbc-signals-intent-join-hong-kongs-stablecoin-regime-amid-digital-innovation-push?utm_source=rss_feed Sun, 01 Mar 2026 23:30:13 +0000 Sylvia Ma Sylvia Ma China’s yuan has strengthened to its highest level against the US dollar in nearly three years, with its official fixing rate also firming amid growing uncertainty over the American currency. On Wednesday afternoon, the offshore yuan traded at 6.867 per US dollar, its strongest level since April 2023. The same day, the People’s Bank of China set the yuan’s midpoint rate – also known as the daily fixing – at 6.9321 per US dollar, also the strongest since May 2023. The currency has appreciated... https://www.scmp.com/economy/china-economy/article/3344582/chinas-yuan-strengthens-near-3-year-high-us-dollar-uncertainty-grows?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344582/chinas-yuan-strengthens-near-3-year-high-us-dollar-uncertainty-grows?utm_source=rss_feed Wed, 25 Feb 2026 08:15:05 +0000 Enoch Yiu Enoch Yiu When Wilson Chan Fung-cheung joined Hong Kong’s banking industry as a foreign-exchange trader more than four decades ago, his work involved US dollars, UK pounds, Japanese yen and various European and Asian currencies – but not Chinese yuan. “Back then, there was no yuan trading at all as, in fact, the internationalisation of the yuan only started in 2009,” recalled Chan, who has worked for various Chinese banks. Beijing’s decision that year to promote its currency for wider use in trade,... https://www.scmp.com/business/banking-finance/article/3344464/why-chinas-path-financial-superpower-status-could-begin-hong-kong?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3344464/why-chinas-path-financial-superpower-status-could-begin-hong-kong?utm_source=rss_feed Tue, 24 Feb 2026 15:00:09 +0000 Julie Zhang,Themis Qi Julie Zhang,Themis Qi Thousands of Chinese retail investors spent the last day of the Year of the Snake on Monday filing complaints against UBS SDIC Fund Management for an overnight valuation change that caused steep losses for holders of its silver fund, even after the firm offered remedies. More than 200,000 people lodged complaints against the operator of the country’s only silver fund after the controversial change on February 2, according to Xiaofei Bao, an online Chinese consumer protection platform. The switch... https://www.scmp.com/business/commodities/article/3343729/ubs-china-venture-faces-wrath-silver-investors-after-valuation-change-increases-losses?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3343729/ubs-china-venture-faces-wrath-silver-investors-after-valuation-change-increases-losses?utm_source=rss_feed Mon, 16 Feb 2026 08:00:07 +0000 Carol Yang Carol Yang China has expanded its list of domestic systemically important banks (D-SIBs) – institutions subject to tighter regulatory standards – as authorities step up macroprudential oversight to safeguard financial stability amid high exposure to property sector debt. China Zheshang Bank, a joint-stock lender in east China’s Zhejiang province with total assets of 3.35 trillion yuan (US$485 billion), was added to the list released on Friday by the People’s Bank of China and the National Financial... https://www.scmp.com/economy/china-economy/article/3343580/china-expands-oversight-major-banks-amid-property-sector-risks?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3343580/china-expands-oversight-major-banks-amid-property-sector-risks?utm_source=rss_feed Sun, 15 Feb 2026 09:00:08 +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 Luna Sun Luna Sun A senior executive at one of China’s major policy banks has been placed under investigation, becoming the latest target in a sweeping official anti-corruption drive across the financial sector. Xu Yiding, vice-president of the Agricultural Development Bank of China (ADBC) and member of its Communist Party committee, is suspected of “serious violations of party discipline and the law”, according to the Central Commission for Discipline Inspection and the National Supervisory Commission. The two... https://www.scmp.com/economy/china-economy/article/3342816/farmers-son-banker-xu-yiding-under-investigation-chinas-anti-corruption-watchdog?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3342816/farmers-son-banker-xu-yiding-under-investigation-chinas-anti-corruption-watchdog?utm_source=rss_feed Sun, 08 Feb 2026 15:00:14 +0000 Xiaofei Xu Xiaofei Xu London has cemented its role as a leading offshore hub for China’s yuan, according to a new financial cooperation agreement that also aims to ease the cross-listing of firms in each other’s markets. This emerged from the first meeting of the UK-China Financial Working Group, which convened in Beijing on Saturday. The meeting coincided with the final day of British Prime Minister Keir Starmer’s state visit. The meeting’s outcome and a joint statement were not made public until Friday. “The... https://www.scmp.com/economy/global-economy/article/3342696/uk-china-boost-financial-ties-deepen-londons-role-offshore-yuan-hub?