https://www.scmp.com/rss/513895/feed Organised by the Hong Kong Monetary Authority, the Global Financial Leaders’ Investment Summit on November 1 to 3 will be attended by 30 chief executives of global banks and funds, including Blackstone, Goldman Sachs, HSBC, Morgan Stanley, Standard Chartered and UBS, marking the biggest congregation of global financial heavyweights in Hong Kong since the Covid-19 pandemic drove the city into three years of quarantines and social distancing. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Heavyweights from the world’s largest banks and financial institutions, who have descended on Hong Kong for a summit organised by the city’s monetary authority, were welcomed with a banquet at the Palace Museum on Monday evening. The Hong Kong Monetary Authority (HKMA) hosted 300 global bankers at the landmark museum in the lead up to the second edition of its Global Financial Leaders’ Investment Summit, which takes place over the next two days. Guests were treated to a cocktail reception... https://www.scmp.com/business/banking-finance/article/3240545/hong-kong-treats-top-bankers-lavish-banquet-cultural-show-launch-global-financial-leaders-investment?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3240545/hong-kong-treats-top-bankers-lavish-banquet-cultural-show-launch-global-financial-leaders-investment?utm_source=rss_feed Mon, 06 Nov 2023 13:30:16 +0000 Heavyweights from Goldman Sachs and Morgan Stanley will be among about 300 global bankers who will descend on Hong Kong next month, as the city’s monetary authority taps the world’s top financial minds for opportunities amid economic and political complexities in a post-Covid-19 world. The Hong Kong Monetary Authority (HKMA), the city’s de facto central bank, is organising the second edition of its Global Financial Leaders’ Investment Summit from November 6 to 8, with a welcome dinner at the... https://www.scmp.com/business/banking-finance/article/3236955/hong-kongs-2023-global-bankers-summit-draws-goldman-ubs-and-about-90-ceos-citys-vibrancy-showcase?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3236955/hong-kongs-2023-global-bankers-summit-draws-goldman-ubs-and-about-90-ceos-citys-vibrancy-showcase?utm_source=rss_feed Thu, 05 Oct 2023 16:01:11 +0000 Nearly 300 top global banking and finance executives and scores of central bankers will descend on Hong Kong in November for two conferences hosted by the Hong Kong Monetary Authority (HKMA). The city’s de facto central bank is organising the second edition of the Global Financial Leaders’ Investment Summit from November 6 to 8 at the Four Seasons Hotel, followed by the annual governors’ meeting of the Bank for International Settlements (BIS) on November 27. Coinciding with the HKMA’s 30th... https://www.scmp.com/business/banking-finance/article/3224497/hkmas-global-financial-summit-bis-conference-bring-hundreds-bankers-hong-kong-november?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3224497/hkmas-global-financial-summit-bis-conference-bring-hundreds-bankers-hong-kong-november?utm_source=rss_feed Mon, 19 Jun 2023 00:30:12 +0000 Earlier this month, an elite group of chairmen and CEOs from some of the largest financial institutions in the world gathered in Hong Kong for the Global Financial Leaders’ Investment Summit, rubbing shoulders, discussing top-of-mind issues and enjoying dinner at M+, Hong Kong’s new museum of visual culture. While the high-level event showcased the glamorous side of Hong Kong as an international financial centre, there are multiple channels through which finance can be unleashed as a force for... https://www.scmp.com/comment/opinion/article/3199353/how-hong-kongs-reboot-global-financial-centre-can-improve-lives-city?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3199353/how-hong-kongs-reboot-global-financial-centre-can-improve-lives-city?utm_source=rss_feed Tue, 15 Nov 2022 08:30:11 +0000 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. Submissions should not exceed 400 words, and must include your full name and address, plus a phone number for verification. The just-concluded Hong Kong Sevens rugby tournament was conceived in hope, nurtured with faith and born out of courage. The whole of our community shares its success. Yes, it was not what it used to be but it was an even bigger... https://www.scmp.com/comment/letters/article/3198962/rugby-sevens-was-display-what-hong-kong-all-about?utm_source=rss_feed https://www.scmp.com/comment/letters/article/3198962/rugby-sevens-was-display-what-hong-kong-all-about?utm_source=rss_feed Thu, 10 Nov 2022 06:30:09 +0000 Standard Chartered plans to take an active role in the development of virtual-asset trading in Hong Kong by introducing products and services with appropriate safety nets for investors, according to CEO Bill Winters. The bank’s leader also called on the city to scrap its travel rules. Winters praised measures introduced by the Hong Kong government last week to develop the virtual-asset industry and promote the city as an international cryptocurrency hub as it vies