https://www.scmp.com/rss/5156/feed Enoch joined the Post as a business reporter in 1996. Before that, she worked at a Chinese daily newspaper for four years. She is the author of two books: 'They Mean Business: 50 exclusive interviews with Hong Kong top executives' and 'Serving with Passion: stories of established catering brands in Hong Kong'. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Enoch Yiu Enoch Yiu On a warm Saturday in early May, the kind of day most would choose to spend on a hike or at the beach, hundreds of Hongkongers instead stood for hours in a queue at Edinburgh Tower in Central. But despite the loss of a pleasant weekend afternoon, none would be likely to consider it time wasted. They were there claim their fair share of HK$1.5 billion (US$191 million) owed to independent shareholders of Giordano International in the largest settlement on record by the city’s Securities and... https://www.scmp.com/business/banking-finance/article/3353713/hong-kong-market-regulator-takes-collection-agent-role-wronged-investors?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3353713/hong-kong-market-regulator-takes-collection-agent-role-wronged-investors?utm_source=rss_feed Sat, 16 May 2026 02:00:11 +0000 Enoch Yiu Enoch Yiu Hong Kong’s push to become a gold trading hub is beginning to bear fruit, with the city recording a surge in gold exchange-traded fund (ETF) inflows in April as geopolitical tensions fuel investor demand for the yellow metal, according to industry participants. Physically backed gold ETFs in Hong Kong attracted a record US$732 million last month, according to the World Gold Council. That represented 41 per cent of Asia’s US$1.8 billion inflows and 11 per cent of the global total of US$6.6... https://www.scmp.com/business/banking-finance/article/3353301/hong-kong-gold-push-delivers-record-us732-million-etf-inflows-april?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3353301/hong-kong-gold-push-delivers-record-us732-million-etf-inflows-april?utm_source=rss_feed Tue, 12 May 2026 12:00:43 +0000 Enoch Yiu Enoch Yiu Just over a year after the London Metal Exchange (LME) approved its first batch of warehouses in Hong Kong, the city now hosts 15 facilities run by seven operators, with close to 25,000 tonnes of metals stored. It marks a triumph for both the LME and Hong Kong’s ambition to be a commodities trading hub. But the challenge is finding sufficient space to meet surging demand, said LME CEO Matthew Chamberlain in an interview on Thursday. Chamberlain described it as a “very positive problem” – though... https://www.scmp.com/business/commodities/article/3353057/how-hong-kong-could-ease-its-positive-problem-full-metals-warehouses?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3353057/how-hong-kong-could-ease-its-positive-problem-full-metals-warehouses?utm_source=rss_feed Mon, 11 May 2026 00:00:23 +0000 Enoch Yiu Enoch Yiu To break a curse of repeated failures to launch gold futures trading, bourse operator Hong Kong Exchanges and Clearing (HKEX) should extend its trading hours and the government should offer tax incentives and establish clearing and storage facilities, according to industry players. These recommendations came as HKEX aimed to relaunch gold futures in the coming months and sought market feedback to refine the plan, Acting Secretary for Financial Services and the Treasury Joseph Chan Ho-lim told... https://www.scmp.com/business/banking-finance/article/3352903/hong-kong-prepares-gold-futures-trading-will-fourth-time-be-charm?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3352903/hong-kong-prepares-gold-futures-trading-will-fourth-time-be-charm?utm_source=rss_feed Fri, 08 May 2026 10:30:06 +0000 Julie Zhang,Enoch Yiu Julie Zhang,Enoch Yiu The Hong Kong Exchanges and Clearing (HKEX) is pressing ahead with the relaunch of gold futures as mainland China’s appetite for the metal continues to grow. The city would continue to introduce new gold products and facilities to capture the growing opportunities of the gold market, Financial Secretary Paul Chan Mo-po said on Thursday at the LME Asia Metals Seminar 2026 in Hong Kong. The HKEX planned to relaunch gold futures in coming months and seek market feedback to refine the products,... https://www.scmp.com/business/banking-finance/article/3352800/gold-futures-set-hong-kong-comeback-mainland-chinas-appetite-metal-grows?