https://www.scmp.com/rss/518150/feed Bank of China (Hong Kong) is the Hong Kong subsidiary of state-owned Bank of China and one of three note-issuing banks in Hong Kong (also HSBC and Standard Chartered), offering financial, investment and wealth management services to personal, corporate and institutional customers. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com 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 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 Zhu Wenqian Zhu Wenqian The Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB) announced on Wednesday the joint establishment of the Northern Metropolis Financial Advisory Taskforce, which will explore financing solutions for the development of the city’s flagship project. The Northern Metropolis, a megaproject designed to bolster Hong Kong’s economic base and advance its integration with the Greater Bay Area, will transform 30,000 hectares (74,132 acres) of land near the city’s border... https://www.scmp.com/business/banking-finance/article/3351034/hkma-and-hkab-launch-task-force-hong-kongs-northern-metropolis-financing?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3351034/hkma-and-hkab-launch-task-force-hong-kongs-northern-metropolis-financing?utm_source=rss_feed Wed, 22 Apr 2026 11:52:46 +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 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 The Hong Kong Monetary Authority (HKMA) has warned the public to beware of interest rate risks after it kept its base rate unchanged, following a similar move by the US Federal Reserve, as the city’s de facto central bank said the Middle East conflict has added to the uncertainty over the pace of rate cuts this year. HKMA maintained the city’s base rate at 4 per cent on Thursday. Hours earlier, the Fed kept its target rate in the range of 3.5 per cent to 3.75 per cent, after the second meeting... https://www.scmp.com/business/banking-finance/article/3347088/hong-kong-follows-federal-reserve-keep-base-rate-unchanged-amid-middle-east-war?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347088/hong-kong-follows-federal-reserve-keep-base-rate-unchanged-amid-middle-east-war?utm_source=rss_feed Wed, 18 Mar 2026 23:16:04 +0000 Paul McNamara Paul McNamara A “relentless ability to learn” could propel Coleman Wong Chak-lam into the world’s top 50 and beyond, according to the Hongkonger’s coach, James Allemby. Wong will attempt to reach his first ATP 250 semi-final when he meets “very streaky” world No 20 Flavio Cobolli in the last eight of the Delray Beach Open on Friday in Florida. The 21-year-old, who is ranked 137th, has already got the better of world No 29 Brandon Nakashima and world No 45 Nuno Borges. Having not reached an ATP 250... https://www.scmp.com/sport/tennis/article/3344071/hong-kong-star-coleman-wong-tipped-world-top-50-ahead-crunch-flavio-cobolli-clash?utm_source=rss_feed https://www.scmp.com/sport/tennis/article/3344071/hong-kong-star-coleman-wong-tipped-world-top-50-ahead-crunch-flavio-cobolli-clash?utm_source=rss_feed Fri, 20 Feb 2026 04:02:50 +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 Paul McNamara Paul McNamara Coleman Wong Chak-lam has claimed his second notable scalp inside three days after beating world No 29 Brandon Nakashima in straight sets to book a Delray Beach Open quarter-final date with Flavio Cobolli. Playing the ATP 250 event in America for the first time, Wong sent down 13 aces and recovered from being broken when serving for the match to wrap up a 6-4, 7-6 victory in one hour and 28 minutes. The Hongkonger has won four straight matches in Florida, after coming through a pair of... https://www.scmp.com/sport/tennis/article/3343973/coleman-wong-beats-world-no-29-reach-quarter-finals-delray-beach-open?utm_source=rss_feed https://www.scmp.com/sport/tennis/article/3343973/coleman-wong-beats-world-no-29-reach-quarter-finals-delray-beach-open?utm_source=rss_feed Thu, 19 Feb 2026 05:05:17 +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 Ambrose Li Ambrose Li The loss-making authority that manages Hong Kong’s West Kowloon arts hub will sell bonds for the first time, aimed at raising up to US$1 billion to fund its operations. According to documents submitted to Hong Kong Exchanges and Clearing on Thursday, the West Kowloon Cultural District Authority appointed the Hongkong and Shanghai Banking Corporation and Standard Chartered Bank (Hong Kong) as arrangers for the medium-term note programme. This will mark the first time the authority, which manages... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3343373/hong-kongs-west-kowloon-arts-hub-seeks-us1-billion-first-bond-sale-fund-operations?