https://www.scmp.com/rss/519944/feed The lastest news on KPMG, including company news, top stories and updates. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Oscar Liu Oscar Liu Nearly a quarter of Hong Kong companies are expected to widely adopt AI this year, a threefold increase from a year ago, while a growing number of business leaders believe the technology will result in smaller headcounts, a survey has revealed. Professional services firm KPMG released the Hong Kong Employment Outlook 2026 on Wednesday, with the poll showing that 24 per cent of organisations were set to widely adopt artificial intelligence (AI), up from just 8 per cent in the previous... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349370/24-hong-kong-firms-widely-adopt-ai-smaller-headcounts-expected-kpmg?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349370/24-hong-kong-firms-widely-adopt-ai-smaller-headcounts-expected-kpmg?utm_source=rss_feed Wed, 08 Apr 2026 08:20:39 +0000 Coco Feng Coco Feng Chinese tech companies from Tencent Holdings to AgiBot have named millennials and even Gen Z talent as chief scientists to lead cutting-edge research into artificial intelligence and robotics. The most watched is Vinces Yao Shunyu, who turns 28 this year. He is a former researcher at OpenAI and joined Tencent in December as chief AI scientist under the CEO’s office, reporting directly to president Martin Lau Chi-ping. A graduate of Princeton University and Tsinghua University, Yao was a core... https://www.scmp.com/tech/big-tech/article/3343042/chinese-ai-and-robotics-firms-appoint-millennial-and-gen-z-rising-stars-chief-scientists?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3343042/chinese-ai-and-robotics-firms-appoint-millennial-and-gen-z-rising-stars-chief-scientists?utm_source=rss_feed Thu, 19 Feb 2026 04:00:07 +0000 Agence France-Presse Agence France-Presse Consumer inflation in the US cooled slightly more than expected in January, government data showed Friday, as energy prices dipped. Analysts say the figure allows the Federal Reserve to cut interest rates again later this year, but warn that policymakers need to see sustained improvement to do so – despite US President Donald Trump’s insistence that there is virtually no inflation. The consumer price index (CPI) rose 2.4 per cent year-on-year, the Department of Labour said, down from December’s... https://www.scmp.com/news/world/united-states-canada/article/3343541/us-inflation-cools-more-expected-kindling-hopes-fed-rate-cut?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3343541/us-inflation-cools-more-expected-kindling-hopes-fed-rate-cut?utm_source=rss_feed Fri, 13 Feb 2026 16:57:55 +0000 Agence France-Presse Agence France-Presse The US trade deficit sharply widened in November as imports picked up, according to government data released Thursday, reversing an unexpectedly big pullback in the prior month lauded by US President Donald Trump. The trade gap surged by 94.6 per cent in November to US$56.8 billion, Commerce Department data showed, bringing it close to levels seen in June and August last year. The shift reflected fluctuations in goods like gold and pharmaceuticals, in a year already marked by major swings in... https://www.scmp.com/news/world/united-states-canada/article/3341742/us-trade-deficit-widens-sharply-reversing-big-pullback-lauded-trump?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3341742/us-trade-deficit-widens-sharply-reversing-big-pullback-lauded-trump?utm_source=rss_feed Thu, 29 Jan 2026 17:55:13 +0000 Yeon Woo Lee Yeon Woo Lee Chinese tourist numbers are recovering across Asia after a pandemic-era contraction, buoyed by the expansion of visa-free policies and a stronger yuan. But one thing has not returned: the spending sprees that used to boost duty-free retailers around the world. The trend can be clearly seen in South Korea, which relied on Chinese travellers for 70 per cent of its duty-free sales before Covid-19. Around 5 million visitors from China arrived in the country during the first 11 months of 2025, a... https://www.scmp.com/economy/china-economy/article/3339833/why-are-chinese-tourists-spending-less-overseas?