https://www.scmp.com/rss/517735/feed The latest news, analysis and opinion on Citigroup. In-depth analysis, industry insights and expert opinion. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Xinyi Wu Xinyi Wu The business executives accompanying US President Donald Trump on his state visit to Beijing this week are the wealthiest such delegation to visit China – holding a combined personal net worth of over US$1 trillion – an indication of continued interest in the country’s lucrative market despite strained bilateral ties. With Nvidia CEO Jensen Huang’s last-minute addition to the delegation, 17 executives from the technology, finance, aerospace and semiconductor sectors have joined Trump, who landed... https://www.scmp.com/economy/china-economy/article/3353490/trumps-trillion-dollar-business-delegation-looking-make-deals-china?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3353490/trumps-trillion-dollar-business-delegation-looking-make-deals-china?utm_source=rss_feed Thu, 14 May 2026 01:57:44 +0000 Cheryl Arcibal Cheryl Arcibal Office rents in Hong Kong’s Central district are expected to rise faster in the second quarter of the year, according to analysts, a reversal of a multi-year slump that began in the second half of 2019. The latest forecast was made by US bank Citi, which said premium offices in the city’s main business zone had seen rents rise 1.7 per cent from a trough in October, with room for further increments between the second half this year and 2027. “Lease negotiation dynamics had started to favour... https://www.scmp.com/business/article/3353468/hong-kongs-central-office-rents-set-reverse-multi-year-slump-gains-second-half?utm_source=rss_feed https://www.scmp.com/business/article/3353468/hong-kongs-central-office-rents-set-reverse-multi-year-slump-gains-second-half?utm_source=rss_feed Wed, 13 May 2026 23:00:05 +0000 Kandy Wong,Ji Siqi,Ralph Jennings Kandy Wong,Ji Siqi,Ralph Jennings Beyond high-profile names like Apple’s Tim Cook, a number of lesser-known CEOs joining US President Donald Trump on his trip to China this week represent industries caught in the crossfire of the trade war, analysts said, and are expected to push for deeper engagement rather than risk becoming a “geopolitical football”. Seventeen American CEOs have been invited in total, according to a list released by the White House on Monday – a smaller business delegation than in 2017, when 27 high-profile... https://www.scmp.com/economy/global-economy/article/3353312/trumps-cadre-ceos-hunts-wins-china-soybeans-semiconductors?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353312/trumps-cadre-ceos-hunts-wins-china-soybeans-semiconductors?utm_source=rss_feed Tue, 12 May 2026 13:34:22 +0000 William Zheng William Zheng US business leaders accompanying President Donald Trump on his state visit to Beijing will be given the opportunity to mingle with their Chinese counterparts at an exclusive international business club, according to sources. On Monday, the White House released a list naming dozens of business chiefs accompanying Trump, including high-profile figures such as Tesla chief executive Elon Musk and Apple’s Tim Cook. Two sources familiar with the arrangement said the Capital Club Beijing had been... https://www.scmp.com/news/china/diplomacy/article/3353283/trump-visit-opens-door-casual-networking-between-us-and-chinese-business-chiefs?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3353283/trump-visit-opens-door-casual-networking-between-us-and-chinese-business-chiefs?utm_source=rss_feed Tue, 12 May 2026 10:02:46 +0000 Kandy Wong,Frank Chen Kandy Wong,Frank Chen The administration of US President Donald Trump is inviting American CEOs from Boeing, Mastercard, Citigroup and other major corporations to join his delegation to China next week, according to multiple sources. Trump is visiting China on May 14 and 15 after his scheduled visit for March 31 was postponed following the US-Israeli strikes on Iran. Boeing, Mastercard and Citigroup declined to comment, but sources said several CEOs had received invitations from the White House. A full list of... https://www.scmp.com/economy/global-economy/article/3352883/trump-invites-boeing-mastercard-ceos-join-china-trip-next-week-sources?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3352883/trump-invites-boeing-mastercard-ceos-join-china-trip-next-week-sources?utm_source=rss_feed Fri, 08 May 2026 08:31:53 +0000 Zhang Shidong Zhang Shidong CK Hutchison Holdings’ disposal of its investment in UK’s biggest mobile phone operator has spurred speculation that the Li Ka-shing family-controlled conglomerate may channel part of the investment gain into dividends for shareholders. The sale of its 49 per cent stake in VodafoneThree would fetch a net gain of HK$4.7 billion (US$600 million), and if CK Hutchison reserved 40 per cent of the proceeds for payouts – as it has done on similar occasions – it would boost dividends by HK$0.50 per... https://www.scmp.com/business/china-business/article/3352620/ck-hutchisons-vodafonethree-exit-sparks-dividend-speculation-analysts-are-split?