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3343373/hong-kongs-west-kowloon-arts-hub-seeks-us1-billion-first-bond-sale-fund-operations?utm_source=rss_feed Thu, 12 Feb 2026 15:17:42 +0000 Enoch Yiu Enoch Yiu Hong Kong’s retail banks posted 7.3 per cent pre-tax profit growth last year, as rising bad debts and a narrower net interest margin offset growing income from wealth-management services. The city’s 30 retail banks recorded lower growth in aggregated pre-tax profit than in 2024, when profits increased 8.4 per cent, according to data from the Hong Kong Monetary Authority (HKMA). The annual growth was much slower than the 62 per cent jump in 2023, when the city had just reopened the border with... https://www.scmp.com/business/banking-finance/article/3343311/hong-kong-banks-profit-growth-slows-rising-bad-debts-offset-wealth-management-income?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3343311/hong-kong-banks-profit-growth-slows-rising-bad-debts-offset-wealth-management-income?utm_source=rss_feed Thu, 12 Feb 2026 08:31:24 +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 Enoch Yiu Enoch Yiu Hong Kong’s de facto central bank has warned the public to beware of interest rate uncertainties this year after leaving its base rate unchanged, following a similar move overnight by the US Federal Reserve, leaving borrowers in the city with a longer wait for funding costs to fall. The Hong Kong Monetary Authority (HKMA) announced its decision to keep the city’s base rate at 4 per cent on Thursday morning. Hours earlier, the Fed also kept its target rate in the range of 3.5 per cent to 3.75 per... https://www.scmp.com/business/banking-finance/article/3341602/hkma-follows-federal-reserve-keep-interest-rate-unchanged?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3341602/hkma-follows-federal-reserve-keep-interest-rate-unchanged?utm_source=rss_feed Wed, 28 Jan 2026 23:07:07 +0000 SCMP Reporter SCMP Reporter Are your loved ones in luck this year? See our predictions for all the zodiac signs in the Year of the Horse. As the city prepares to welcome the Year of the Horse, the Hong Kong Monetary Authority (HKMA) has coordinated with the three local note-issuing banks to ensure residents have access to crisp banknotes for the traditional exchanging of red packets. From February 3 to February 16, specific branches of HSBC, Standard Chartered and Bank of China (Hong Kong) will provide both brand-new and... https://www.scmp.com/lifestyle/chinese-culture/article/3341478/reservations-now-open-new-banknotes-year-horse-2026-red-packets?utm_source=rss_feed https://www.scmp.com/lifestyle/chinese-culture/article/3341478/reservations-now-open-new-banknotes-year-horse-2026-red-packets?utm_source=rss_feed Wed, 28 Jan 2026 10:15:07 +0000 Enoch Yiu Enoch Yiu Hong Kong banks may not cut their prime rates this year, but local interbank rates will still follow US rates lower, benefiting a majority of borrowers, according to a senior executive of the Hong Kong Monetary Authority (HKMA). Analysts widely expect the US Federal Reserve to cut its key rate by three-quarters of a point this year, but Hong Kong commercial banks are unlikely to cut their prime lending rates more than they already have. “It would be hard for banks to cut their prime rate any... https://www.scmp.com/business/banking-finance/article/3341150/how-lower-us-interest-rates-will-help-hongkongers-even-if-local-prime-rates-dont-drop?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3341150/how-lower-us-interest-rates-will-help-hongkongers-even-if-local-prime-rates-dont-drop?utm_source=rss_feed Mon, 26 Jan 2026 03:30:14 +0000 Oscar Liu Oscar Liu Hong Kong will sign an accord with Shanghai next week to establish a cross-border gold trade clearing system, a move the finance chief has said will bolster the city’s push to become an international trading hub for the precious metal. Financial Secretary Paul Chan Mo-po revealed on Sunday that the city and the Shanghai Gold Exchange would sign a memorandum of understanding at next week’s Asian Financial Forum to pave the way for greater connectivity between the two markets. “We are accelerating... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3340295/hong-kong-steps-bid-become-global-gold-trading-hub-shanghai-agreement?