with Singapore for that... https://www.scmp.com/business/article/3198688/standard-chartered-ceo-praises-hong-kong-virtual-asset-trading-moves-calls-city-scrap-all-travel?utm_source=rss_feed https://www.scmp.com/business/article/3198688/standard-chartered-ceo-praises-hong-kong-virtual-asset-trading-moves-calls-city-scrap-all-travel?utm_source=rss_feed Mon, 07 Nov 2022 23:30:09 +0000 The much-heralded gathering of global bankers and financiers ended on Thursday on an optimistic note about Hong Kong’s prospects, as overseas attendees hailed their unhindered participation as proof that the city can put its coronavirus restrictions behind it and get back to business. The message that was repeated and reinforced throughout the three days of the Global Financial Leaders’ Investment Summit was that it is “business as usual” in Hong Kong, even if the city had been slower than other... https://www.scmp.com/economy/global-economy/article/3198663/global-impact-hong-kong-back-global-financiers-herald-citys-return?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3198663/global-impact-hong-kong-back-global-financiers-herald-citys-return?utm_source=rss_feed Mon, 07 Nov 2022 06:00:12 +0000 https://www.scmp.com/business/series/3198676/business-leaders-whats-next-hong-kong?utm_source=rss_feed https://www.scmp.com/business/series/3198676/business-leaders-whats-next-hong-kong?utm_source=rss_feed Mon, 07 Nov 2022 03:49:53 +0000 HSBC, Hong Kong’s biggest lender, will do whatever it takes to put the city’s economy back on track in the post-pandemic era despite the challenges posed by the rising global interest-rate cycle, according to its global head. The Global Financial Leaders’ Investment Summit and the easing of quarantine measures will help Hong Kong to reboot from the pandemic, Noel Quinn, the bank’s London-based CEO, said at a media briefing on Wednesday afternoon. “As the international community continues to... https://www.scmp.com/business/banking-finance/article/3198626/hsbc-ceo-noel-quinn-vows-help-reboot-hong-kongs-economy-city-reopens-business-after-covid?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3198626/hsbc-ceo-noel-quinn-vows-help-reboot-hong-kongs-economy-city-reopens-business-after-covid?utm_source=rss_feed Mon, 07 Nov 2022 00:30:17 +0000 The descent of bankers into Hong Kong last week for the widely anticipated Global Financial Leaders’ Investment Summit was quite the spectacle. Some 200 bankers, finance executives and fund managers from more than 20 countries, together with our city’s leaders, were seen at the summit events maskless – chatting, eating and thoroughly enjoying themselves. It was a sight that needed some getting used to. In true Hong Kong can-do spirit, the summit’s organisers, the Hong Kong Monetary Authority... https://www.scmp.com/comment/opinion/article/3198408/if-bankers-can-get-special-00-travel-treatment-let-rest-hong-kong-too?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3198408/if-bankers-can-get-special-00-travel-treatment-let-rest-hong-kong-too?utm_source=rss_feed Mon, 07 Nov 2022 00:15:07 +0000 A high-level banking summit held last week has shown to the world that Hong Kong has returned to normality, the city’s finance chief has said, as overseas attendees added that their experiences during the trip differed from foreign media reports. Financial Secretary Paul Chan Mo-po on Sunday also said in his weekly blog that the city needed to strengthen investment by wooing firms and talent amid a pessimistic economic outlook this year, with the latest gross domestic product (GDP) in the third... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3198612/high-level-banking-summit-shows-hong-kong-has-returned-normality-finance-chief-paul-chan-says?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3198612/high-level-banking-summit-shows-hong-kong-has-returned-normality-finance-chief-paul-chan-says?utm_source=rss_feed Sun, 06 Nov 2022 05:45:45 +0000 Hong Kong’s No 2 official has condemned The Wall Street Journal over an editorial on the city’s recently concluded financial summit, calling the commentary by the New York-based international daily “ill-intended and gravely biased” and an insult to many of the globally renowned participants. Arguing that the newspaper had a malicious intent to demonise the Global Financial Leaders’ Investment Summit at all costs, Chief Secretary Eric Chan Kwok-ki on Saturday defended the three-day mega event,... https://www.scmp.com/news/hong-kong/politics/article/3198558/hong-kong-no-2-official-condemns-wall-street-journals-ill-intended-and-gravely-biased-editorial-mega?