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3352620/ck-hutchisons-vodafonethree-exit-sparks-dividend-speculation-analysts-are-split?utm_source=rss_feed Wed, 06 May 2026 09:45:19 +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 Yulu Ao Yulu Ao Shares of WuXi AppTec surged both on the mainland and in Hong Kong after stronger-than-expected quarterly results lifted sentiment across the contract research and innovative drug sectors. The pharmaceutical company’s Shanghai-listed shares rose by their daily limit of 10 per cent to close at 110.57 yuan on Tuesday, while its Hong Kong shares ended 14 per cent higher at HK$143.10, the highest since December 2021. The gains followed the company’s market-beating first-quarter earnings released... https://www.scmp.com/business/china-business/article/3351706/wuxi-apptec-shares-surge-14-hong-kong-after-record-first-quarter-earnings?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3351706/wuxi-apptec-shares-surge-14-hong-kong-after-record-first-quarter-earnings?utm_source=rss_feed Tue, 28 Apr 2026 09:27:48 +0000 Julie Zhang Julie Zhang The State Council, China’s cabinet, has published guidelines on innovative drug pricing that a bank analyst has described as the “most significant” in a decade, as they aim to reward drug innovation and ease pricing tension for domestic and multinational pharmaceutical companies. The framework document published this month said patented innovative drugs would be supported through value-based pricing, while the prices of generic drugs would be driven down through market competition and... https://www.scmp.com/business/banking-finance/article/3350956/multinational-pharmaceutical-companies-benefit-new-china-guidelines-analysts?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3350956/multinational-pharmaceutical-companies-benefit-new-china-guidelines-analysts?utm_source=rss_feed Wed, 22 Apr 2026 05:00:09 +0000 Julie Zhang Julie Zhang A quarter featuring multiple eye-popping deals is no longer unusual for China’s pharmaceutical industry – in fact, it may soon be considered a slow season. In recent months, companies including CSPC Pharmaceutical and RemeGen have struck out-licensing agreements worth up to US$18.5 billion and US$5.6 billion respectively, while Haisco Pharmaceutical Group has added two of its own — most recently a deal worth up to US$745 million. Under the terms of the deal, the Beijing-based Haisco granted US... https://www.scmp.com/business/china-business/article/3350421/chinas-biotech-firms-shift-gears-can-ai-floor-accelerator?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3350421/chinas-biotech-firms-shift-gears-can-ai-floor-accelerator?utm_source=rss_feed Sat, 18 Apr 2026 03:00:12 +0000 Lam Ka-sing Lam Ka-sing With various Hong Kong industries battered by the world’s highest petrol and diesel prices, economists and business leaders predict the oil crisis caused by the Middle East war will trigger a wave of imported inflation, driving up the cost of items ranging from toilet paper and laundry services to asphalt. Analysts have warned that the adverse impact on inflation will be more immediate than the effect on economic growth, with some saying the repercussions will emerge in the third and fourth... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349816/toilet-paper-travel-why-inflation-could-soon-hit-hongkongers-hard?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349816/toilet-paper-travel-why-inflation-could-soon-hit-hongkongers-hard?utm_source=rss_feed Mon, 13 Apr 2026 00:30:11 +0000 Yulu Ao Yulu Ao China’s six largest state-owned banks are set to distribute more than 420 billion yuan (US$61 billion) in dividends for 2025, extending record-high payouts and strengthening their appeal as a source of stable income as investors rotate into defensive assets amid low interest rates. Combined payouts from Industrial and Commercial Bank of China (ICBC), China Construction Bank (CCB), Agricultural Bank of China, Bank of China, Bank of Communications and Postal Savings Bank of China were expected to... https://www.scmp.com/business/china-business/article/3349184/icbc-and-ccb-lead-chinas-six-biggest-banks-us61b-dividend-payout?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3349184/icbc-and-ccb-lead-chinas-six-biggest-banks-us61b-dividend-payout?utm_source=rss_feed Tue, 07 Apr 2026 02:30:08 +0000 Daniel Ren Daniel Ren Transactions of pre-owned homes in major Chinese cities led by Shanghai surged in March, fuelling expectations that the country’s embattled property sector may be stabilising. Analysts and brokers said a more active resale market pointed to a gradual return of confidence among homebuyers after a three-year downturn. In Shanghai, about 22,000 second-hand homes changed hands between March 1 and 23, up 170 per cent from the same period a month earlier, according to data from local financial outlet... https://www.scmp.com/business/banking-finance/article/3348255/rising-second-hand-home-sales-offer-tentative-signs-floor-chinas-property-slump?