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3340295/hong-kong-steps-bid-become-global-gold-trading-hub-shanghai-agreement?utm_source=rss_feed Sun, 18 Jan 2026 04:24:44 +0000 Zhou Xin Zhou Xin Hong Kong and Shenzhen can work closely to empower finance with artificial intelligence, delegates said on Thursday at the China Conference: Greater Bay Area, an event hosted by the South China Morning Post. Joseph Chan Ho-lim, undersecretary for Financial Services and the Treasury in the Hong Kong government, said Hong Kong and Shenzhen were seeking deeper cooperation between finance and technology. Chan said at the event in Qianhai, a bonded zone in Shenzhen, that Hong Kong, as a... https://www.scmp.com/business/banking-finance/article/3339943/hong-kong-and-shenzhen-forge-close-ties-finance-and-ai-build-world-class-fintech-hub?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3339943/hong-kong-and-shenzhen-forge-close-ties-finance-and-ai-build-world-class-fintech-hub?utm_source=rss_feed Thu, 15 Jan 2026 02:13:48 +0000 Enoch Yiu Enoch Yiu High-dividend yielding Hong Kong and mainland banking stocks are likely to attract investors looking to park some of the HK$106.16 billion (US$13.6 billion) windfall from the Hang Seng Bank privatisation deal, according to analysts. They tipped Bank of China (Hong Kong) and HSBC to be among the biggest beneficiaries these investors seek as dividend-paying replacements. About 15,000 Hang Seng Bank shareholders are expected to receive their payout cheques by February 4 in exchange for their... https://www.scmp.com/business/article/3339361/which-stocks-will-hang-seng-bank-shareholders-consider-their-us14-billion-windfall?utm_source=rss_feed https://www.scmp.com/business/article/3339361/which-stocks-will-hang-seng-bank-shareholders-consider-their-us14-billion-windfall?utm_source=rss_feed Sun, 11 Jan 2026 23:30:12 +0000 Mike Chan,Paul McNamara Mike Chan,Paul McNamara Alexander Bublik said he missed “the easy matches” from the professional tour of five years ago, after he resisted a second-set fightback from world No 406 Jerry Shang Juncheng in their Bank of China Hong Kong Tennis Open quarter-final on Friday. The Kazakh won 6-1, 7-6 in one hour and 25 minutes to book a semi-final clash with Marcos Giron of America. Bublik raced into a 5-0 lead and, after Shang finally got on the board following a sixth game of six deuces, wrapped up the set in 28... https://www.scmp.com/sport/tennis/article/3339393/jerry-shang-casts-doubt-hong-kong-return-kazakh-conqueror-rues-loss-easy-matches?utm_source=rss_feed https://www.scmp.com/sport/tennis/article/3339393/jerry-shang-casts-doubt-hong-kong-return-kazakh-conqueror-rues-loss-easy-matches?utm_source=rss_feed Fri, 09 Jan 2026 13:26:08 +0000 Paul McNamara Paul McNamara Coleman Wong Chak-lam pledged to stay on the trail of the world’s leading players after he was dealt a salutary lesson by wily Lorenzo Musetti in his Bank of China Hong Kong Tennis Open quarter-final on Friday. Hongkonger Wong lost 6-4, 6-4, as the challenge of overcoming Musetti proved one ask too many following two victories over top-100 players to reach this stage. He committed 30 unforced errors as he narrowed the margins in his bid to upset the metronomic precision of the world No... https://www.scmp.com/sport/tennis/article/3339307/hong-kong-tennis-open-musetti-ends-coleman-wongs-semi-final-hopes-straight-sets?utm_source=rss_feed https://www.scmp.com/sport/tennis/article/3339307/hong-kong-tennis-open-musetti-ends-coleman-wongs-semi-final-hopes-straight-sets?utm_source=rss_feed Fri, 09 Jan 2026 07:22:08 +0000 Mike Chan Mike Chan Alexander Bublik said he loves the “hot weather” in Hong Kong after dispatching Botic van de Zandschulp with a convincing straight sets win at the Bank of China Hong Kong Tennis Open on Thursday. Playing in the city for the first time, the world No 11 from Kazakhstan beat his Dutch opponent 6-3, 6-3 and advanced to the quarter-finals, where he will face Jerry Shang Juncheng. Shang had a straight sets win of his own, seeing off fifth seed Lorenzo Sonego 6-3, 6-4 at Victoria Park Tennis Stadium to... https://www.scmp.com/sport/hong-kong/article/3339219/hong-kong-tennis-open-bublik-ready-heat-shang-battle-semi-final-line?utm_source=rss_feed https://www.scmp.com/sport/hong-kong/article/3339219/hong-kong-tennis-open-bublik-ready-heat-shang-battle-semi-final-line?utm_source=rss_feed Thu, 08 Jan 2026 12:39:06 +0000 Ada Li,Paul McNamara Ada Li,Paul McNamara Portuguese eighth seed Nuno Borges continued his impressive start to the season with a straight‑sets win over former world No 3 Marin Cilic at the Bank of China Hong Kong Tennis Open on Wednesday. The world No 45 beat the evergreen Cilic 7-5, 6-3, ending the Croat’s bid to reach the last eight. “Overall, I thought I competed really well,” Borges said after the match. “It was not clean and perfect like we always want, but I’m here to keep building my tennis, to find