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3339833/why-are-chinese-tourists-spending-less-overseas?utm_source=rss_feed Wed, 14 Jan 2026 08:00:11 +0000 Kolette Lim Kolette Lim For businesses in Singapore, such as skincare chain Kskin, the global trade environment has become more challenging in recent years as a result of hurdles ranging from rising costs and US tariffs to fast-changing regulations. Kskin began venturing overseas in 2023 and has opened outlets in Malaysia, the Philippines and the US. Due to the tariffs, the costs of Kskin’s equipment and products have risen in recent months. Brian Ng, the firm’s director, told This Week in Asia: “Our margins [at... https://www.scmp.com/week-asia/economics/article/3339397/singapore-businesses-list-rising-costs-and-tariffs-their-biggest-challenges?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3339397/singapore-businesses-list-rising-costs-and-tariffs-their-biggest-challenges?utm_source=rss_feed Sun, 11 Jan 2026 06:30:09 +0000 Xinyi Wu Xinyi Wu More Chinese travellers are pivoting from mass-market sightseeing to bespoke adventures to ring in the new year, fuelling a surge in demand for pet-friendly itineraries and winter excursions as service consumption defies a broader economic gloom. “Tailored travel is gaining traction,” online travel platform Fliggy said in a December 23 statement, citing a shift towards immersive “experiences that go beyond sightseeing”, favouring more memorable moments and personalisation. In particular,... https://www.scmp.com/economy/china-economy/article/3338357/chinas-service-sector-shines-holidaymakers-embrace-pet-travel-and-bespoke-adventures?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3338357/chinas-service-sector-shines-holidaymakers-embrace-pet-travel-and-bespoke-adventures?utm_source=rss_feed Thu, 01 Jan 2026 06:00:22 +0000 SCMP Editorial SCMP Editorial Hong Kong’s initial public offering (IPO) market has ended a banner year with a big bang. Six new listings on the second last trading day marked a busy year that catapulted the city back to the world’s top spot for IPOs and made the Hang Seng Index one of the best stock performers. Led by US-based drug-discovery specialist Insilico Medicine, the six firms raised a total of HK$6.99 billion (US$899 million) while no fewer than 26 debutants started trading in December. The IPO market, as of... https://www.scmp.com/opinion/comment/article/3338251/hong-kongs-ipo-market-rings-2026-high-note?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3338251/hong-kongs-ipo-market-rings-2026-high-note?utm_source=rss_feed Wed, 31 Dec 2025 23:15:14 +0000 Aileen Chuang Aileen Chuang Six companies debuted on the Hong Kong stock exchange on Tuesday, capping a year that reaffirmed the city’s dominance as the world’s top initial public offering (IPO) market and one of the best-performing benchmarks. The six debutants raised a combined HK$6.99 billion (US$899 million), adding to several sizeable deals this year. As of Tuesday, the Hong Kong IPO market raised HK$285.8 billion from 119 listings, with first-day trading showing an average share price gain of nearly 40 per cent,... https://www.scmp.com/business/banking-finance/article/3338086/insilico-medicine-leads-sextet-hong-kong-ipos-capping-banner-year-fundraising?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3338086/insilico-medicine-leads-sextet-hong-kong-ipos-capping-banner-year-fundraising?utm_source=rss_feed Tue, 30 Dec 2025 01:40:43 +0000 Enoch Yiu Enoch Yiu Hong Kong-based accounting firms plan to continue expanding their workforce in 2026, hoping to attract newly minted accountants, even as the industry steps up the adoption of artificial intelligence, according to industry players. “We do not believe AI is a replacement for humans, and we have not seen any reduction in hiring in the past nor do we plan to [reduce hiring] in future,” said Andrew Wong, partner of audit quality and professional practice at KPMG China. “We see AI and our people as... https://www.scmp.com/business/banking-finance/article/3337933/hong-kong-accounting-firms-plan-hiring-spree-and-embrace-ai-attract-talent?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3337933/hong-kong-accounting-firms-plan-hiring-spree-and-embrace-ai-attract-talent?utm_source=rss_feed Mon, 29 Dec 2025 04:00:10 +0000 Julie Zhang Julie Zhang Three in four multinational corporations (MNCs) operating in mainland China have maintained or increased their investments in 2025, according to a recent KPMG survey, despite Washington stepping up efforts to decouple from Beijing and its allies following suit. The survey published on Monday, polling 137 senior executives from global companies operating in the world’s second-largest economy between June and September, revealed that only 1 per cent reported preparing to exit the market. About 20... https://www.scmp.com/business/banking-finance/article/3337381/global-firms-turn-ma-evs-and-biotech-deepen-china-investment-kpmg?