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3198558/hong-kong-no-2-official-condemns-wall-street-journals-ill-intended-and-gravely-biased-editorial-mega?utm_source=rss_feed Sat, 05 Nov 2022 06:15:39 +0000 https://www.scmp.com/business/article/3198424/video-prudential-eyes-greater-bay-area-and-insurance-connect-opportunities-cfo-james-turner?utm_source=rss_feed https://www.scmp.com/business/article/3198424/video-prudential-eyes-greater-bay-area-and-insurance-connect-opportunities-cfo-james-turner?utm_source=rss_feed Fri, 04 Nov 2022 06:08:59 +0000 https://www.scmp.com/business/article/3198423/video-mirae-asset-hong-kong-head-believes-shore-rmb-bond-market-be-big-investment-opportunities?utm_source=rss_feed https://www.scmp.com/business/article/3198423/video-mirae-asset-hong-kong-head-believes-shore-rmb-bond-market-be-big-investment-opportunities?utm_source=rss_feed Fri, 04 Nov 2022 06:05:44 +0000 Hong Kong’s gathering of global financiers ended on a note of optimism after two days of upbeat speeches, as overseas attendees hailed their unhindered participation as proof that the city can put its Covid-19 restrictions behind and get back to business. During the three-day event, Citigroup opened its first global wealth management centre in Tsim Sha Tsui to serve dollar-denominated millionaires, joining rivals HSBC and Standard Chartered in making Hong Kong the beachhead for tapping the... https://www.scmp.com/business/banking-finance/article/3198312/hong-kongs-financial-summit-ends-upbeat-note-attendees-bid-farewell-covid-19s-restrictions-and-head?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3198312/hong-kongs-financial-summit-ends-upbeat-note-attendees-bid-farewell-covid-19s-restrictions-and-head?utm_source=rss_feed Thu, 03 Nov 2022 10:29:41 +0000 The era of high return on investment is over, and the focus should be on value amid looming market uncertainty, according to top money managers, as the Federal Reserve left open the possibility of further rate increases after delivering another steep rate increase. “We are of the belief that the Fed will do whatever it takes to tame inflation,” Cyrus Taraporevala, president and CEO of State Street Global Advisors, one of world’s largest asset managers managing nearly US$$3.26 trillion, said at... https://www.scmp.com/business/banking-finance/article/3198296/federal-reserves-rampant-rate-increases-turn-markets-cloudy-investors-should-focus-fundamentals?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3198296/federal-reserves-rampant-rate-increases-turn-markets-cloudy-investors-should-focus-fundamentals?utm_source=rss_feed Thu, 03 Nov 2022 09:42:24 +0000 The world’s top asset managers said there is money to be made in the current economic climate despite headwinds from galloping inflation, geopolitical tension and rising interest rates. Diversified portfolios, investing in green energy, private equity and in Chinese and US markets are some of the best ways to navigate the current economic conditions, they said during a global financial conference in Hong Kong. Senior executives from Macquarie Asset Management, Man Group, Apollo Asset Manager and... https://www.scmp.com/business/markets/article/3198262/plentiful-opportunities-make-investments-count-times-economic-uncertainty-top-global-asset-managers?utm_source=rss_feed https://www.scmp.com/business/markets/article/3198262/plentiful-opportunities-make-investments-count-times-economic-uncertainty-top-global-asset-managers?utm_source=rss_feed Thu, 03 Nov 2022 07:42:54 +0000 A global financial hub that bridges East and West attracts international conferences. It takes something extraordinary to set one of them apart. In the case of the current Global Financial Leaders’ Investment Summit in Hong Kong, it has gone ahead against all the odds amid Covid-related restrictions, with hardly a significant absentee among a galaxy of bankers and finance chiefs. For a city that emerged from social unrest into a pandemic, it forms a reassuring counterpoint to geopolitical and... https://www.scmp.com/comment/opinion/article/3198185/reputation-global-financial-hub-rests-return-normality?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3198185/reputation-global-financial-hub-rests-return-normality?utm_source=rss_feed Wed, 02 Nov 2022 22:45:10 +0000 Mia Castagnone Mia Castagnone Technologies such as blockchain and central bank digital currencies are reshaping the future of finance, leaders of major banks said during a global financial conference in Hong Kong. Senior figures from JPMorgan, BlackRock, HSBC and Standard Chartered shared their thoughts on how the fintech industry is shaking up the banking sector during a panel discussion at the Global Financial Leaders’ Investment Summit on Wednesday. President and chief operating officer of JPMorgan, Daniel Pinto, said... https://www.scmp.com/business/banking-finance/article/3198166/cryptocurrencies-blockchain-are-reshaping-future-finance-say-global-banking-chiefs?