confidence and rhythm.” Having... https://www.scmp.com/sport/tennis/article/3339080/hong-kong-tennis-open-impressive-nuno-borges-ends-ex-world-no-3-marin-cilics-campaign?utm_source=rss_feed https://www.scmp.com/sport/tennis/article/3339080/hong-kong-tennis-open-impressive-nuno-borges-ends-ex-world-no-3-marin-cilics-campaign?utm_source=rss_feed Wed, 07 Jan 2026 12:10:23 +0000 Paul McNamara Paul McNamara After marrying long-term partner Tamara in the off-season, and winning two Bank of China Hong Kong Tennis Open qualifiers, Laslo Djere has begun to banish memories of the “disastrous” end to his 2025 campaign. In a desperate attempt to cling to his top-100 ranking and main-draw entry for this month’s Australian Open, Djere, who has spoken movingly about losing both his parents by the age of 23, hurried back after sustaining a stress fracture of his left shinbone last July. The Serbian... https://www.scmp.com/sport/tennis/article/3338806/djeres-unplanned-hong-kong-tennis-trip-banishing-memories-disastrous-end-2025?utm_source=rss_feed https://www.scmp.com/sport/tennis/article/3338806/djeres-unplanned-hong-kong-tennis-trip-banishing-memories-disastrous-end-2025?utm_source=rss_feed Tue, 06 Jan 2026 02:00:11 +0000 Peggy Ye Peggy Ye Hong Kong’s mortgage market lost some momentum in November, official data showed, though activity over the first 11 months of 2025 still points to a full-year recovery from the previous year’s slump as borrowing costs eased, home prices stabilised and sentiment improved. Mortgage applications – a gauge of buyer interest – fell 2.9 per cent from October to 8,019, according to the Hong Kong Monetary Authority (HKMA). Mortgage approvals, representing loans banks agreed to provide, declined 7 per... https://www.scmp.com/business/article/3338543/hong-kong-mortgage-recovery-holds-2025-despite-end-year-wobble?utm_source=rss_feed https://www.scmp.com/business/article/3338543/hong-kong-mortgage-recovery-holds-2025-despite-end-year-wobble?utm_source=rss_feed Fri, 02 Jan 2026 11:00:07 +0000 Matthew Cheng Matthew Cheng Veteran Hong Kong lawmakers Starry Lee Wai-king and Ronick Chan Chun-ying have thrown their hats in the ring to be the Legislative Council’s next president, with a vote expected on January 8. The coming contest will mark the first time two hopefuls from the pro-government camp have vied for the position, with a scholar saying a president chosen through competition would command greater authority. Lee and Chan are running to succeed Andrew Leung Kwan-yuen, who stepped down after deciding not to... https://www.scmp.com/news/hong-kong/politics/article/3338533/veteran-hong-kong-lawmakers-starry-lee-ronick-chan-race-legco-presidency?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3338533/veteran-hong-kong-lawmakers-starry-lee-ronick-chan-race-legco-presidency?utm_source=rss_feed Fri, 02 Jan 2026 09:44:59 +0000 Charmaine Yu Charmaine Yu From an exhibition that evokes childhood memories to a dining experience starring an overlooked ingredient, here are five things to do in Hong Kong this weekend as we turn the page into 2026. 1. The Beginning of the Moomins Celebrating the 80th anniversary of the beloved Finnish-Swedish characters, “The Beginning of the Moomins” is an immersive exhibition of adorable characters that evokes childhood nostalgia. Attendees can purchase a range of exclusive 80th-anniversary merchandise, including... https://www.scmp.com/lifestyle/arts/article/3338449/5-best-things-do-hong-kong-weekend-january-2-4?utm_source=rss_feed https://www.scmp.com/lifestyle/arts/article/3338449/5-best-things-do-hong-kong-weekend-january-2-4?utm_source=rss_feed Fri, 02 Jan 2026 03:00:10 +0000 Enoch Yiu Enoch Yiu The US Federal Reserve under a new chairman in 2026 is expected to press ahead with interest rate cuts of up to 75 basis points, a move that would lower Hong Kong’s interbank-linked loan costs but leave prime lending rates stuck at their historical low, according to analysts. The Fed and the Hong Kong Monetary Authority (HKMA) both reduced their key policy rates by a total of 75 basis points in 2025, following a full percentage-point rate cut in 2024. Hong Kong’s base rate now stands at 4 per... https://www.scmp.com/business/banking-finance/article/3337042/hong-kong-interbank-rates-forecast-drop-expected-us-monetary-easing-2026?