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3337381/global-firms-turn-ma-evs-and-biotech-deepen-china-investment-kpmg?utm_source=rss_feed Tue, 23 Dec 2025 01:30:22 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong Investment Corp (HKIC), the government’s investment arm, on Tuesday appointed 10 asset managers spanning venture capital, private equity, private credit and hedge funds to oversee at least HK$3 billion (US$385 million) under its enhanced cash-for-residency scheme. HKIC said in a statement that the new batch of managers for the investment portfolio under the New Capital Investment Entrant Scheme (New CIES) included Hong Kong-headquartered Value Partners, one of Asia’s largest asset... https://www.scmp.com/business/article/3334873/hong-kong-taps-value-partners-9-others-manage-us385-million-residency-scheme-fund?utm_source=rss_feed https://www.scmp.com/business/article/3334873/hong-kong-taps-value-partners-9-others-manage-us385-million-residency-scheme-fund?utm_source=rss_feed Tue, 02 Dec 2025 07:36:30 +0000 Enoch Yiu Enoch Yiu It was rare to see hundreds of regulators, financiers and executives of listed companies – including chairmen and CEOs – come together in Central on Sunday morning without striking deals. Instead, they were taking part in a charity run, raising HK$9.7 million (US$1.2 million). The top bosses of Hong Kong Exchanges and Clearing (HKEX), JPMorgan, DBS Hong Kong, Standard Chartered Bank, KPMG and Wharf (Holdings) were among those who had put on their running shoes to compete in relay races over 388... https://www.scmp.com/business/banking-finance/article/3333749/jpmorgan-dbs-standard-chartered-bosses-swap-deals-sneakers-hkex-charity-run?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3333749/jpmorgan-dbs-standard-chartered-bosses-swap-deals-sneakers-hkex-charity-run?utm_source=rss_feed Sun, 23 Nov 2025 04:30:08 +0000 Jean Iau Jean Iau Across Southeast Asia, millions of young people are launching start-ups and driving rapid digitalisation, with new unicorns emerging in a sign that the region is becoming a global force in entrepreneurship, according to former Indonesian president Joko Widodo. Speaking at the closing of the Bloomberg New Economy Forum on Friday, Widodo said the next unicorn – meaning a privately held start-up valued at more than US$1 billion – might emerge not from Silicon Valley or Shenzhen but from Jakarta,... https://www.scmp.com/week-asia/economics/article/3333728/widodo-hails-southeast-asias-rise-global-force-entrepreneurship?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3333728/widodo-hails-southeast-asias-rise-global-force-entrepreneurship?utm_source=rss_feed Fri, 21 Nov 2025 11:17:19 +0000 Joseph Sipalan Joseph Sipalan Once awash with venture capital, Asia’s start-up ecosystem is now weathering a deep freeze as investors reassess their risk exposure amid global economic uncertainty and China’s growth slowdown. For regional entrepreneurs, the flight of risk capital has turned into a crisis, with funds seeking refuge in safer markets. Malaysian venture capitalists told This Week in Asia that fierce competition for a dwindling pool of funds had become the new normal. “What winter? It’s the constant weather here,”... https://www.scmp.com/week-asia/economics/article/3332860/malaysias-start-ups-shiver-through-venture-capital-deep-freeze?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3332860/malaysias-start-ups-shiver-through-venture-capital-deep-freeze?utm_source=rss_feed Sat, 15 Nov 2025 07:00:15 +0000 Cao Li Cao Li In a central Wuhan shopping centre, a banner for a new Pop Mart hangs where an Air Jordan store once stood. When the store famous for the wildly popular Labubu figures opens early next year, it will sit next to a Tiffany & Co boutique and across from a Prada shop on the ground floor – space traditionally reserved for high-end purveyors of apparel, jewellery and cosmetics. The mall in the capital of central China’s Hubei province is not an isolated case. Pop Mart and fellow makers of collectible... https://www.scmp.com/business/china-business/article/3331948/how-chinas-emotional-spending-trend-transforming-shopping-malls?