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3198166/cryptocurrencies-blockchain-are-reshaping-future-finance-say-global-banking-chiefs?utm_source=rss_feed Wed, 02 Nov 2022 22:00:19 +0000 Hong Kong can take the lead in promoting sustainable finance in the Asia-Pacific, as the city is among the first to incorporate disclosures for environment, social and corporate governance (ESG) in its audit and listing rules, global bankers said. Each of Hong Kong’s 2,500 listed companies must put numbers on potential impact from extreme climate events like severe typhoons and rising sea levels, according to draft rules due for final approval in 2023. Any fund manager with a portfolio larger... https://www.scmp.com/business/article/3198158/hong-kong-can-take-lead-set-disclosure-example-sustainable-financing-bankers-say?utm_source=rss_feed https://www.scmp.com/business/article/3198158/hong-kong-can-take-lead-set-disclosure-example-sustainable-financing-bankers-say?utm_source=rss_feed Wed, 02 Nov 2022 10:31:21 +0000 Top Chinese securities officials urged international investors to come to China and see its determination towards growing the economy as they dismissed concerns over where economic growth ranks among the priorities of the country’s reshuffled leadership. “I deal with international investors quite a lot in my daily work and I’m afraid some of them have read too much the international media reports about events in China,” Fang Xinghai, vice-chairman of the China Securities Regulatory Commission... https://www.scmp.com/business/banking-finance/article/3198125/china-regulator-calls-out-international-media-failing-credit-beijings-economic-growth-emphasis?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3198125/china-regulator-calls-out-international-media-failing-credit-beijings-economic-growth-emphasis?utm_source=rss_feed Wed, 02 Nov 2022 07:35:42 +0000 Inflation and geopolitical tensions are the two main risks hanging over a global economy that is still reeling from the Covid-19 pandemic, Russia’s invasion of Ukraine and rising interest rates, according to leading global financiers who spoke at an international financial summit in Hong Kong on Wednesday. The world will be clouded by “a significant amount of uncertainty” in 2023, but central banks will step in to tame inflation amid the transition from economic expansion to economic... https://www.scmp.com/business/banking-finance/article/3198112/inflation-geopolitical-tensions-will-cast-shadow-uncertain-global-economy-next-year-say-top-bankers?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3198112/inflation-geopolitical-tensions-will-cast-shadow-uncertain-global-economy-next-year-say-top-bankers?utm_source=rss_feed Wed, 02 Nov 2022 06:28:55 +0000 Beijing remains “fully focused” on economic growth and is committed to making Hong Kong an even stronger international financial centre to help achieve that goal, China’s top financial regulators said during a global finance summit in Hong Kong on Wednesday. “Hong Kong has great potential in deepening connections with the mainland financial market, financing and investing under the Belt and Road initiative, fintech and green finance,” Yi Gang, governor of the People’s Bank of China, told... https://www.scmp.com/business/banking-finance/article/3198096/china-fully-focused-economic-growth-hong-kongs-capital-markets-crucial-enabler-top-regulators?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3198096/china-fully-focused-economic-growth-hong-kongs-capital-markets-crucial-enabler-top-regulators?utm_source=rss_feed Wed, 02 Nov 2022 05:00:21 +0000 The Global Financial Leaders’ Investment Summit kicked off publicly today in Hong Kong, with the de facto central bank hosting the largest gathering of financial heavyweights the city has seen in almost three years. More than 200 international and regional leaders from around 120 global financial institutions including banks, securities firms, asset managers, private equity and venture capital firms, hedge funds, and insurers are attending the three-day summit, according to the HKMA. Hong Kong... https://www.scmp.com/business/banking-finance/article/3198056/hkmas-financial-summit-kicks-publicly-hong-kong-today-marking-citys-reopening-global-capital?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3198056/hkmas-financial-summit-kicks-publicly-hong-kong-today-marking-citys-reopening-global-capital?utm_source=rss_feed Wed, 02 Nov 2022 00:46:48 +0000 Swiss private bank Julius Baer will expand its Hong Kong office in the coming years, as it aims to use the city as a hub from which to develop its wealth management and family office businesses in China and other Asian markets, according to its global chief. Zurich-based CEO Philipp Rickenbacher, one of about 200 top global financiers attending the Global Financial Leaders’ Investment Summit in Hong Kong from November 1 to 3, had not visited the city for three years because of the pandemic. He... https://www.scmp.com/business/banking-finance/article/3197902/swiss-bank-julius-baer-plans-expansion-hong-kong-after-pandemic-tap-wealth-management-opportunities?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3197902/swiss-bank-julius-baer-plans-expansion-hong-kong-after-pandemic-tap-wealth-management-opportunities?utm_source=rss_feed Wed, 02 Nov 2022 00:30:11 +0000 Citigroup opened its first global wealth management centre in Hong Kong on Tuesday, with a senior executive saying it is “business as usual” in the city as the US lender looks to expand now that the pandemic has receded. New York-based Anand Selvakesari, CEO of personal banking and wealth management at Citigroup, made the comments as he and other senior executives attended the Global Financial Leaders’ Investment Summit hosted by the Hong Kong Monetary Authority from Tuesday to Thursday, the... https://www.scmp.com/business/banking-finance/article/3198052/top-citigroup-executive-says-hong-kong-back-normal-bank-opens-new-wealth-management-centre-city?