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3348255/rising-second-hand-home-sales-offer-tentative-signs-floor-chinas-property-slump?utm_source=rss_feed Sun, 29 Mar 2026 06:00:34 +0000 Zhang Shidong Zhang Shidong Chinese stocks have emerged as outperformers in the latest oil shock, reversing their reputation as laggards, as crude takes a back seat to renewable fuels in the world’s second-largest economy. The CSI 300 Index of stocks trading on the mainland’s exchanges has dropped 3.1 per cent since the US and Israel began attacks on Iran on February 28, outperforming the S&P 500, the Euro Stoxx 50 and Japan’s Nikkei 225, which have all slid at least 4 per cent during the period. This marked a turnaround... https://www.scmp.com/business/china-business/article/3347296/chinese-stocks-shake-laggard-image-amid-oil-shock-green-transition-pays?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3347296/chinese-stocks-shake-laggard-image-amid-oil-shock-green-transition-pays?utm_source=rss_feed Fri, 20 Mar 2026 08:15:30 +0000 Enoch Yiu Enoch Yiu HSBC Holdings plans to raise US$2.5 billion by issuing two tranches of additional tier-1 (AT1) bonds, marking the reopening of such offerings after the US and Israel war on Iran rattled global financial markets. The biggest lender in Hong Kong and Europe by assets said in a stock exchange filing before the market opened on Wednesday that it intended to issue the AT1 bonds, officially named perpetual subordinated contingent convertible securities, on March 24 to strengthen its capital. The... https://www.scmp.com/business/banking-finance/article/3346960/hsbc-launches-us25-billion-at1-bond-issue-hong-kong-after-market-standstill?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3346960/hsbc-launches-us25-billion-at1-bond-issue-hong-kong-after-market-standstill?utm_source=rss_feed Wed, 18 Mar 2026 04:29:44 +0000 Peggy Ye Peggy Ye Escalating tensions in the Middle East could redirect global wealth flows and support demand for Hong Kong property, as investors seek stable financial hubs amid rising geopolitical uncertainty, analysts say. The shift comes as global wealth migration increasingly reshapes luxury property markets from Sydney to Dubai and Hong Kong. Citigroup said in a report released on Monday that prolonged instability in the region could prompt capital and talent to move out of the Middle East. The report said... https://www.scmp.com/business/banking-finance/article/3346217/hong-kong-property-could-gain-middle-east-turmoil-reshapes-global-wealth-flows?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3346217/hong-kong-property-could-gain-middle-east-turmoil-reshapes-global-wealth-flows?utm_source=rss_feed Wed, 11 Mar 2026 09:00:08 +0000 Aileen Chuang Aileen Chuang Private equity and other investment firms remain broadly optimistic about deploying capital in acquisitions and initial public offerings (IPOs) globally, supported by ample dry powder and diversification efforts while keeping a close eye on geopolitics, according to senior investment bankers. As geopolitical uncertainty had become a constant factor in the global market in recent years, “we are broadly optimistic about the opportunities”, Ashu Khullar, head of global asset managers at Citigroup,... https://www.scmp.com/business/banking-finance/article/3345981/investment-firms-remain-upbeat-deals-despite-geopolitical-tensions-bankers-say?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3345981/investment-firms-remain-upbeat-deals-despite-geopolitical-tensions-bankers-say?utm_source=rss_feed Mon, 09 Mar 2026 09:45:08 +0000 Peggy Ye Peggy Ye Global investment banks are rallying behind a more bullish view of Hong Kong’s housing market, with JPMorgan Chase and Goldman Sachs joining Morgan Stanley in forecasting double-digit price gains after a stronger-than-expected rebound. Morgan Stanley was the first major bank to forecast a 10 per cent increase in home prices in January, which was widely seen as aggressive at the time. With fresh data bolstering signs of a recovery, other banks have also lifted their 2026 estimates. According to a... https://www.scmp.com/business/article/3344361/more-banks-catch-hong-kongs-housing-rebound-upgrade-market-forecast?utm_source=rss_feed https://www.scmp.com/business/article/3344361/more-banks-catch-hong-kongs-housing-rebound-upgrade-market-forecast?utm_source=rss_feed Mon, 23 Feb 2026 23:30:08 +0000 John Cremer John Cremer As geopolitical volatility reshapes global commerce, Citi is positioning its vast international network as the critical infrastructure for companies navigating an increasingly complex world. Leading this effort since September 2023 is Ernesto Torres Cantú, Citi’s Head of International, responsible for delivering Citi’s offerings to clients outside North America. With operations spanning more than 180 countries and jurisdictions – including a presence in 93 markets where it maintains... https://www.scmp.com/presented/business/topics/c-suite-game-changers/article/3344331/banking-200-years-cross-border-expertise?utm_source=rss_feed https://www.scmp.com/presented/business/topics/c-suite-game-changers/article/3344331/banking-200-years-cross-border-expertise?utm_source=rss_feed Mon, 23 Feb 2026 22:00:13 +0000 Enoch Yiu Enoch Yiu Thousands of Hong Kong bank employees will receive a return-to-work lai see on Friday, with some banks handing out extra benefits and gifts to their staff amid improving economic and market sentiment. While it is a Chinese tradition for companies to give their staff lai see on the first working day of the Lunar New Year as a token of appreciation for their hard work, many banks nowadays give their staff lai see and other goodies before the holiday. Bank of China (Hong Kong) is giving each of its... https://www.scmp.com/business/banking-finance/article/3343890/hong-kong-banks-reward-staff-gifts-extra-holiday-and-lai-see-they-return-work?