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3337042/hong-kong-interbank-rates-forecast-drop-expected-us-monetary-easing-2026?utm_source=rss_feed Thu, 01 Jan 2026 23:00:09 +0000 Matthew Cheng Matthew Cheng Newly elected lawmakers should be “representatives of the public” rather than mere commentators, Hong Kong’s leader has said after the swearing-in of all 90 legislators, warning against “soft resistance” and acts that stir conflicts under the guise of critique. Meanwhile, veteran lawmakers Starry Lee Wai-king and Ronick Chan Chun-ying, front-runners for the Legislative Council presidency, remained tight-lipped about their bids on Thursday, a day before the nomination period is set to... https://www.scmp.com/news/hong-kong/politics/article/3338395/be-public-representatives-not-commentators-john-lee-tells-hong-kong-lawmakers?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3338395/be-public-representatives-not-commentators-john-lee-tells-hong-kong-lawmakers?utm_source=rss_feed Thu, 01 Jan 2026 08:45:09 +0000 Enoch Yiu Enoch Yiu Leading banks from Southeast Asia and the Middle East – including OCBC, Bangkok Bank, First Abu Dhabi Bank and Qatar National Bank – have joined the Hong Kong Monetary Authority’s (HKMA) expanded yuan liquidity facility, underscoring the city’s push as a global offshore renminbi (RMB) business hub. The HKMA said on Monday it had doubled the quota it allocated to banks under the Renminbi Business Facility to 100 billion yuan (US$14 billion) from December 1, the maximum allowed under the... https://www.scmp.com/business/banking-finance/article/3338044/ocbc-bangkok-bank-first-abu-dhabi-join-hong-kongs-us14-billion-offshore-yuan-scheme?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3338044/ocbc-bangkok-bank-first-abu-dhabi-join-hong-kongs-us14-billion-offshore-yuan-scheme?utm_source=rss_feed Mon, 29 Dec 2025 10:30:54 +0000 Ada Li Ada Li Jerry Shang Juncheng will launch his 2026 season at next month’s Bank of China Hong Kong Tennis Open, hoping a return to one of his favourite cities can kick-start a comeback to the top of the game. After an injury-plagued 2025, the 20-year-old, who is currently training at Florida’s IMG Academy, said he was eager to begin a new chapter and fight his way back into the top 50 in the world. Shang’s singles ranking has plummeted from a career-high No 47 in 2024, when he became just the second... https://www.scmp.com/sport/tennis/article/3336798/jerry-shang-hoping-energy-hong-kong-fans-can-kick-start-return-top-50-world?utm_source=rss_feed https://www.scmp.com/sport/tennis/article/3336798/jerry-shang-hoping-energy-hong-kong-fans-can-kick-start-return-top-50-world?utm_source=rss_feed Wed, 17 Dec 2025 23:00:16 +0000 Enoch Yiu Enoch Yiu Mainland Chinese customers enjoy the best mobile banking apps in Asia, but banks across the region still lag behind their Western counterparts when it comes to a great mobile experience, according to a global study. Three mainland lenders – Ping An Pocket Bank, China Merchant Bank (CMB) and Industrial and Commercial Bank of China (ICBC) – swept the top three positions in Asia in the ranking by Sia, an international management consulting firm. The firm’s Mobile Banking Benchmark assessed 137 apps... https://www.scmp.com/business/article/3335336/mainland-chinas-bank-apps-best-asia-beating-hong-kong-and-singapore-study-says?utm_source=rss_feed https://www.scmp.com/business/article/3335336/mainland-chinas-bank-apps-best-asia-beating-hong-kong-and-singapore-study-says?utm_source=rss_feed Sun, 07 Dec 2025 01:30:18 +0000 Enoch Yiu Enoch Yiu About 30 Hong Kong-based insurance companies, including AIA and Manulife, have issued 7,600 life insurance and 1,100 property policies to policyholders listed as residing at Wang Fuk Court, according to the Insurance Authority. Insurance Authority CEO Clement Cheung Wan-ching said the authority had set up a special task force, led by senior executives, to urge all insurers to identify policyholders affected by the blaze at Wang Fuk Court last week that killed 159 people, injured 79 and left an... https://www.scmp.com/business/companies/article/3335091/hong-kong-insurers-identify-8700-life-and-property-policies-owned-tai-po-fire-victims?utm_source=rss_feed https://www.scmp.com/business/companies/article/3335091/hong-kong-insurers-identify-8700-life-and-property-policies-owned-tai-po-fire-victims?utm_source=rss_feed Wed, 03 Dec 2025 12:25:12 +0000 Owen Goulding Owen Goulding Fresh off watching Ka Ying Rising turn in his “best performance” at Sha Tin on Sunday, David Hayes now turns his attention to Happy Valley on Wednesday night and continuing to close the gap on Mark Newnham in the trainers’ championship. His superstar posted his second-fastest time when cruising to his 15th consecutive victory in the Group Two BOCHK Private Banking Jockey Club Sprint (1,200m), with stablemate Tomodachi Kokoroe finishing seventh. It was a performance that even left his