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3198052/top-citigroup-executive-says-hong-kong-back-normal-bank-opens-new-wealth-management-centre-city?utm_source=rss_feed Tue, 01 Nov 2022 23:30:11 +0000 China’s top regulators will participate virtually in the Global Financial Leaders’ Investment Summit, according to a programme list seen by the South China Morning Post, echoing President Xi Jinping’s recent promise of “full support for Hong Kong to develop its economy”. Yi Gang, the governor of the People’s Bank of China (PBOC), Xiao Yuanqi, vice-chairman of the China Banking and Insurance Regulatory Commission (CBIRC), and Fang Xinghai, vice-chairman of the China Securities Regulatory... https://www.scmp.com/business/banking-finance/article/3197998/chinas-central-bank-governor-yi-gang-and-two-top-regulators-take-part-hong-kong-financial-summit?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3197998/chinas-central-bank-governor-yi-gang-and-two-top-regulators-take-part-hong-kong-financial-summit?utm_source=rss_feed Tue, 01 Nov 2022 08:51:29 +0000 Hong Kong leader John Lee Ka-chiu has shrugged off concerns over at least three top bankers pulling out of the city’s first mega financial summit since the Covid-19 pandemic began, as he struck a cautiously optimistic tone on a return to normality. Speaking to the press before his weekly Executive Council meeting, the chief executive noted that two bankers had pulled out of the three-day event – which began on Tuesday – after coming down with Covid-19, while a third had changed his schedule and... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3197959/hong-kong-leader-john-lee-shrugs-absence-3-top-bankers-key-financial-summit-insists-city-full-vigour?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3197959/hong-kong-leader-john-lee-shrugs-absence-3-top-bankers-key-financial-summit-insists-city-full-vigour?utm_source=rss_feed Tue, 01 Nov 2022 04:30:21 +0000 Hong Kong has a wealth of talent and infrastructure that will support its push to be a world leader in the fintech industry, top business leaders have said in the lead up to the Global Financial Leaders Investment Summit in Hong Kong. The city is home to high-quality talent not seen anywhere else, said Mary Callahan Erdoes, CEO of JPMorgan Chase’s asset and wealth management business. “The talent, the drive, the innovation … I haven’t seen that in a very long time in any particular area,” she... https://www.scmp.com/business/china-business/article/3197804/fintech-jpmorgan-credit-suisse-bloomberg-leaders-say-hong-kong-has-talent-capital-and-key-location?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3197804/fintech-jpmorgan-credit-suisse-bloomberg-leaders-say-hong-kong-has-talent-capital-and-key-location?utm_source=rss_feed Tue, 01 Nov 2022 03:30:12 +0000 Rapid growth of green financing and the launch of carbon-credit trading by the local bourse are turning Hong Kong into a leading sustainable finance hub in Asia, financiers said ahead of a key summit this week. Hong Kong has pledged to reach carbon neutrality by 2050. As part of its efforts to achieve this goal, the government over the past few years has issued green bonds worth US$10 billion as of August, according to a government report. A green bond is a fixed-income financial instrument... https://www.scmp.com/business/article/3197818/hong-kong-asias-sustainable-finance-centre-thanks-green-bond-growth-and-carbon-credit-trading?utm_source=rss_feed https://www.scmp.com/business/article/3197818/hong-kong-asias-sustainable-finance-centre-thanks-green-bond-growth-and-carbon-credit-trading?utm_source=rss_feed Tue, 01 Nov 2022 01:30:07 +0000 Interest in chartering private planes to Hong Kong has increased in the run-up to its financial leaders summit this week, according to an operator, who says extra staff are ready to fly out any visiting bankers who test positive for Covid-19, but prices can top US$350,000. Jolie Howard, CEO of Hong Kong-based jet charter service L’VOYAGE, said the industry had also benefited from the government’s move to axe its mandatory hotel quarantine policy last month ahead of a number of big, high-profile... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3197908/interest-private-jets-hong-kong-rising-city-hosts-mega-events-and-welcomes-back-visitors-flight?