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3343890/hong-kong-banks-reward-staff-gifts-extra-holiday-and-lai-see-they-return-work?utm_source=rss_feed Thu, 19 Feb 2026 23:00:08 +0000 Zhu Wenqian Zhu Wenqian In the run-up to Lunar New Year, Chinese consumers were busy choosing gold jewellery, a traditional gift with deep cultural connotations, as strong market sentiment overshadowed sharp fluctuations in gold prices and assessments of the sector’s outlook by investment banks remained upbeat. Jewellers offered small discounts to boost holiday sales. For example, Chow Tai Fook Jewellery Group, China’s largest retailer by store count, launched an 80 yuan (US$12) discount per gram on gold items in its... https://www.scmp.com/business/commodities/article/3343782/strong-lunar-new-year-demand-fuels-chinas-gold-jewellery-market?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3343782/strong-lunar-new-year-demand-fuels-chinas-gold-jewellery-market?utm_source=rss_feed Tue, 17 Feb 2026 06:00:15 +0000 Enoch Yiu Enoch Yiu Gold, mahjong sets, fancy lai see packets and dinners with fireworks views are among the incentives Hong Kong banks are using to lure wealthy customers from the city and the mainland during the Lunar New Year, which kicks off on Tuesday. Hong Kong authorities estimated that as many as 1.43 million mainland visitors would cross the border during the holiday period, up 6 per cent from a year earlier. The Year of the Horse begins on Tuesday, but the mainland holiday started on Sunday and ends on... https://www.scmp.com/business/banking-finance/article/3343663/hong-kong-banks-lure-wealthy-clients-gold-mahjong-sets-fireworks-during-holiday?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3343663/hong-kong-banks-lure-wealthy-clients-gold-mahjong-sets-fireworks-during-holiday?utm_source=rss_feed Mon, 16 Feb 2026 05:00:09 +0000 Cao Li Cao Li China’s commercial real estate stress will force some Hong Kong banks with significant exposure to the sector to set aside additional reserves for potentially higher non-performing loans, which could weigh on their second-half 2025 earnings, according to Citi. In a report on Tuesday, Citi Research said Bank of China (Hong Kong) (BOCHK), the Hong Kong subsidiary of state-owned Bank of China, and Bank of East Asia (BEA) had the highest exposure to China’s commercial real estate, which is under... https://www.scmp.com/business/banking-finance/article/3343080/chinas-property-woes-likely-hurt-some-hong-kong-banks-2025-earnings-citi?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3343080/chinas-property-woes-likely-hurt-some-hong-kong-banks-2025-earnings-citi?utm_source=rss_feed Tue, 10 Feb 2026 11:28:24 +0000 Aileen Chuang Aileen Chuang The mergers and acquisitions (M&A) market is expected to have its best year ever, with artificial intelligence dominating activity despite recent volatility in technology stocks and broader jitters across assets, according to senior investment bankers at Citigroup. Market participants worldwide faced a repricing in the digital economy and a wave of sell-offs across tech stocks, commodities and cryptocurrencies last week as investors grappled with the implications of AI. However, the turmoil... https://www.scmp.com/business/banking-finance/article/3342869/ma-market-firing-all-cylinders-headed-record-year-citigroup-says?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3342869/ma-market-firing-all-cylinders-headed-record-year-citigroup-says?utm_source=rss_feed Mon, 09 Feb 2026 03:30:13 +0000 Cao Li,Yulu Ao Cao Li,Yulu Ao When Malaysian civil engineering contractor BBSB International listed in Hong Kong last month, its offering was oversubscribed by a factor of nearly 11,000, and its shares rose more than fivefold from their offer price of HK$0.60 on the morning of their trading debut. BBSB is one of several non-Chinese companies that have flocked to Hong Kong to list recently, and banks expect more to follow this year as the city’s initial public offering (IPO) market booms. While New York and London used to be... https://www.scmp.com/business/article/3342363/vibrant-hong-kong-market-attract-more-listings-abroad-bankers-say?utm_source=rss_feed https://www.scmp.com/business/article/3342363/vibrant-hong-kong-market-attract-more-listings-abroad-bankers-say?utm_source=rss_feed Wed, 04 Feb 2026 08:45:36 +0000 Yulu Ao Yulu Ao Labubu toymaker Pop Mart plans to establish its European headquarters in London, as UK Prime Minister Keir Starmer met the company’s founder during a high-profile China visit aimed at rebuilding Britain’s economic ties with the world’s second largest economy. That plan was revealed at a closed-door CEO round table on Friday during the UK-China Business Forum, where Starmer met a group of Chinese business leaders that included Pop Mart founder and CEO Wang Ning. “London stands at the heart of the... https://www.scmp.com/business/china-business/article/3341948/labubu-toymaker-pop-mart-picks-london-european-headquarters-rolls-out-new-stores?