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3352800/gold-futures-set-hong-kong-comeback-mainland-chinas-appetite-metal-grows?utm_source=rss_feed Thu, 07 May 2026 14:03:11 +0000 Enoch Yiu Enoch Yiu Hong Kong is exploring the creation of a specialised mediation panel to handle international commodities disputes, as the city steps up efforts to position itself as a regional hub for metals trading, yuan-denominated commodities products and physical gold storage, Financial Secretary Paul Chan Mo-po said on Thursday. The proposed panel would focus on resolving disputes across the commodities supply chain – from mining and production to trading, warehousing and delivery – and would be developed... https://www.scmp.com/business/article/3352703/hong-kong-sharpens-commodities-hub-ambitions-mediation-and-yuan-push?utm_source=rss_feed https://www.scmp.com/business/article/3352703/hong-kong-sharpens-commodities-hub-ambitions-mediation-and-yuan-push?utm_source=rss_feed Thu, 07 May 2026 04:54:45 +0000 Enoch Yiu Enoch Yiu The share price of Hong Kong’s largest lender, HSBC, slumped on Tuesday after the bank reported worse-than-expected, broadly flat first-quarter profit as lower interest rates and provisions linked to the Middle East conflict offset solid growth in its wealth management business. Net profit for the first three months of 2026 rose 0.14 per cent year on year to US$6.94 billion, or 41 US cents per share, the London-based bank said in a Hong Kong stock exchange filing on Tuesday. The result missed... https://www.scmp.com/business/banking-finance/article/3352456/hsbc-profit-flat-middle-east-provisions-offset-wealth-growth?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3352456/hsbc-profit-flat-middle-east-provisions-offset-wealth-growth?utm_source=rss_feed Tue, 05 May 2026 06:06:17 +0000 Enoch Yiu Enoch Yiu OCBC, the second-largest banking group in Southeast Asia, has agreed to acquire HSBC’s retail and wealth management operations in Indonesia through its subsidiary, PT Bank OCBC NISP Tbk, according to the Singapore lender. The acquisition would add 336,000 customers and S$6.6 billion (US$5.17 billion) in assets under management to OCBC Indonesia, comprising S$4.3 billion of customers’ investments in mutual funds and bonds, as well as insurance policies and customer deposits of S$2.3 billion, the... https://www.scmp.com/business/article/3352432/ocbc-acquires-hsbcs-retail-and-wealth-management-indonesia?utm_source=rss_feed https://www.scmp.com/business/article/3352432/ocbc-acquires-hsbcs-retail-and-wealth-management-indonesia?utm_source=rss_feed Tue, 05 May 2026 02:23:23 +0000 Enoch Yiu Enoch Yiu The war in the Middle East could create an opening for Hong Kong to develop into a regional commodities trading hub, as manufacturers in mainland China and across Asia look to the city to secure more stable metal supplies, according to industry participants. Manufacturers importing copper, aluminium and other industrial metals were increasingly considering Hong Kong as a storage base, while also seeking to tap its financial markets to hedge against price volatility driven by geopolitical... https://www.scmp.com/business/article/3352394/middle-east-war-drives-demand-hong-kong-metal-storage-capacity-falls-short?utm_source=rss_feed https://www.scmp.com/business/article/3352394/middle-east-war-drives-demand-hong-kong-metal-storage-capacity-falls-short?utm_source=rss_feed Tue, 05 May 2026 00:00:24 +0000 Enoch Yiu Enoch Yiu Gold imports and trading have surged in Hong Kong recently as merchants and investors from the Middle East and Russia move their holdings from Dubai to the city amid the regional war, according to the Hong Kong Gold Exchange (HKGX). Since early April, some gold merchants from these regions have been selling physical gold in Hong Kong at a discount of 15 to 20 per cent to the market price, said Haywood Cheung Tak-hay, chairman of HKGX. “The discounted sales were a result of the US-Israel war with... https://www.scmp.com/business/commodities/article/3352334/gold-rush-hong-kong-sees-sudden-jump-bullion-imports-dubai-amid-us-iran-war?