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3197908/interest-private-jets-hong-kong-rising-city-hosts-mega-events-and-welcomes-back-visitors-flight?utm_source=rss_feed Tue, 01 Nov 2022 00:45:11 +0000 Hong Kong and China should celebrate and extend the suite of connect schemes that give overseas investors access to mainland Chinese financial assets, as the mechanisms enhance both Hong Kong’s role as a finance hub and the long-term growth prospects of the world’s second-largest capital market, according to international investment experts. “Further innovation in the future, such as enabling access to equity derivatives and other hedging tools via a connect mechanism, would be a further welcome... https://www.scmp.com/business/banking-finance/article/3197803/hong-kongs-connect-schemes-mainland-china-markets-earn-praise-calls-more-innovation-investment?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3197803/hong-kongs-connect-schemes-mainland-china-markets-earn-praise-calls-more-innovation-investment?utm_source=rss_feed Tue, 01 Nov 2022 00:30:09 +0000 China’s multi trillion-dollar asset and wealth management industry presents a big opportunity for Credit Suisse, the beleaguered Swiss investment bank seeking a makeover to overcome years of losses and management upheavals. The 166-year-old bank sees the sector as a key focus of its recently announced “radical” restructuring that aims to return it to “its core and solid foundation”, according to chairman Axel Lehmann. “Wealth management is really at the core of Credit Suisse and our overall... https://www.scmp.com/business/banking-finance/article/3197923/credit-suisse-eyes-chinas-booming-wealth-management-industry-swiss-bank-goes-back-its-roots?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3197923/credit-suisse-eyes-chinas-booming-wealth-management-industry-swiss-bank-goes-back-its-roots?utm_source=rss_feed Mon, 31 Oct 2022 23:00:19 +0000 Hong Kong never went away during the Covid-19 pandemic and “shouldn’t be so hard on itself” with regard to its perceived diminished role as a global financial hub, said a senior executive at the investment banking giant JPMorgan Chase. The city’s reputation suffered in the eyes of many in the industry, as two years of strict measures to keep the virus at bay took a huge toll on the economy and business environment, fanning an exodus of expatriates from the city and handing rival Singapore an... https://www.scmp.com/business/banking-finance/article/3197896/hong-kong-never-left-citys-status-global-finance-hub-never-faltered-during-pandemic-says-jpmorgans?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3197896/hong-kong-never-left-citys-status-global-finance-hub-never-faltered-during-pandemic-says-jpmorgans?utm_source=rss_feed Mon, 31 Oct 2022 22:00:13 +0000 Payment app AlipayHK, launched in 2017 by Ant Group, now has 3.3 million active users in Hong Kong, or nearly half the city’s population, as residents continue their journey towards a cashless society. The Hong Kong payment service also has over 100,000 merchants, Ant Group chairman and CEO Eric Jing Xiandong said in a video speech at Hong Kong’s FinTech Week on Monday. The number of users is up sharply from 2 million reported in 2019. Ant Group, whose mega IPO was suspended at the last minute... https://www.scmp.com/tech/tech-trends/article/3197906/alipay-signs-almost-half-hong-kong-population-users-payments-app-continue-cashless-journey?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3197906/alipay-signs-almost-half-hong-kong-population-users-payments-app-continue-cashless-journey?utm_source=rss_feed Mon, 31 Oct 2022 13:00:23 +0000 Hong Kong’s gradual return to normality will be on display when financial officials host the city’s biggest gathering of global banking heavyweights in three years. Restrictions were eased for inbound travellers attending the Global Financial Leaders’ Investment Summit organised by the Hong Kong Monetary Authority (HKMA) from Tuesday through Thursday, allowing attendees to meet clients and staff in private venues even if they remain under medical observation upon arrival. More importantly, the... https://www.scmp.com/business/banking-finance/article/3197878/hong-kong-kicks-hectic-november-reclaim-citys-brand-capital-markets-and-global-business?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3197878/hong-kong-kicks-hectic-november-reclaim-citys-brand-capital-markets-and-global-business?utm_source=rss_feed Mon, 31 Oct 2022 13:00:17 +0000 Hong Kong has much to offer as the world’s window into mainland China, and the global launching pad for the world’s second-largest economy, now that the city is gradually shedding the rules from three years of trying to contain the Covid-19 pandemic, bankers and financiers said. “The recent removal of quarantine policies support the long-term positioning of Hong Kong as a key financial gateway to mainland China,” said Andrew McCaffery, the chief investment officer of asset management at Fidelity... https://www.scmp.com/business/banking-finance/article/3197815/hong-kong-ready-resume-its-super-connector-role-between-china-and-world-now-covid-19-rules-are?