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3341948/labubu-toymaker-pop-mart-picks-london-european-headquarters-rolls-out-new-stores?utm_source=rss_feed Sat, 31 Jan 2026 11:30:11 +0000 Enoch Yiu Enoch Yiu Investment bankers in Asia are set for their best payday since 2021, with UBS, Citigroup and Morgan Stanley raising bonuses by an average of 20 per cent, according to people familiar with the lenders’ plans. The fat cheques follow higher revenues powered by robust initial public offering (IPO) activity, vibrant stock and bond markets, and a steady flow of mergers and acquisitions in 2025. Representatives for UBS, Citigroup and Morgan Stanley declined to comment when reached by the... https://www.scmp.com/business/banking-finance/article/3341062/ubs-citigroup-morgan-stanley-boost-bonus-investment-bankers-20?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3341062/ubs-citigroup-morgan-stanley-boost-bonus-investment-bankers-20?utm_source=rss_feed Sun, 25 Jan 2026 23:30:13 +0000 Aileen Chuang Aileen Chuang A sudden spike in volatility in Japanese government bonds (JGBs) – long seen as among the world’s safest assets – is stoking concern that risk aversion is rippling through Asian markets across asset classes, according to analysts. Investors have repriced the term and risk premiums on JGBs as fiscal worries that started simmering last year have flared again after Prime Minister Sanae Takaichi pledged tax cuts and higher spending. The 40-year bond yield rose above 4 per cent on Tuesday, the... https://www.scmp.com/business/commodities/article/3340667/japan-bond-volatility-raises-contagion-alarm-asias-stocks-and-debt?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3340667/japan-bond-volatility-raises-contagion-alarm-asias-stocks-and-debt?utm_source=rss_feed Wed, 21 Jan 2026 07:11:50 +0000 Peggy Ye Peggy Ye Major financial institutions, including Citi and Bank of America, are increasingly optimistic about Hong Kong’s residential property market this year, as lower mortgage rates and strong leasing demand change buying behaviour. Citi raised its home price forecast to 8 per cent this year, up from 3 per cent in October, citing a faster-than-expected rebound last year. “[There will be] further acceleration in 2027 under a multi-year upcycle,” said Griffin Chan, an analyst at Citi Research, on Friday.... https://www.scmp.com/business/article/3339616/hong-kong-property-citi-lifts-forecast-after-morgan-stanleys-upgrade?utm_source=rss_feed https://www.scmp.com/business/article/3339616/hong-kong-property-citi-lifts-forecast-after-morgan-stanleys-upgrade?utm_source=rss_feed Mon, 12 Jan 2026 10:47:59 +0000 Daniel Ren Daniel Ren The slumbering property sector remains a threat to China’s economic growth because of its huge impact on the employment rate and consumer demand, according to industry officials and analysts. Amid sharp declines in property investment, housing sales and home prices last year, a further downturn of the significant sector may put more developers, workers, homebuyers and banks at risk. In the first 11 months of 2025, new properties worth 7.5 trillion yuan (US$1.07 trillion), comprising units for... https://www.scmp.com/business/banking-finance/article/3338662/property-industry-remains-enemy-within-beijings-economic-targets?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3338662/property-industry-remains-enemy-within-beijings-economic-targets?utm_source=rss_feed Sun, 04 Jan 2026 07:30:16 +0000 Nicholas Spiro Nicholas Spiro Judging by investor sentiment in the final quarter of last year, the spectacular rally in mainland Chinese and Hong Kong equities is over. The CSI 300 index of Shanghai- and Shenzhen-listed stocks declined 0.2 per cent while the MSCI China Index fell by over 7 per cent. The Hang Seng Index, meanwhile, lost 4.5 per cent. While most Wall Street banks remain bullish on Chinese stocks, some have turned more cautious. Morgan Stanley believes 2026 will be “a year of stabilization after 2025’s high... https://www.scmp.com/opinion/china-opinion/article/3338368/why-investors-should-remain-bullish-hong-kong-mainland-stocks-2026?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3338368/why-investors-should-remain-bullish-hong-kong-mainland-stocks-2026?utm_source=rss_feed Thu, 01 Jan 2026 08:37:37 +0000 Daniel Ren Daniel Ren Police in eastern China’s Zhejiang province have detained Yu Faxiang, the chairman of Hong Kong-listed Haichang Ocean Park Holdings, as authorities investigate alleged mismanagement following defaults on multibillion-yuan wealth products issued by a firm under his control. It is the latest crackdown on mainland China’s shadow banking system, continuing years of government efforts to clean up the sector. Police have imposed “criminal compulsory measures” against Yu and were conducting a probe... https://www.scmp.com/business/banking-finance/article/3337441/hong-kong-listed-haichang-ocean-parks-boss-detained-china-amid-shadow-banking-probe?