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3352334/gold-rush-hong-kong-sees-sudden-jump-bullion-imports-dubai-amid-us-iran-war?utm_source=rss_feed Mon, 04 May 2026 06:44:44 +0000 Enoch Yiu Enoch Yiu Hong Kong’s Exchange Fund, the war chest used to defend the local currency, reported its smallest investment gain in five quarters as the Middle East crisis weighed on stock market performance. The fund gained HK$34.5 billion (US$4.4 billion) in the first quarter, 56 per cent lower than HK$79.2 billion a year earlier, according to data released by the Hong Kong Monetary Authority (HKMA) on Monday. The fund still managed to report its fifth consecutive quarterly gain, but it was the smallest gain... https://www.scmp.com/business/markets/article/3352304/hong-kong-exchange-fund-records-smallest-gain-5-quarters-amid-middle-east-crisis?utm_source=rss_feed https://www.scmp.com/business/markets/article/3352304/hong-kong-exchange-fund-records-smallest-gain-5-quarters-amid-middle-east-crisis?utm_source=rss_feed Mon, 04 May 2026 02:12:34 +0000 Enoch Yiu Enoch Yiu Gold bars, cruises, Dior beauty services and Rosewood Hong Kong vouchers are just some of the incentives Hong Kong’s major lenders are offering in hopes of capturing wealthy clients, as visitors from mainland China descend on the city during the golden week holiday starting on Friday. HSBC, Standard Chartered and Bank of China (Hong Kong) – the city’s three biggest banks – Citigroup, DBS Hong Kong, ICBC Asia, Bank of East Asia and Hang Seng Bank have all extended the hours of certain branches on... https://www.scmp.com/business/banking-finance/article/3352097/gold-cruises-and-dior-how-hong-kong-lenders-are-enticing-wealthy-mainland-china-visitors?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3352097/gold-cruises-and-dior-how-hong-kong-lenders-are-enticing-wealthy-mainland-china-visitors?utm_source=rss_feed Fri, 01 May 2026 05:30:07 +0000 Enoch Yiu Enoch Yiu Standard Chartered’s first-quarter profit rose 19 per cent as it achieved strong wealth-management performance, which was offset by lower interest rates and rising bad debt provisions due to the Middle East conflicts. Net profit increased 19 per cent year on year in the first three months of 2026 to US$1.9 billion, or 74.2 US cents per share, from US$1.59 billion a year earlier, the bank said on Thursday. The result was better than analysts’ estimates of US$1.33 billion. The bank’s pre-tax... https://www.scmp.com/business/banking-finance/article/3351966/stanchart-profit-rises-19-wealth-management-offsets-lower-rates-and-rising-bad-loans?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3351966/stanchart-profit-rises-19-wealth-management-offsets-lower-rates-and-rising-bad-loans?utm_source=rss_feed Thu, 30 Apr 2026 06:35:33 +0000 Enoch Yiu Enoch Yiu Hong Kong’s monetary authority warned of interest-rate uncertainty amid ongoing tensions in the Middle East, after leaving its base rate unchanged on Thursday in tandem with the US Federal Reserve. The Hong Kong Monetary Authority (HKMA) said US interest-rate movements were affected by the Middle East tensions, which had led to higher oil prices and affected US inflation. Analysts said the inflationary impact of the US-Israel war with Iran had reduced the chances of a rate cut this year. “The... https://www.scmp.com/business/banking-finance/article/3351921/hkma-holds-base-interest-rate-4-following-fed-war-inflation-worries-persist?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3351921/hkma-holds-base-interest-rate-4-following-fed-war-inflation-worries-persist?utm_source=rss_feed Wed, 29 Apr 2026 23:27:32 +0000 Enoch Yiu Enoch Yiu Financial officials from Hong Kong and mainland China met on Tuesday to discuss strengthening cross-border connect schemes, according to a statement from the State Administration of Foreign Exchange (SAFE). The meeting between Hong Kong Monetary Authority (HKMA) chief executive Eddie Yue Wai-man and People’s Bank of China (PBOC) deputy governor Zhu Hexin, who is also SAFE administrator, touched on ways to bolster the city’s role as an international financial centre, the statement said. SAFE... https://www.scmp.com/business/banking-finance/article/3351828/hong-kong-mainland-china-officials-meet-bolster-cross-border-connect-schemes?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3351828/hong-kong-mainland-china-officials-meet-bolster-cross-border-connect-schemes?utm_source=rss_feed Wed, 29 Apr 2026 08:33:05 +0000 Enoch Yiu Enoch Yiu Hong Kong Exchanges and Clearing (HKEX), operator of Asia’s third-largest stock market, reported a record quarterly profit in the first three months of 2026, buoyed by more new listings and increased turnover. Net profit rose 27 per cent to HK$5.19 billion (US$662 million) – or HK$4.10 per share – from a year earlier, the company said on Wednesday. The result beat the HK$4.6 billion consensus among analysts. It is the highest quarterly profit on record, surpassing the HK$4.9 billion in the third... https://www.scmp.com/business/banking-finance/article/3351801/hkex-posts-record-quarterly-profit-topping-forecast-listings-and-turnover-surge?