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3342696/uk-china-boost-financial-ties-deepen-londons-role-offshore-yuan-hub?utm_source=rss_feed Fri, 06 Feb 2026 13:00:29 +0000 Peggy Ye Peggy Ye Hong Kong’s de facto central bank said on Thursday it will allow most second-hand residential property transactions to be settled through direct bank transfers, giving homebuyers and sellers a faster and safer alternative to cheque-based payments. The Hong Kong Monetary Authority said the expanded Payment Arrangements for Property Transactions (PAPT) scheme would take effect on February 28, covering the bulk of resale home deals in the city. The announcement was made jointly with the Hong Kong... https://www.scmp.com/business/article/3342543/faster-and-safer-hong-kong-allow-resale-home-payments-through-direct-bank-transfers?utm_source=rss_feed https://www.scmp.com/business/article/3342543/faster-and-safer-hong-kong-allow-resale-home-payments-through-direct-bank-transfers?utm_source=rss_feed Thu, 05 Feb 2026 11:46:03 +0000 He Huifeng He Huifeng Following the sudden demise of a major gold trading platform in the southern Chinese city of Shenzhen, another retail-focused operator has suffered a run, stoking fears of contagion in China’s private market for the precious metal. The platform, Ydd007, is the latest to face trouble. On Sunday, it told investors that it had experienced three “severe runs” in recent days amid mounting industry panic. It also acknowledged a significant funding shortfall, according to Chengdu.cn, part of the... https://www.scmp.com/economy/china-economy/article/3342258/chinas-gold-trading-hub-rattled-second-platform-faces-payment-crisis?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3342258/chinas-gold-trading-hub-rattled-second-platform-faces-payment-crisis?utm_source=rss_feed Tue, 03 Feb 2026 12:02:49 +0000 Ken Chu Ken Chu China’s commercial space sector has entered a new frontier. In January, a private Chinese aerospace company unveiled the test capsule of what is set to become the country’s first commercially developed crewed spacecraft, with plans for crewed flights by 2028 and bookings already taken from private space tourists. The project reflects a decisive shift in national policy, where commercial players are no longer peripheral participants but integral contributors to major space missions. This... https://www.scmp.com/opinion/china-opinion/article/3341977/china-opens-its-space-sector-hong-kong-should-reach-stars?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3341977/china-opens-its-space-sector-hong-kong-should-reach-stars?utm_source=rss_feed Tue, 03 Feb 2026 01:30:09 +0000 Eunice Xu Eunice Xu Hong Kong’s cryptocurrency investors remain cautiously optimistic despite a sharp market sell-off over the weekend that pushed major digital assets to months-long lows. Bitcoin slid to US$74,541 on Monday morning, its lowest level in 10 months, extending a decline of about 40 per cent from its record high above US$126,000. That peak had been fuelled in part by expectations of a more crypto-friendly stance from the Trump administration. Other major tokens also weakened, with Ethereum down more... https://www.scmp.com/business/article/3342126/hong-kong-crypto-investors-stay-cautious-upbeat-bitcoin-sell-deepens?utm_source=rss_feed https://www.scmp.com/business/article/3342126/hong-kong-crypto-investors-stay-cautious-upbeat-bitcoin-sell-deepens?utm_source=rss_feed Mon, 02 Feb 2026 13:30:17 +0000 Connor Mycroft Connor Mycroft Hong Kong’s finance chief has promoted the city’s regulatory regime for digital assets as “responsible and sustainable” at the annual World Economic Forum in Davos. Delivering opening remarks at a closed-door workshop on Tuesday, Financial Secretary Paul Chan Mo-po said finance and technology were “mutually reinforcing”, but a balanced approach was needed to support their development. Speaking about Hong Kong’s experience, Chan said digital assets could enhance transparency, strengthen risk... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3340594/hong-kong-promotes-responsible-and-sustainable-digital-asset-regime-davos?