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3337441/hong-kong-listed-haichang-ocean-parks-boss-detained-china-amid-shadow-banking-probe?utm_source=rss_feed Tue, 23 Dec 2025 05:40:36 +0000 Bloomberg Bloomberg Zijin Mining Group’s founder Chen Jinghe will step down as chairman after steering the company to the upper echelon of global metals miners following a decades-long run of growth. The 68-year-old will become honorary chairman and senior consultant for the company after deciding to not accept nomination as a candidate for the board due to age and family reasons, according to an exchange filing on Saturday. The Fujian-based group did not name a successor. Zijin’s market value ballooned to more... https://www.scmp.com/business/commodities/article/3334757/mainland-chinese-miner-zijins-founder-who-built-us100-billion-firm-retires?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3334757/mainland-chinese-miner-zijins-founder-who-built-us100-billion-firm-retires?utm_source=rss_feed Mon, 01 Dec 2025 08:37:36 +0000 Julie Zhang Julie Zhang China is betting on bio-manufacturing to boost technological self-reliance and drive economic growth as part of the next five-year plan, elevating the sector on par with electric vehicles and semiconductors. Beijing is upgrading and expanding a nationwide bio-ecosystem, with 43 companies and research institutes selected in the first batch of pilot-scale manufacturing platforms for products ranging from biopharmaceuticals to food additives and enzymes to cosmetics, according to a statement from... https://www.scmp.com/business/china-business/article/3334538/china-bets-bio-manufacturing-new-growth-engine-bid-tech-self-reliance?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3334538/china-bets-bio-manufacturing-new-growth-engine-bid-tech-self-reliance?utm_source=rss_feed Sat, 29 Nov 2025 01:00:16 +0000 Aileen Chuang Aileen Chuang UBTech Robotics, one of China’s top makers of humanoid robots, plans to raise HK$3.11 billion (US$399.6 million) through a share placement in Hong Kong – its sixth and largest such fundraising since last year, riding on growing industrial orders and the sector’s momentum. The Shenzhen-based company aimed to sell 31,468,000 new shares for HK$98.80 each, representing a discount of around 11.4 per cent from the closing price on Monday, according to a filing to the Hong Kong stock exchange on... https://www.scmp.com/business/markets/article/3334021/chinas-ubtech-robotics-eyes-us400-million-hong-kong-share-placement?utm_source=rss_feed https://www.scmp.com/business/markets/article/3334021/chinas-ubtech-robotics-eyes-us400-million-hong-kong-share-placement?utm_source=rss_feed Tue, 25 Nov 2025 02:59:37 +0000 Themis Qi Themis Qi The race to develop artificial intelligence has pushed governments and technology giants to build new electricity plants and upgrade their decades-old grid networks, creating significant opportunities for Chinese power equipment companies, according to analysts. Chinese firms have been benefiting from the spillover of a US order boom, which was driven by US President Donald Trump’s push for tech leaders like Meta and SoftBank to invest in AI infrastructure. “The US buys products from Japan and... https://www.scmp.com/news/business/china-business/article/3333897/chinas-power-equipment-firms-ride-ai-driven-boom-amid-demand-us-emerging-markets?utm_source=rss_feed https://www.scmp.com/news/business/china-business/article/3333897/chinas-power-equipment-firms-ride-ai-driven-boom-amid-demand-us-emerging-markets?utm_source=rss_feed Mon, 24 Nov 2025 05:25:12 +0000 Aileen Chuang Aileen Chuang China Hongqiao Group, the country’s largest private aluminium producer, aims to raise HK$11.68 billion (US$1.5 billion) from a share sale to fund projects and repay debt, capitalising on robust industry margins and a buoyant Hong Kong equity market. The company planned to sell up to 400 million existing shares for HK$29.20 each, representing a 9.6 per cent discount to its closing price on Monday, according to a filing to the Hong Kong stock exchange on Tuesday. “In view of the current capital... https://www.scmp.com/business/banking-finance/article/3333193/china-hongqiao-targets-us15-billion-share-sale-hong-kong-amid-aluminium-boom?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3333193/china-hongqiao-targets-us15-billion-share-sale-hong-kong-amid-aluminium-boom?utm_source=rss_feed Tue, 18 Nov 2025 03:50:11 +0000 Daniel Ren Daniel Ren Stronger stimulus measures are needed to halt the decline in China’s embattled property sector, as Beijing aims to guide the national economy towards a stable and healthy trajectory, according to Citigroup. An incentive package – including interest rate reductions, tax cuts, further relaxation of home purchase restrictions and the buy-back of idle land – could help revitalise the real estate industry, said Yu Xiangrong, Citi’s chief economist for Greater China, during a media briefing in... https://www.scmp.com/business/money/article/3332651/chinas-property-sector-needs-stronger-stimulus-citigroup-economist?utm_source=rss_feed