trainer... https://www.scmp.com/sport/racing/article/3333926/david-hayes-cloud-nine-he-sets-his-sights-mark-newnhams-title-lead-happy-valley?utm_source=rss_feed https://www.scmp.com/sport/racing/article/3333926/david-hayes-cloud-nine-he-sets-his-sights-mark-newnhams-title-lead-happy-valley?utm_source=rss_feed Mon, 24 Nov 2025 07:41:54 +0000 Owen Goulding,Jay Rooney Owen Goulding,Jay Rooney The status quo was maintained in the race to become the local rider at next month’s Longines International Jockeys’ Championship after Vincent Ho Chak-yiu and Jerry Chau Chun-lok both struck at Sha Tin on Sunday. Heading into the meeting, Ho was one winner ahead of Chau but he wasted no time in extending the advantage when Mabubu made all the running on debut to win the Class Four BOC Cross-Border Services Handicap (1,200m). Chau managed to wrestle the lead back down to one when the impressive... https://www.scmp.com/sport/racing/article/3333860/vincent-ho-and-jerry-chau-continue-tight-battle-international-jockeys-championship-berth?utm_source=rss_feed https://www.scmp.com/sport/racing/article/3333860/vincent-ho-and-jerry-chau-continue-tight-battle-international-jockeys-championship-berth?utm_source=rss_feed Sun, 23 Nov 2025 12:16:03 +0000 Jay Rooney Jay Rooney A lacklustre trial that caught the attention of stewards has failed to shake Hugh Bowman’s belief that Helios Express will improve significantly on Sunday, while the jockey also has high hopes for stablemate Red Lion after an encouraging return. While John Size’s horses are rarely fully tested or figure prominently in trials, Helios Express’ distant last – beaten a whopping 27 lengths – behind superstar Ka Ying Rising last week raised some eyebrows and prompted a probe by stewards. Bowman said... https://www.scmp.com/sport/racing/article/3333784/helios-express-lacklustre-trial-no-concern-hugh-bowman-ahead-jockey-club-sprint?utm_source=rss_feed https://www.scmp.com/sport/racing/article/3333784/helios-express-lacklustre-trial-no-concern-hugh-bowman-ahead-jockey-club-sprint?utm_source=rss_feed Sat, 22 Nov 2025 06:37:34 +0000 Sam Agars Sam Agars Voyage Bubble may get his best chance to topple the mighty Romantic Warrior in Sunday’s Group Two BOCHK Jockey Club Cup (2,000m), with trainer Ricky Yiu Poon-fai confirming his star’s first-up 12th was a complete forgive run. After being asked to work early under top weight and finding trouble in the run, Voyage Bubble never looked comfortable and faded in the straight. “You can just forget about his run with Matthew Poon [Ming-fai] on him. It was rough, very rough,” said Yiu. “Since then I have... https://www.scmp.com/sport/racing/article/3333615/ricky-yiu-confident-voyage-bubble-can-lift-romantic-warrior-clash-it-was-rough-very-rough?utm_source=rss_feed https://www.scmp.com/sport/racing/article/3333615/ricky-yiu-confident-voyage-bubble-can-lift-romantic-warrior-clash-it-was-rough-very-rough?utm_source=rss_feed Fri, 21 Nov 2025 00:49:13 +0000 Aileen Chuang Aileen Chuang Hong Kong’s de facto central bank has begun facilitating real-value transactions using tokenised deposits and digital assets under a controlled pilot programme from Thursday, reinforcing the city’s status as a fintech hub. The new phase of the Project Ensemble sandbox would enable seven commercial banks and 13 industry participants to settle tokenised transactions “faster, more transparently and efficiently”, the Hong Kong Monetary Authority (HKMA) said in a press release on Thursday. The... https://www.scmp.com/business/banking-finance/article/3332625/hong-kong-moves-theory-practice-real-value-tokenised-money-asset-deals?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3332625/hong-kong-moves-theory-practice-real-value-tokenised-money-asset-deals?utm_source=rss_feed Thu, 13 Nov 2025 10:00:58 +0000 Julie Zhang Julie Zhang The Hong Kong government priced a record HK$10 billion (US$1.3 billion) tokenised green bond offering on Monday, completing the world’s first government issuance to allow settlement using digital-fiat currencies as the city pushes to burnish its standing as a global hub for digital assets. “Hong Kong is uniquely positioned to connect traditional finance to the digital asset era,” said Christopher Hui Ching-yu, Secretary for Financial Services and the Treasury, in an announcement published by the... https://www.scmp.com/business/banking-finance/article/3332391/hong-kong-prices-worlds-first-government-bonds-tokenised-settlement?