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3340594/hong-kong-promotes-responsible-and-sustainable-digital-asset-regime-davos?utm_source=rss_feed Tue, 20 Jan 2026 12:51:40 +0000 Zhang Shidong Zhang Shidong China’s move to raise margin requirements for leveraged stock trading signalled regulators’ push to steer clear of boom-and-bust cycles, while strengthening the stock market’s role in funding the country’s tech self-sufficiency efforts, according to analysts. “The signal from regulators was crystal-clear: guide the market towards a stable transition to a slow bull run,” said Wang Jun, a strategist at BOC International in Shanghai. “Investors should reduce their leverage levels to guard against... https://www.scmp.com/business/china-business/article/3340000/china-pushes-slow-bull-run-tightened-margin-financing-rules-fight-overheating?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3340000/china-pushes-slow-bull-run-tightened-margin-financing-rules-fight-overheating?utm_source=rss_feed Fri, 16 Jan 2026 00:30:08 +0000 Alice Li Alice Li China has ramped up audits involving online influencers and high-wage earners, as part of broader efforts to expand tax revenue and refine the taxation system. The State Taxation Administration on Wednesday spotlighted two fresh cases involving influencers in the centrally administered city of Chongqing and in Gansu province. In Chongqing, authorities ordered an influencer surnamed Peng – who has 30 million followers and works in online video production and commercial advertising – to pay 4.15... https://www.scmp.com/economy/china-economy/article/3340007/china-targets-wealthy-influencers-audits-fines-fiscal-pressures-rise?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3340007/china-targets-wealthy-influencers-audits-fines-fiscal-pressures-rise?utm_source=rss_feed Thu, 15 Jan 2026 12:00:09 +0000 Letters Letters Feel strongly about these letters, or any other aspects of the news? Share your views by emailing us your Letter to the Editor at letters@scmp.com or filling in this Google form. Submissions should not exceed 400 words In 2019, Hong Kong’s fintech development reached a milestone when the first virtual banks were granted licences. Interestingly, the earliest people around me to get their feet wet were not tech enthusiasts, but two long-time professionals from traditional finance. They left... https://www.scmp.com/opinion/letters/article/3339288/5-years-digital-banks-are-taking-root-hong-kong?utm_source=rss_feed https://www.scmp.com/opinion/letters/article/3339288/5-years-digital-banks-are-taking-root-hong-kong?utm_source=rss_feed Sat, 10 Jan 2026 03:30:09 +0000 Sylvia Ma,Alice Li Sylvia Ma,Alice Li A mouthpiece for China’s ruling Communist Party has warned against conflicting economic measures, urging officials to better guide market expectations in a front-page commentary highlighting Beijing’s growing focus on policy coordination. “The more policies there are, the greater the risk they will be working at odds,” the People’s Daily editorial said on Friday, pointing to China’s increasingly complex economic environment, “with more and more policy dilemmas emerging and greater demands on... https://www.scmp.com/economy/china-economy/article/3339364/china-cautions-against-compound-errors-clashing-policies?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3339364/china-cautions-against-compound-errors-clashing-policies?utm_source=rss_feed Fri, 09 Jan 2026 12:30:18 +0000 Enoch Yiu Enoch Yiu The Hong Kong Monetary Authority (HKMA) expects to work with other financial regulators to promote artificial intelligence adoption in various sectors over the next five years and further advance fintech development, according to the head of the city’s de facto central bank. Under the five-year plan called Fintech 2030 that starts this year, the HKMA would expand the scope of the city’s generative AI sandbox to include more industries as a step towards enhancing risk management, fraud detection... https://www.scmp.com/business/banking-finance/article/3338531/hkma-talks-sfc-insurance-authority-promote-fintech-over-next-5-years?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3338531/hkma-talks-sfc-insurance-authority-promote-fintech-over-next-5-years?utm_source=rss_feed Mon, 05 Jan 2026 00:30:16 +0000 Zhang Shidong,Yulu Ao Zhang Shidong,Yulu Ao Initial public offerings (IPOs) in mainland China nearly doubled in 2025 from a year earlier after the securities regulator rolled back curbs on new listings and resumed approvals for pre-profit technology companies, in line with Beijing’s drive to replace imported tech products with home-grown alternatives. A total of 115 companies raised a combined 128 billion yuan (US$18.3 billion) from IPOs on the Shanghai, Shenzhen and Beijing exchanges last year, according to Bloomberg data. That eclipsed... https://www.scmp.com/business/china-business/article/3338143/turning-point-china-doubles-ipos-2025-amid-eased-curbs-drive-tech-innovation?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3338143/turning-point-china-doubles-ipos-2025-amid-eased-curbs-drive-tech-innovation?utm_source=rss_feed Sun, 04 Jan 2026 06:00:18 +0000