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3197815/hong-kong-ready-resume-its-super-connector-role-between-china-and-world-now-covid-19-rules-are?utm_source=rss_feed Mon, 31 Oct 2022 07:00:10 +0000 Hong Kong is the key to success in the Greater Bay Area (GBA), the place to do business, expand and invest in China’s markets, industry leaders have said in the lead up to a major summit of senior bankers in the city. Swiss lender Julius Baer, the UK’s Standard Chartered, and the American banking giant JPMorgan are among the big international players looking to Hong Kong as their gateway for expansion in the massive economic zone. Julius Baer’s CEO Philipp Rickenbacher, one of 200 senior bankers... https://www.scmp.com/business/banking-finance/article/3197805/hong-kong-gateway-business-opportunities-greater-bay-area-say-financial-leaders?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3197805/hong-kong-gateway-business-opportunities-greater-bay-area-say-financial-leaders?utm_source=rss_feed Mon, 31 Oct 2022 05:00:19 +0000 Hong Kong’s drive to promote dim sum bonds and yuan-denominated shares will strengthen its role as the main offshore trading centre for the Chinese currency, according to bankers who will attend a key summit in the city this week. “As the world’s largest offshore yuan centre and an international financial centre, Hong Kong plays a key role in capitalising on the China opportunities,” said Bill Winters, Standard Chartered Bank’s CEO, in a written response to the Post. Winters is one of about 200... https://www.scmp.com/business/banking-finance/article/3197802/dim-sum-bonds-yuan-shares-strengthen-hong-kongs-role-biggest-offshore-trading-hub-chinese-currency?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3197802/dim-sum-bonds-yuan-shares-strengthen-hong-kongs-role-biggest-offshore-trading-hub-chinese-currency?utm_source=rss_feed Mon, 31 Oct 2022 03:30:11 +0000 Hong Kong’s finance chief has promised to do his “best” to attend a high-powered banking summit in person next week after contracting Covid-19 during an overseas investment tour, but is also preparing to take part either online or deliver pre-recorded remarks, his office has told the Post. The government is preparing to host the Global Financial Leaders’ Investment Summit, the biggest event of its kind the city will have hosted since the pandemic emerged nearly three years ago. But on Friday... https://www.scmp.com/news/hong-kong/politics/article/3197640/hong-kongs-finance-chief-vows-do-his-best-and-attend-banking-summit-person-after-contracting-covid?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3197640/hong-kongs-finance-chief-vows-do-his-best-and-attend-banking-summit-person-after-contracting-covid?utm_source=rss_feed Fri, 28 Oct 2022 10:30:46 +0000 Organisers of a major bankers’ summit to be held in Hong Kong next week have said “appropriate arrangements” will be made if needed after the city’s finance chief came down with Covid-19 on a work trip to Saudi Arabia just five days before the showpiece international event. Financial Secretary Paul Chan Mo-po had to cancel his remaining appointments in Riyadh, where he was wrapping up his six-day visit to the Middle East to source investment before he tested positive on Thursday. The government... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3197406/hong-kong-finance-chief-paul-chan-gets-covid-middle-east-work-trip-questions-raised-his-return?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3197406/hong-kong-finance-chief-paul-chan-gets-covid-middle-east-work-trip-questions-raised-his-return?utm_source=rss_feed Thu, 27 Oct 2022 04:46:24 +0000 Civil servants and volunteers will go from door to door to sign up Hong Kong’s elderly in public housing estates in three districts for Covid-19 jabs from Saturday as part of a renewed push to vaccinate high-risk groups which include a free flu shot outreach programme for secondary school students. Secretary for Health Lo Chung-mau revealed the measures on Friday in a follow-up press briefing on the policy address, as officials confirmed overseas attendees of the coming Global Financial Leaders’... https://www.scmp.com/news/hong-kong/health-environment/article/3196846/coronavirus-hong-kong-renewed-push-vaccinate-elderly-and-other-high-risk-groups?utm_source=rss_feed https://www.scmp.com/news/hong-kong/health-environment/article/3196846/coronavirus-hong-kong-renewed-push-vaccinate-elderly-and-other-high-risk-groups?utm_source=rss_feed Fri, 21 Oct 2022 13:56:00 +0000 Foreign bankers and finance executives attending Hong Kong’s biggest summit in three years will not be subject to certain pandemic restrictions for regular arrivals and will be free to eat and mingle in private settings in restaurants, two sources familiar with the matter said on Thursday. While overseas attendees of the Global Financial Leaders’ Summit, scheduled for November 1 through 3, will not be subject to the Hong Kong government’s amber code restrictions during the three-day medical... https://www.scmp.com/business/article/3196671/overseas-bankers-attending-hkma-summit-be-exempt-some-pandemic-restrictions-can-mingle-privately?utm_source=rss_feed https://www.scmp.com/business/article/3196671/overseas-bankers-attending-hkma-summit-be-exempt-some-pandemic-restrictions-can-mingle-privately?utm_source=rss_feed Thu, 20 Oct 2022 14:16:50 +0000 