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3351801/hkex-posts-record-quarterly-profit-topping-forecast-listings-and-turnover-surge?utm_source=rss_feed Wed, 29 Apr 2026 05:50:25 +0000 Enoch Yiu Enoch Yiu The Middle East war has created new opportunities for family offices and private banking businesses in Hong Kong and Asia, as wealthy investors in the region seek to diversify their investments away from the conflict zone, according to industry players. Ida Liu, CEO of HSBC Private Bank, said some affluent Middle Eastern customers were diversifying into Asia. The bank is the largest wealth manager in Asia with US$1.05 trillion in wealth balances in Asia last year, up 16.3 per cent from a year... https://www.scmp.com/business/banking-finance/article/3351372/how-middle-east-war-boosting-family-offices-private-banking-hong-kong-and-asia?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3351372/how-middle-east-war-boosting-family-offices-private-banking-hong-kong-and-asia?utm_source=rss_feed Mon, 27 Apr 2026 00:00:21 +0000 Enoch Yiu Enoch Yiu Hong Kong is known for its speed. Now it is set to move even faster, with plans to shorten stock settlement times from next year – a shift that could strengthen its standing as an international financial centre. The city’s stock market has operated on a T+2 settlement cycle for more than three decades, meaning trades are completed two days after they are executed. That may soon change. Hong Kong Exchanges and Clearing (HKEX) is consulting the market on a proposal to move to a T+1 cycle, under... https://www.scmp.com/business/article/3351417/can-faster-settlement-sharpen-hong-kongs-edge-global-financial-hub?utm_source=rss_feed https://www.scmp.com/business/article/3351417/can-faster-settlement-sharpen-hong-kongs-edge-global-financial-hub?utm_source=rss_feed Sun, 26 Apr 2026 23:00:13 +0000 Enoch Yiu Enoch Yiu Life insurance sales in Hong Kong rose 50.6 per cent to another record last year as affluent customers continued to buy policies in the city for wealth transfer, protection and medical needs. The industry wrote HK$330.9 billion (US$42.2 billion) in new life policies in 2025, compared with HK$219 billion a year earlier, which was also a record, according to data from the Insurance Authority released on Friday. The continuous growth of the business in recent years was due to more wealthy people... https://www.scmp.com/business/banking-finance/article/3351327/life-insurance-sales-hong-kong-hit-record-amid-rise-millionaires?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3351327/life-insurance-sales-hong-kong-hit-record-amid-rise-millionaires?utm_source=rss_feed Fri, 24 Apr 2026 10:00:11 +0000 Enoch Yiu Enoch Yiu Hong Kong’s Securities and Futures Commission (SFC) has reached an agreement with PricewaterhouseCoopers Hong Kong (PwC HK) to pay HK$1 billion (US$128 million) in compensation to minority shareholders of China Evergrande Group, following what the regulator described as serious breaches of auditors’ professional duties. Separately, the Accounting and Financial Reporting Council (AFRC) imposed a HK$300 million fine and a six-month practice restriction on PricewaterhouseCoopers, along with HK$10... https://www.scmp.com/business/article/3351148/pwc-pay-hk1-billion-minority-shareholders-over-evergrande-audit-failures?utm_source=rss_feed https://www.scmp.com/business/article/3351148/pwc-pay-hk1-billion-minority-shareholders-over-evergrande-audit-failures?utm_source=rss_feed Thu, 23 Apr 2026 09:01:42 +0000 Enoch Yiu Enoch Yiu The bourse operators of Hong Kong and Malaysia are exploring a range of collaborations, from dual listings and exchange-traded funds (ETFs) to Islamic finance, to forge closer ties between the city and the Southeast Asian country. Hong Kong Exchanges and Clearing (HKEX) CEO Bonnie Chan Yiting and Bursa Malaysia CEO Dato Fad’l Mohamed unveiled their joint development plans in a media briefing in Hong Kong on Wednesday as HKEX hosted the 40th Asian and Oceanian Stock Exchanges Federation (AOSEF)... https://www.scmp.com/business/markets/article/3351005/hong-kong-malaysia-stock-exchanges-team-etfs-listings-islamic-finance?utm_source=rss_feed https://www.scmp.com/business/markets/article/3351005/hong-kong-malaysia-stock-exchanges-team-etfs-listings-islamic-finance?utm_source=rss_feed Wed, 22 Apr 2026 11:30:09 +0000 Enoch Yiu Enoch Yiu Mainland China’s insurance companies have emerged as major cornerstone investors in Hong Kong initial public offerings (IPOs) as they seek higher returns and benefit from Beijing’s policy support for insurers to invest in equity markets. Ping An Insurance (Group), Taikang Life Insurance, New China Life Insurance, Dajia Life Insurance and China Post Life Insurance were among the key players that invested more than US$250 million across about 11 IPOs so far this year, according to UBS data. Their... https://www.scmp.com/business/banking-finance/article/3350821/hong-kong-ipos-lure-mainland-china-insurers-seeking-higher-returns?