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3332391/hong-kong-prices-worlds-first-government-bonds-tokenised-settlement?utm_source=rss_feed Tue, 11 Nov 2025 14:46:26 +0000 Matthew Cheng Matthew Cheng Hong Kong’s coming Legislative Council election has seen a significant increase in candidates linked to mainland Chinese enterprises, with at least 49 – almost a third of the total – affiliated with such firms, up 50 per cent from 2021. The higher proportion reflected the growing prominence of mainland capital in Hong Kong’s economy and Beijing’s push for Legco to drive the city’s integration into national development, a political scholar said. A check by the Post found that among the 161... https://www.scmp.com/news/hong-kong/politics/article/3331537/30-161-hong-kong-legco-election-candidates-linked-mainland-chinese-firms?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3331537/30-161-hong-kong-legco-election-candidates-linked-mainland-chinese-firms?utm_source=rss_feed Tue, 04 Nov 2025 23:30:12 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong property deals surged to a three-month high in October, a month after the US Federal Reserve and the Hong Kong Monetary Authority (HKMA) loosened monetary policies again this year since a pause that began in December. Sales of new and second-hand homes – as well as office units, shops, industrial properties and parking spaces – rose 4.7 per cent to 7,190 units, up from 6,870 units in September, according to data released by the Land Registry on Tuesday. That was the most since July’s... https://www.scmp.com/business/banking-finance/article/3331487/hong-kong-property-deals-rise-3-month-high-buyers-take-advantage-rate-cut?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3331487/hong-kong-property-deals-rise-3-month-high-buyers-take-advantage-rate-cut?utm_source=rss_feed Tue, 04 Nov 2025 10:00:05 +0000 Aileen Chuang,Enoch Yiu Aileen Chuang,Enoch Yiu Hong Kong on Monday launched a five-year fintech strategy, pledging to advance artificial intelligence and tokenisation initiatives responsibly to strengthen the city’s position as a leading fintech hub. The Hong Kong Monetary Authority (HKMA), which unveiled the plan at the flagship Fintech Week conference, said it expected to launch more than 40 initiatives to embed AI in finance, build a financial tokenisation ecosystem, create data and payment infrastructure, and enhance sector-wide... https://www.scmp.com/business/banking-finance/article/3331294/hong-kong-unveils-fintech-strategy-future-proof-city-ai-and-tokenisation?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3331294/hong-kong-unveils-fintech-strategy-future-proof-city-ai-and-tokenisation?utm_source=rss_feed Mon, 03 Nov 2025 06:08:52 +0000 Enoch Yiu Enoch Yiu Led by HSBC, Hong Kong’s major banks cut their prime lending rates – to a historic low of 5 per cent in some cases – on Thursday, further reducing funding costs to help reboot the city’s businesses and reduce the burden on mortgage borrowers. The Hong Kong Monetary Authority (HKMA) cut the base rate by a quarter point to 4.25 per cent on Thursday morning, hours after the US Federal Reserve pared its target rate by the same margin to a range of 3.75 per cent to 4 per cent during the seventh... https://www.scmp.com/business/banking-finance/article/3330832/hong-kong-follows-us-quarter-point-interest-rate-cut-reduce-loans-cost-borrowers?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3330832/hong-kong-follows-us-quarter-point-interest-rate-cut-reduce-loans-cost-borrowers?utm_source=rss_feed Wed, 29 Oct 2025 23:00:44 +0000 Julie Zhang Julie Zhang The Hong Kong Monetary Authority (HKMA) has decided to focus development of the e-HKD on wholesale applications because the central bank digital currency (CBDC) has stronger potential value in large transactions than in daily retail use. The city’s de facto central bank announced the decision on Tuesday after a second phase of e-HKD trials that tested its usability and efficiency in both retail and wholesale scenarios over the past year. A CBDC is a digital version of a fiat currency built using... https://www.scmp.com/business/banking-finance/article/3330604/hong-kongs-e-hkd-better-suited-wholesale-use-retail-hkma-says?