With a third day added to next month’s high-level finance summit, aimed at reviving the city’s mojo, the Hong Kong Monetary Authority is organising a seminar featuring heavyweights of the global finance industry. About two weeks ago Financial Secretary Paul Chan Mo-po revealed in a blog that the Global Financial Leaders’ Investment Summit would be extended to three days instead of the originally planned two days. Organised by the Hong Kong Monetary Authority (HKMA) and the Hong Kong Academy of... https://www.scmp.com/business/article/3196418/carlyle-apollo-bny-mellon-and-state-street-executives-take-part-hkma-seminar-hong-kong-finance?utm_source=rss_feed https://www.scmp.com/business/article/3196418/carlyle-apollo-bny-mellon-and-state-street-executives-take-part-hkma-seminar-hong-kong-finance?utm_source=rss_feed Tue, 18 Oct 2022 14:11:08 +0000 Bold measures to attract talent and investment to Hong Kong will be unveiled in the city leader’s maiden policy address later this month, the finance chief has revealed, while a top adviser to the government has said mainland China may relax quarantine rules for the city’s residents after its upcoming meeting. Financial Secretary Paul Chan Mo-po on Wednesday also expressed confidence that a two-day banking summit, expected to be attended by more than 100 senior executives, would be held... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3194870/hong-kong-leader-will-unveil-bold-measures-policy?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3194870/hong-kong-leader-will-unveil-bold-measures-policy?utm_source=rss_feed Wed, 05 Oct 2022 05:18:01 +0000 https://www.scmp.com/business/series/3194221/hkmas-chief-executive-talks-about-november-summit-interest-rates-and?utm_source=rss_feed https://www.scmp.com/business/series/3194221/hkmas-chief-executive-talks-about-november-summit-interest-rates-and?utm_source=rss_feed Thu, 29 Sep 2022 06:09:30 +0000 Hong Kong’s financial services sector expects the new “0+3” medical surveillance scheme for overseas arrivals to give the city a fresh start, but asserts that the government must do more ahead of a major industry summit in November. The arrangement, which takes effect from September 26, will have travellers from overseas or Taiwan stay in their own homes or hotel of their choice in the city for three days of medical surveillance, replacing the previous three-day hotel quarantine... https://www.scmp.com/business/banking-finance/article/3193694/hong-kongs-financial-services-sector-pushes-lifting-all?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3193694/hong-kongs-financial-services-sector-pushes-lifting-all?utm_source=rss_feed Sat, 24 Sep 2022 10:28:56 +0000 The top executives of banks and financial firms are expected in Hong Kong for a two-day summit being hosted by the Hong Kong Monetary Authority (HKMA), the city’s de facto central bank, in November. The executives from HSBC, Standard Chartered, Citigroup, UBS and others, are expected to endorse Hong Kong as an international financial centre. The meeting – along with the Hong Kong Sevens rugby tournament the same week – is aimed at signalling that Hong Kong is ready to reconnect with the wider... https://www.scmp.com/business/article/3192625/hsbc-standard-chartered-citigroup-and-blackrock-are-all-expected-send-top?utm_source=rss_feed https://www.scmp.com/business/article/3192625/hsbc-standard-chartered-citigroup-and-blackrock-are-all-expected-send-top?utm_source=rss_feed Thu, 15 Sep 2022 11:03:44 +0000 Hong Kong’s leader has vowed to host a “successful financial summit” for finance and tech experts in November amid stringent quarantine rules and despite the event coinciding with a mega fintech gathering in Singapore. Chief Executive John Lee Ka-chiu on Tuesday said guests were keen to attend Hong Kong international events slated for the start of November, although he stressed the city would still have to strike a balance between its Covid-19 policy and the need to boost competitiveness. “When... https://www.scmp.com/news/hong-kong/politics/article/3192283/coronavirus-hong-kong-leader-dismisses-talk-banking-summit?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3192283/coronavirus-hong-kong-leader-dismisses-talk-banking-summit?utm_source=rss_feed Tue, 13 Sep 2022 03:54:19 +0000 Hong Kong’s monetary authority will roll out the red carpet for the world’s top financiers, as it aims to reverse an exodus of financial talent from the city to reclaim its place in global finance after more than two years of Covid-19 measures. Eddie Yue Wai-man, the chief executive of the Hong Kong Monetary Authority (HKMA), has personally invited more than 100 of the world’s top bankers, fund managers and financial executives to a summit on November 1 and 2, according to three sources familiar... https://www.scmp.com/business/banking-finance/article/3181017/hong-kong-invites-global-financiers-two-day-november?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3181017/hong-kong-invites-global-financiers-two-day-november?utm_source=rss_feed Thu, 09 Jun 2022 07:17:07 +0000