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3350821/hong-kong-ipos-lure-mainland-china-insurers-seeking-higher-returns?utm_source=rss_feed Wed, 22 Apr 2026 00:30:08 +0000 Enoch Yiu Enoch Yiu HSBC Holdings has rejected allegations linking it to a money laundering case involving Iran, with chairman Brendan Nelson saying the bank was not a party to the matter and had only been asked to provide information. Responding to a shareholder at an informal meeting in Hong Kong on Tuesday, Nelson said HSBC had no records related to the transactions in question. “This is a case where HSBC is not a party, but in fact has only been asked to provide information relating to transactions that... https://www.scmp.com/business/article/3350911/no-records-no-role-hsbc-rejects-iran-linked-money-laundering-claim?utm_source=rss_feed https://www.scmp.com/business/article/3350911/no-records-no-role-hsbc-rejects-iran-linked-money-laundering-claim?utm_source=rss_feed Tue, 21 Apr 2026 12:36:35 +0000 Zhang Shidong,Enoch Yiu Zhang Shidong,Enoch Yiu The US-Israeli war on Iran has unleashed sharp swings across global energy and financial markets, fuelling demand for safe-haven assets, with Hong Kong emerging as a potential beneficiary across gold, property and capital markets. In the third of a three-part series, we look at Hong Kong’s position as a stable base where demand for property has held firm despite the global turmoil. The seven-week military conflict in the Middle East will redefine Hong Kong’s role as a global financial centre,... https://www.scmp.com/business/china-business/article/3350634/hong-kong-reasserts-role-safe-haven-global-finance-amid-middle-east-turmoil?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3350634/hong-kong-reasserts-role-safe-haven-global-finance-amid-middle-east-turmoil?utm_source=rss_feed Mon, 20 Apr 2026 02:30:10 +0000 Enoch Yiu Enoch Yiu Global retail investors have pulled back into cash amid uncertainties from Middle East conflicts, while high-net-worth clients have continued to pursue investment opportunities in Asia and alternative assets, according to the CEO of Schroders. “What we saw in March was a reversal of the trend that we had seen at the end of 2025 and in January and February, when people increased their interest in investing in stocks,” said Richard Oldfield, global CEO of Schroders. “What really happened in March... https://www.scmp.com/business/banking-finance/article/3350531/global-retail-investors-shift-cash-asia-still-draws-wealthy-clients-schroders-ceo?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3350531/global-retail-investors-shift-cash-asia-still-draws-wealthy-clients-schroders-ceo?utm_source=rss_feed Sun, 19 Apr 2026 23:30:10 +0000 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 For Hong Kong’s 3.3 million PayMe users, everyday transactions such as buying coffee or splitting bills with friends could soon involve stablecoins, with HSBC preparing to introduce the digital currency in the second half of this year. That comes after HSBC Holdings, together with a Standard Chartered-led joint venture, became the first to obtain a stablecoin issuer licence from the Hong Kong Monetary Authority on Friday, marking a breakthrough in the city’s digital finance development. HSBC,... https://www.scmp.com/business/banking-finance/article/3350089/how-paymes-33-million-users-and-hong-kong-firms-could-start-using-stablecoins?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3350089/how-paymes-33-million-users-and-hong-kong-firms-could-start-using-stablecoins?utm_source=rss_feed Wed, 15 Apr 2026 00:00:37 +0000 Enoch Yiu Enoch Yiu Artificial intelligence, the expansion of Asia’s middle class and continued trade growth are set to underpin global economic expansion despite prolonged conflict involving Iran, according to the chairman of HSBC Holdings. Hong Kong was expected to play a central role in that trajectory, given its status as a wealth management hub, trading centre and key connector between mainland China and global markets, Brendan Nelson said at the bank’s Global Investment Summit on Tuesday. The lender’s... https://www.scmp.com/business/article/3349987/ai-middle-class-and-trade-drive-global-growth-despite-iran-conflict-hsbc-chairman?utm_source=rss_feed