https://www.scmp.com/business/money/article/3332651/chinas-property-sector-needs-stronger-stimulus-citigroup-economist?utm_source=rss_feed Thu, 13 Nov 2025 10:45:10 +0000 Bloomberg Bloomberg The emerging-market equity benchmark gained for a 10th consecutive month in October, as an artificial intelligence (AI) boom and a weaker dollar drove capital inflows. The MSCI Emerging Markets Index has rallied every month from January to October - a feat last seen in 1993 — and is up around 30 per cent this year. On Friday, it fell 0.7 per cent but closed the month with a 4 per cent gain. Multiple catalysts have driven that surge, including strong gains in many AI-focused Asian tech stocks and... https://www.scmp.com/business/banking-finance/article/3331211/emerging-market-stocks-have-risen-every-month-year-first-non-break-streak-1993?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3331211/emerging-market-stocks-have-risen-every-month-year-first-non-break-streak-1993?utm_source=rss_feed Sun, 02 Nov 2025 06:17:46 +0000 Enoch Yiu Enoch Yiu Hong Kong’s financial sector has seen strong growth in the number of women taking up senior positions and board directorships in recent years, driven by regulatory changes and corporate initiatives promoting gender diversity, according to a survey released on Tuesday. Women held 45 per cent of senior leadership roles – namely CEO, managing director and executives within three reporting levels below – in banks, asset management firms, insurance companies and fintech firms in the city, according... https://www.scmp.com/business/banking-finance/article/3330557/glass-ceiling-shattered-45-top-hong-kong-financial-sector-roles-go-women?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3330557/glass-ceiling-shattered-45-top-hong-kong-financial-sector-roles-go-women?utm_source=rss_feed Tue, 28 Oct 2025 05:30:09 +0000 Bloomberg Bloomberg A former wealth banker at Citigroup got the longest sentence in Singapore’s biggest money laundering case for his role in aiding the movement of illicit funds and obstructing justice. Wang Qiming, a former relationship manager at Citibank Singapore, was sentenced to 24 months in prison after he pleaded guilty to four out of 10 charges. The prosecutor sought 24 to 30 months' imprisonment while Wang’s defence lawyer argued for seven to 11 months. The prosecutor argued that Wang knew the importance... https://www.scmp.com/news/asia/southeast-asia/article/3330041/singapore-jails-ex-citi-banker-over-role-us23-billion-money-laundering-scandal?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3330041/singapore-jails-ex-citi-banker-over-role-us23-billion-money-laundering-scandal?utm_source=rss_feed Thu, 23 Oct 2025 07:44:12 +0000 Aileen Chuang Aileen Chuang Hang Seng Bank has appointed Hong Kong-based Somerley Capital as a financial adviser to its committee evaluating HSBC Holdings’ proposal to buy out the bank’s minority shares. Somerley would provide its opinion to assist the independent board committee in assessing the proposal, Hang Seng Bank said in an exchange filing on Wednesday. Somerley’s advice and the recommendations of the committee would be included in a forthcoming scheme document to be sent to Hang Seng Bank’s shareholders, the... https://www.scmp.com/business/banking-finance/article/3329971/hang-seng-bank-appoints-somerley-capital-assess-hsbcs-buyout-offer?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3329971/hang-seng-bank-appoints-somerley-capital-assess-hsbcs-buyout-offer?utm_source=rss_feed Wed, 22 Oct 2025 12:28:11 +0000 Zhang Shidong Zhang Shidong Zijin Mining Group and other gold producers slumped in Hong Kong and Chinese mainland trading, tracking the steepest decline in the yellow metal in 12 years after investors took profits from a torrid rally and geopolitical risks showed signs of receding. Fujian province-based Zijin Mining tumbled 1.7 per cent to HK$31.80 in the city, while Shandong Gold Mining plunged 2.6 per cent to HK$34.50 and Chifeng Jilong Gold Mining sank 3 per cent to HK$28.52. A gauge of 43 gold-linked stocks trading on... https://www.scmp.com/business/china-business/article/3329890/chinese-gold-producers-tumble-after-bullions-biggest-drop-12-years-shatters-record-run?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3329890/chinese-gold-producers-tumble-after-bullions-biggest-drop-12-years-shatters-record-run?utm_source=rss_feed Wed, 22 Oct 2025 07:00:09 +0000 James David Spellman James David Spellman JPMorgan CEO Jamie Dimon’s remark that “when you see one cockroach, there are probably more” is a blunt reminder of the global financial crisis in 2008. At the time, a flood of bad mortgages had revealed a tenuous labyrinth of complex, highly vulnerable financial products that saw some US investment banks collapse and equity markets struggle for six years to recover losses. Evidence is mounting that we are approaching danger again, with revelations of bad debt exposure for regional and... https://www.scmp.com/opinion/world-opinion/article/3329661/bad-debt-cockroaches-signal-new-threats-global-economy?