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3331948/how-chinas-emotional-spending-trend-transforming-shopping-malls?utm_source=rss_feed Mon, 10 Nov 2025 01:30:10 +0000 Enoch Yiu Enoch Yiu Hong Kong has seen a sharp increase in wealthy clients opening accounts to manage their assets this year, surpassing other centres like Singapore as the most favourable destination for asset management, according to a report released on Thursday by the Private Wealth Management Association (PWMA) and KPMG China. Some 44 per cent of PWMA members, including top global private banks like UBS, BNP Paribas, HSBC, Morgan Stanley and JPMorgan, said their clients preferred Hong Kong over other cities –... https://www.scmp.com/business/banking-finance/article/3331739/hong-kong-roars-ahead-top-wealth-hub-overtaking-singapore?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3331739/hong-kong-roars-ahead-top-wealth-hub-overtaking-singapore?utm_source=rss_feed Thu, 06 Nov 2025 06:46:50 +0000 Enoch Yiu Enoch Yiu Hong Kong has seen an increasing number of women taking leadership roles in the financial and professional industries, a trend that bodes well for the city’s future talent development and economic growth, according to Financial Secretary Paul Chan Mo-po. “Research consistently shows that organisations with diverse leadership, including women at the helm, are more agile, more empathetic, more creative and better equipped to achieve long-term success,” Chan said at the first Women Chief Executives... https://www.scmp.com/business/article/3331330/hong-kongs-women-leaders-drive-finance-talent-and-economic-growth-paul-chan?utm_source=rss_feed https://www.scmp.com/business/article/3331330/hong-kongs-women-leaders-drive-finance-talent-and-economic-growth-paul-chan?utm_source=rss_feed Mon, 03 Nov 2025 08:59:39 +0000 SCMP Editorial SCMP Editorial In terms of Hong Kong mega-events, the inaugural Women Chief Executives summit today is likely to be overshadowed by the Global Financial Leaders’ Investment Summit, in which women will also be taking part. But that does not fully reflect the growth in the representation of women at senior levels in recent years. A striking example is to be found in Hong Kong’s vibrant financial sector, with a sustained rise in the number of women taking senior positions and directorships. According to a joint... https://www.scmp.com/opinion/comment/article/3331210/womens-leadership-finance-affirms-hong-kongs-commitment-diversity?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3331210/womens-leadership-finance-affirms-hong-kongs-commitment-diversity?utm_source=rss_feed Sun, 02 Nov 2025 23:15:12 +0000 Alice Wu Alice Wu More than 200 C-suite women senior executives, including global chief executives and chief financial officers, are gathering in the epicentre of Hong Kong’s financial district for the city’s first ever Women Chief Executives summit today. The conference is symbolic as much as it is significant. Women in this city have progressed by leaps and bounds over the past decade. A recent report by one of the summit’s organisers, the Women Chief Executive Network, as well as KPMG and the Women’s... https://www.scmp.com/opinion/hong-kong-opinion/article/3331112/hong-kong-must-do-more-empower-women-workforce?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3331112/hong-kong-must-do-more-empower-women-workforce?utm_source=rss_feed Sun, 02 Nov 2025 21:30:08 +0000 Reuters Reuters Companies around the globe have ramped up job cuts, with blue-chip firms from Amazon.com to Nestlé and UPS reining in spending, while consumer sentiment dims and artificial intelligence-focused tech companies start to replace business roles with automation. According to a Reuters tally, American companies have announced more than 25,000 job cuts this month, not including UPS’ 48,000 figure, which dates from the beginning of 2025. In Europe, the total tops 20,000, with Nestlé accounting for the... https://www.scmp.com/business/companies/article/3330742/global-companies-ratchet-job-cuts-amid-weak-sentiment-ai-push?utm_source=rss_feed https://www.scmp.com/business/companies/article/3330742/global-companies-ratchet-job-cuts-amid-weak-sentiment-ai-push?utm_source=rss_feed Wed, 29 Oct 2025 06:51:28 +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 Julie Zhang Julie Zhang The Hong Kong stock exchange is poised for a blockbuster day next week, as four stocks – including Sany Heavy Industry, China’s largest construction machinery manufacturer – are set to debut, positioning the city to reclaim its status as the world’s top fundraising venue this year. Among the four stocks launching on October 28, Sany Heavy Industry, already listed in Shanghai, aims to raise the highest amount, targeting up to HK$12.36 billion (US$1.59 billion) by offering 580.42 million shares in... https://www.scmp.com/business/banking-finance/article/3329637/hong-kong-set-ipo-flurry-sany-heavy-industry-leading-charge?