https://www.scmp.com/business/article/3349987/ai-middle-class-and-trade-drive-global-growth-despite-iran-conflict-hsbc-chairman?utm_source=rss_feed Tue, 14 Apr 2026 04:04:09 +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 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 Enoch Yiu Enoch Yiu HSBC and a joint venture led by Standard Chartered have been awarded Hong Kong’s first stablecoin issuer licences, marking the city’s latest step towards embracing cryptocurrency’s most-traded cash substitute in its bid to become a global digital asset hub. Eight months after Hong Kong’s Stablecoin Ordinance, one of the world’s first such laws, took effect, HSBC and Anchorpoint Financial, the Standard Chartered-led group, received the green light from the Hong Kong Monetary Authority (HKMA) on... https://www.scmp.com/business/cryptocurrency/article/3349644/hong-kong-awards-stablecoin-licences-hsbc-stanchart-led-group-long-awaited-roll-out?utm_source=rss_feed https://www.scmp.com/business/cryptocurrency/article/3349644/hong-kong-awards-stablecoin-licences-hsbc-stanchart-led-group-long-awaited-roll-out?utm_source=rss_feed Fri, 10 Apr 2026 09:09:55 +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 More companies are using Hong Kong as a platform to tap yuan funds to finance their operations, thanks to the city’s active capital market and a new 200 billion yuan (US$28.68 billion) liquidity facility that provides steady, cheap yuan funding, according to a Standard Chartered report on Wednesday. Among companies that have yuan exposure, about 24 per cent said they would like to increase yuan financing over the next three years, according to Standard Chartered, citing the results of a survey... https://www.scmp.com/business/banking-finance/article/3349396/more-global-firms-eye-hong-kong-cheaper-yuan-loans-bonds-stanchart?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3349396/more-global-firms-eye-hong-kong-cheaper-yuan-loans-bonds-stanchart?utm_source=rss_feed Wed, 08 Apr 2026 10:30:47 +0000 Enoch Yiu Enoch Yiu UK lender Barclays plans to continue growing its investment bank in Hong Kong, using the city as a platform to capture the growing fundraising needs in Asia and the rising opportunities from the internationalisation of the yuan, according to its global CEO. “Asia and Hong Kong are very important areas for us,” said C.S. Venkatakrishnan, global CEO of Barclays, in an interview with the South China Morning Post during a recent visit to the city. “In Hong Kong, our investment banking team is... https://www.scmp.com/business/banking-finance/article/3349118/barclays-boosts-hong-kong-presence-tap-thriving-ipo-market-global-ceo-says?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3349118/barclays-boosts-hong-kong-presence-tap-thriving-ipo-market-global-ceo-says?utm_source=rss_feed Wed, 08 Apr 2026 00:00:09 +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 Enoch Yiu Enoch Yiu Manulife, HSBC Holdings and Barclays are among the big financial firms that have announced plans to boost their adoption of artificial intelligence, in line with the Hong Kong government’s efforts to promote the use of the technology. Manulife last week said it had relocated Mark Czajkowski, chief AI officer for Asia, to Hong Kong from Singapore, and had appointed Liu Hongjuan as chief AI and data officer of Manulife Hong Kong and Macau, a newly created post, on March 9. HSBC Holdings, the... https://www.scmp.com/business/banking-finance/article/3348897/manulife-hsbc-barclays-among-big-finance-firms-pushing-ai-adoption-hong-kong?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3348897/manulife-hsbc-barclays-among-big-finance-firms-pushing-ai-adoption-hong-kong?utm_source=rss_feed Fri, 03 Apr 2026 09:00:08 +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 Enoch Yiu Enoch Yiu Hong Kong has retained its top position in terms of initial public offering (IPO) funds raised in the first quarter of this year but industry experts said the city could lose its lead to the US over the full year given the number of mega IPOs expected there, from OpenAI to Elon Musk’s SpaceX. A total of 37 companies raised about US$13.26 billion on the Hong Kong stock exchange’s main board in the three months ended March 31, according to data released on Tuesday by LSEG Data and Analytics. That... https://www.scmp.com/business/banking-finance/article/3348536/hong-kong-retains-global-ipo-crown-first-quarter-faces-us-mega-listings?