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3329661/bad-debt-cockroaches-signal-new-threats-global-economy?utm_source=rss_feed Tue, 21 Oct 2025 21:30:08 +0000 Enoch Yiu Enoch Yiu When Hong Kong businessman Sunny Yip Yuk-chik heard about a new scheme that would make it easier and cheaper to borrow Chinese yuan, he immediately called his staff on the Chinese mainland with the news. Earlier this month, the Hong Kong Monetary Authority (HKMA) launched a 100 billion yuan (US$14 billion) Renminbi Business Facility (RBF) that would enable business owners like Yip to borrow yuan from Hong Kong banks for up to 12 months at the onshore yuan interest rate, easing trade... https://www.scmp.com/business/banking-finance/article/3329388/how-hong-kong-building-ecosystem-solidify-its-role-offshore-yuan-hub?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3329388/how-hong-kong-building-ecosystem-solidify-its-role-offshore-yuan-hub?utm_source=rss_feed Sat, 18 Oct 2025 01:00:14 +0000 Associated Press Associated Press Wall Street had one of its most profitable quarters ever, based on the earnings of four of the biggest US banks, as the companies were helped by a flurry of deal-making, soaring stock prices and a global economy that remains resilient amid tariffs and geopolitical upheaval. Despite the strong earnings reported on Tuesday by JPMorgan Chase, Citigroup, Wells Fargo and Goldman Sachs, bank executives expressed various degrees of caution about the markets and the economy, including worries that asset... https://www.scmp.com/business/banking-finance/article/3329096/wall-street-sees-major-jump-profits-helped-soaring-stock-prices-and-deal-making?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3329096/wall-street-sees-major-jump-profits-helped-soaring-stock-prices-and-deal-making?utm_source=rss_feed Wed, 15 Oct 2025 07:52:46 +0000 Enoch Yiu Enoch Yiu A growing number of mainland Chinese financial institutions and international companies have shown interest in establishing regional headquarters in Hong Kong to tap into increasing business opportunities across the region, according to the head of Citigroup’s local unit. Aveline San Pau-len, Citi Hong Kong CEO and head of banking, said many mainland banks and international financial institutions would like Citigroup to help set up their headquarters in the city to serve clients who wanted to... https://www.scmp.com/business/banking-finance/article/3328462/mainland-financial-firms-seeking-strategic-hong-kong-headquarters-rise-citigroup?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3328462/mainland-financial-firms-seeking-strategic-hong-kong-headquarters-rise-citigroup?utm_source=rss_feed Mon, 13 Oct 2025 00:30:08 +0000 Aileen Chuang Aileen Chuang HSBC Holdings’ US$13.6 billion bid to take full control of Hang Seng Bank could be enticing enough for investors to cash out as the deal creates long-term value for the London-based bank, although some analysts said the offer could be sweeter. On Thursday, HSBC offered to acquire the remaining 36.5 per cent stake in Hang Seng Bank it does not own at HK$155 per share, a 30 per cent premium over the previous closing price. The bank owns 63.5 per cent of Hong Kong’s largest domestic bank. The... https://www.scmp.com/business/banking-finance/article/3328525/hsbcs-us136-billion-buyout-offer-good-enough-hang-seng-bank-investors?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3328525/hsbcs-us136-billion-buyout-offer-good-enough-hang-seng-bank-investors?utm_source=rss_feed Fri, 10 Oct 2025 08:58:33 +0000 Eric Ng Eric Ng Beijing’s fight against disastrous competition in the solar-equipment sector showed early signs of success, with a sustained recovery in prices likely to return leading polysilicon makers to profitability after 18 months of losses, according to analysts. A raft of initiatives – including a proposal to limit manufacturing plants’ power use – following a series of government-industry meetings to discuss self-imposed production controls, had borne early fruit, they said. “Upstream solar-product... https://www.scmp.com/business/china-business/article/3325974/beijings-fight-quash-solar-sector-price-war-paying-analysts-say?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3325974/beijings-fight-quash-solar-sector-price-war-paying-analysts-say?utm_source=rss_feed Thu, 18 Sep 2025 23:30:08 +0000 Danielle Popov Danielle Popov Most family offices in Asia-Pacific are bullish about their portfolios and expect decent returns this year, with interest rate cuts and advances in artificial intelligence more than offsetting tariff uncertainties, according to a Citi wealth survey released on Tuesday. More than 80 per cent of family offices in the region anticipated returns of more than 5 per cent this year, the Citi Wealth 2025 Family Office Report showed. At least 30 per cent of those surveyed expected returns of between 10... https://www.scmp.com/business/banking-finance/article/3325702/asia-pacific-family-offices-build-resilient-portfolios-withstand-tariff-shocks-citi?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3325702/asia-pacific-family-offices-build-resilient-portfolios-withstand-tariff-shocks-citi?utm_source=rss_feed Tue, 16 Sep 2025 12:00:37 +0000