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3330604/hong-kongs-e-hkd-better-suited-wholesale-use-retail-hkma-says?utm_source=rss_feed Tue, 28 Oct 2025 09:00:13 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s lived-in home prices rose 1.3 per cent in September, logging their biggest gains so far this year and reaching their highest in more than a year, amid optimism that the residential market has bottomed out. The city’s rental prices, meanwhile, inched within a hair of their historical peak, data from the Rating and Valuation Department showed on Tuesday. The latest monthly increase in secondary home prices marks the sixth consecutive month in which the official index has either... https://www.scmp.com/business/article/3330573/hong-kong-home-prices-post-years-biggest-gain-rents-climb-near-peak?utm_source=rss_feed https://www.scmp.com/business/article/3330573/hong-kong-home-prices-post-years-biggest-gain-rents-climb-near-peak?utm_source=rss_feed Tue, 28 Oct 2025 06:13:20 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong property sales in September increased in both volume and value, according to official data, as the city’s real estate sector finds support from easing monetary policy and a resurgent stock market. Total deals in September – covering new and lived-in homes, office spaces, shops, car parking slots and industrial units – rose 6.3 per cent from a month earlier to 6,870 units, with the total value rising 11.9 per cent to HK$53.48 billion (US$6.87 billion), according to data from the Land... https://www.scmp.com/business/article/3327675/hong-kong-property-deals-surge-anew-september-rate-cut-buoyant-stocks?utm_source=rss_feed https://www.scmp.com/business/article/3327675/hong-kong-property-deals-surge-anew-september-rate-cut-buoyant-stocks?utm_source=rss_feed Fri, 03 Oct 2025 01:30:19 +0000 Enoch Yiu Enoch Yiu Prime views of the fireworks, a reception with Hong Kong actor Tony Leung Chiu-wai, lucky draws and investment seminars were some of the incentives Hong Kong banks were rolling out to attract wealthy mainland customers during the golden week holiday, which kicked off on Wednesday. Hong Kong authorities have estimated that as many as 1.54 million mainland visitors, including 1,200 tour groups, would cross the border during the eight-day “golden week” holiday, which coincides with China’s National... https://www.scmp.com/business/banking-finance/article/3327533/hong-kong-banks-woo-wealthy-mainland-golden-week-tourists-tony-leung-fireworks?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3327533/hong-kong-banks-woo-wealthy-mainland-golden-week-tourists-tony-leung-fireworks?utm_source=rss_feed Thu, 02 Oct 2025 00:30:10 +0000 Enoch Yiu Enoch Yiu The latest round of the Hong Kong government’s Silver Bonds attracted a record number of subscriptions in both quantity and value, as the city’s elderly investors seized the opportunity to secure better returns than those offered by bank deposits. The total applications for the three-year Silver Bonds were twice the government’s latest issuance of HK$50 billion (US$6.4 billion). Investors submitted 373,000 bids for HK$98.52 billion worth of bonds during the offering period, which ended at 2pm on... https://www.scmp.com/business/banking-finance/article/3327274/hong-kongs-silver-bonds-attract-record-demand-senior-citizens?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3327274/hong-kongs-silver-bonds-attract-record-demand-senior-citizens?utm_source=rss_feed Mon, 29 Sep 2025 13:12:55 +0000 Aileen Chuang Aileen Chuang The US$15 trillion Eurobond market could offer Chinese issuers a gateway to international investors and greater flexibility as their funding needs grow, according to executives at clearing house Euroclear. The Eurobond market, the world’s third-largest debt market after the US and China, allows companies and governments to raise capital outside their home markets and currencies, without necessarily being tied to Europe or the euro. “The Eurobond market is highly international and flexible,... https://www.scmp.com/business/banking-finance/article/3326971/eurobonds-us15-trillion-market-offers-chinese-issuers-path-global-investors?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3326971/eurobonds-us15-trillion-market-offers-chinese-issuers-path-global-investors?utm_source=rss_feed Sun, 28 Sep 2025 23:30:12 +0000 Enoch Yiu Enoch Yiu Hong Kong’s monetary authority will launch a Renminbi (RMB) Business Facility from next month to support banks in offering yuan loans to companies, a move that aims to promote trade finance and direct investment as the city strengthens its role as an offshore yuan hub. The new facility would replace the 100 billion yuan (US$14 billion) in trade finance liquidity introduced in February, with several major enhancements to be rolled out in the following months, said Eddie Yue Wai-man, chief... https://www.scmp.com/business/banking-finance/article/3327022/hong-kong-expand-access-us14-billion-yuan-facility-promote-use-reduce-cost?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3327022/hong-kong-expand-access-us14-billion-yuan-facility-promote-use-reduce-cost?utm_source=rss_feed Fri, 26 Sep 2025 10:04:31 +0000