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3348536/hong-kong-retains-global-ipo-crown-first-quarter-faces-us-mega-listings?utm_source=rss_feed Tue, 31 Mar 2026 11:30:12 +0000 Enoch Yiu Enoch Yiu Hong Kong will roll out a fully digital, paperless stock market from November 16, a move aimed at boosting efficiency and strengthening the city’s competitiveness, the market regulator said on Monday. About 2,600 listed companies will transition to the new system in phases over five years after the launch, while firms going public after November 16 would no longer issue physical share certificates, according to the Securities and Futures Commission (SFC). Investors will still be able to retain... https://www.scmp.com/business/article/3348437/hong-kong-turns-page-paper-shares-digital-shift-kicks-november?utm_source=rss_feed https://www.scmp.com/business/article/3348437/hong-kong-turns-page-paper-shares-digital-shift-kicks-november?utm_source=rss_feed Mon, 30 Mar 2026 13:30:11 +0000 Enoch Yiu Enoch Yiu The University of Hong Kong (HKU) will begin a roadshow this week to gauge investor interest in a landmark bond programme that could raise up to HK$3 billion (US$385 million) to fund its planned expansion in the Northern Metropolis, according to people familiar with the matter. Scores of banks, insurance and pension companies and fund managers were invited to attend roadshows arranged by bankers including HSBC Holdings over the coming days, one source told the South China Morning Post on... https://www.scmp.com/business/article/3348432/hku-eyes-us385-million-bond-fund-northern-metropolis-expansion?utm_source=rss_feed https://www.scmp.com/business/article/3348432/hku-eyes-us385-million-bond-fund-northern-metropolis-expansion?utm_source=rss_feed Mon, 30 Mar 2026 12:30:38 +0000 Enoch Yiu Enoch Yiu Bank of China (Hong Kong), one of three note-issuing banks in the city, reported a modest 5 per cent growth in net profit last year, as exposure to the troubled mainland property sector offset its strong performance in the wealth business. The lender reported a net profit of HK$40.12 billion (US$5.14 billion), or HK$3.7947 per share, compared with HK$38.23 billion a year earlier, according to a stock exchange filing on Monday. The results beat analysts’ estimates of HK$39.3 billion. BOCHK, the... https://www.scmp.com/business/banking-finance/article/3348398/bochk-reports-5-net-profit-growth-bad-debt-exposure-china-offsets-strong-fee-income?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3348398/bochk-reports-5-net-profit-growth-bad-debt-exposure-china-offsets-strong-fee-income?utm_source=rss_feed Mon, 30 Mar 2026 09:45:09 +0000 Enoch Yiu Enoch Yiu Hong Kong retained its position as Asia’s top financial centre and ranked third globally, while also leading in fintech, banking and insurance, according to the latest Global Financial Centres Index released on Thursday. The twice-yearly report assessed the competitiveness of 120 financial markets. Hong Kong scored 756 points, just one point behind London and two points shy of top-ranked New York, while edging Singapore by a single point. The index is compiled by Z/Yen Group and the China... https://www.scmp.com/business/article/3348034/hong-kong-holds-no-3-ranking-global-capital-hub-amid-market-volatility?utm_source=rss_feed https://www.scmp.com/business/article/3348034/hong-kong-holds-no-3-ranking-global-capital-hub-amid-market-volatility?utm_source=rss_feed Thu, 26 Mar 2026 12:35:28 +0000 Enoch Yiu Enoch Yiu Indonesian gold miner PT Merdeka Gold Resources has applied for a Hong Kong listing as it seeks to broaden its international investor base, in a move brokers see as a boost to Hong Kong Exchanges and Clearing’s (HKEX) efforts to attract more international companies and diversify its pipeline. The listing application was intended to “broaden the company’s access to international investors, enhance share liquidity and provide greater flexibility in raising capital to support future growth”,... https://www.scmp.com/business/article/3347958/gold-rally-drives-merdekas-hong-kong-ipo-plan-hkex-courts-global-issuers?utm_source=rss_feed https://www.scmp.com/business/article/3347958/gold-rally-drives-merdekas-hong-kong-ipo-plan-hkex-courts-global-issuers?utm_source=rss_feed Thu, 26 Mar 2026 06:11:30 +0000 Enoch Yiu Enoch Yiu The former managing director and chief China economist of bourse operator Hong Kong Exchanges and Clearing (HKEX), Ba Shusong, has not appeared in public recently and could not be contacted, according to two sources familiar with the situation. Ba is important academic who frequently gave speeches at major conferences over the past decade on behalf of HKEX, speaking about Hong Kong’s role as a connector between mainland China and the world. Mainland media outlets reported that Ba was missing,... https://www.scmp.com/business/markets/article/3347879/former-hong-kong-exchange-executive-ba-shusong-reported-out-public-sight?utm_source=rss_feed https://www.scmp.com/business/markets/article/3347879/former-hong-kong-exchange-executive-ba-shusong-reported-out-public-sight?utm_source=rss_feed Wed, 25 Mar 2026 10:30:21 +0000 Enoch Yiu Enoch Yiu Hong Kong Investment Corporation (HKIC), the government’s investment arm, has teamed up with venture capital firm Gobi Partners and the University of Hong Kong (HKU) to launch a fund on Tuesday to invest in technology start-ups spun off from the university’s research breakthroughs, according to an HKIC statement. Gobi-HKU Fund I made two investments at its launch: Manifold Tech, which develops spatial intelligence for robotics, and AilsynBio, which focuses on artificial intelligence-driven drug... https://www.scmp.com/business/banking-finance/article/3347689/hkic-gobi-partners-and-hku-team-fund-backing-university-research-start-ups?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347689/hkic-gobi-partners-and-hku-team-fund-backing-university-research-start-ups?utm_source=rss_feed Tue, 24 Mar 2026 07:21:49 +0000 Enoch Yiu Enoch Yiu The electronic platform of the Mandatory Provident Fund (eMPF) will cut administration fees for 378 investment funds by more than 21 per cent from April 1, the pension regulator said on Tuesday, adding that this will achieve its cost-saving target of HK$50 billion (US$6.4 billion) in less than 10 years. Financial Secretary Paul Chan Mo-po approved the reduction, which would lower administration costs from 0.37 per cent to 0.29 per cent of assets under management, representing a 21.6 per cent fee... https://www.scmp.com/business/banking-finance/article/3347671/hong-kongs-empf-cut-fees-216-april-saving-us64-billion-10-years?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347671/hong-kongs-empf-cut-fees-216-april-saving-us64-billion-10-years?utm_source=rss_feed Tue, 24 Mar 2026 05:06:37 +0000 Ann Cao,Enoch Yiu Ann Cao,Enoch Yiu Last week, Hong Kong Investment Corporation (HKIC) announced the establishment of the Hong Kong RISC-V Alliance. The move follows Financial Secretary Paul Chan Mo-po’s earlier pledge to actively promote collaboration among industry, academia and the investment sector to develop the open-source chip technology. In this explainer, the South China Morning Post takes a closer look at RISC-V, why it is important and why HKIC is interested. What is RISC-V technology? RISC-V, an open-standard... https://www.scmp.com/tech/tech-trends/article/3347614/why-hong-kong-betting-risc-v-build-global-open-source-chip-hub?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3347614/why-hong-kong-betting-risc-v-build-global-open-source-chip-hub?utm_source=rss_feed Tue, 24 Mar 2026 00:30:08 +0000 Enoch Yiu Enoch Yiu JPMorgan Chase plans to expand its corporate banking team by about 10 per cent across Asia-Pacific this year, as its plans in the region will not be slowed down by uncertainties arising from the US-Israel war on Iran, according to a senior executive. The hiring campaign was part of the lender’s longer-term plan, which aimed to increase its headcount in the region by 40 per cent between 2023 and 2026, said James Roddy, head of global corporate banking. The corporate banking business in... https://www.scmp.com/business/banking-finance/article/3347354/jpmorgan-expand-asia-pacific-team-10-year-undeterred-middle-east-conflict?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347354/jpmorgan-expand-asia-pacific-team-10-year-undeterred-middle-east-conflict?utm_source=rss_feed Mon, 23 Mar 2026 00:30:15 +0000 Enoch Yiu Enoch Yiu Hong Kong Exchanges and Clearing (HKEX) last week proposed its biggest set of listing reforms since 2018 for Asia’s third-largest stock exchange. Delivered in a consultation paper, the reforms aim to further improve the competitiveness of the exchange that topped the world rankings for initial public offerings (IPOs) last year. The bourse operator will collect views on the proposals, which include broadening a special listing regime for innovative companies and opening the door for listings by... https://www.scmp.com/business/markets/article/3347324/should-hong-kongs-stock-exchange-make-all-ipo-applications-confidential?utm_source=rss_feed https://www.scmp.com/business/markets/article/3347324/should-hong-kongs-stock-exchange-make-all-ipo-applications-confidential?utm_source=rss_feed Sat, 21 Mar 2026 01:30:15 +0000