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3329637/hong-kong-set-ipo-flurry-sany-heavy-industry-leading-charge?utm_source=rss_feed Mon, 20 Oct 2025 06:00:15 +0000 Mandy Zuo Mandy Zuo As China drafts its 15th five-year plan – the next entry in a line of expansive blueprints that have set the tone for the country’s development over more than seven decades – we examine how these documents inform and reflect high-level policy priorities, what to expect in the coming iteration and why food security is set to remain a cornerstone in Beijing’s push for self-reliance. For more stories in this ongoing series, click here. To view SCMP Plus Factsheets on the 15th five-year plan and... https://www.scmp.com/economy/china-economy/article/3329086/why-chinas-next-5-year-plan-will-double-down-food-security?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3329086/why-chinas-next-5-year-plan-will-double-down-food-security?utm_source=rss_feed Wed, 15 Oct 2025 22:00:09 +0000 Jay Rooney Jay Rooney Cody Mo Wai-kit slotted a race-to-race double in fine style at Sha Tin on Sunday, scoring with talented three-year-old Motor before Emblazon landed a late betting plunge. Placed in two of his five Griffin starts as a two-year-old, Motor returned in a blaze of glory to record a comfortable victory in the Class Four Sam Shing Handicap (1,200m). Backing up a recent trial win at Conghua, the son of Fastnet Rock had a cosy run in the box seat before soaring to the lead under Derek Leung Ka-chun at... https://www.scmp.com/sport/racing/article/3326312/cody-mo-slots-running-double-while-sky-trust-continues-hot-form-caspar-fownes-and-ellis-wong?utm_source=rss_feed https://www.scmp.com/sport/racing/article/3326312/cody-mo-slots-running-double-while-sky-trust-continues-hot-form-caspar-fownes-and-ellis-wong?utm_source=rss_feed Sun, 21 Sep 2025 13:02:10 +0000 SCMP Editorial SCMP Editorial The initial public offering (IPO) game has never much favoured small retail investors. With red-hot IPOs, they usually only receive a small allotment, if at all. With less-popular IPOs, woe to those who manage to get all their subscribed lots as that pretty much signals a price fall at debut. New rules now in place mean allotment chances for retail investors will get even smaller, especially with popular IPOs. Market insiders and experts, however, argue that this is not necessarily a bad... https://www.scmp.com/opinion/comment/article/3321960/ipo-allotment-rule-changes-make-market-healthier-whole?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3321960/ipo-allotment-rule-changes-make-market-healthier-whole?utm_source=rss_feed Fri, 15 Aug 2025 22:45:08 +0000 Gigi Wong Gigi Wong Hong Kong is experiencing a resurgence in IPO activity with global investor interest in artificial intelligence (AI) companies from mainland China a key component of the growth. A particular catalyst behind this surge was the high-profile launch in January of DeepSeek, a Shenzhen-developed large language model that shifted global perceptions of China’s AI capabilities. This sparked a flurry of listings in Hong Kong with 15 IPOs announced in the first quarter of 2025, according to KPMG, including... https://www.scmp.com/special-reports/article/3317343/deepseek-and-other-chinese-ai-models-spark-investor-interest-hong-kong-ipos?utm_source=rss_feed https://www.scmp.com/special-reports/article/3317343/deepseek-and-other-chinese-ai-models-spark-investor-interest-hong-kong-ipos?utm_source=rss_feed Tue, 08 Jul 2025 22:00:13 +0000 Julie Zhang Julie Zhang Hong Kong’s stock exchange could experience a surge in new listings in the second half of the year, with total proceeds for the year estimated to reach up to HK$250 billion (US$32 billion), following efforts to promote the city’s capital markets, according to KPMG. Between 100 and 130 companies were expected to launch initial public offerings (IPOs), partner Irene Chu said, bringing the total proceeds to between HK$200 billion and HK$250 billion for the year. The final tally would depend on... https://www.scmp.com/business/banking-finance/article/3317412/hong-kong-ipos-gather-pace-proceeds-seen-doubling-second-half-kpmg-says?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3317412/hong-kong-ipos-gather-pace-proceeds-seen-doubling-second-half-kpmg-says?utm_source=rss_feed Tue, 08 Jul 2025 10:04:56 +0000 Julie Zhang Julie Zhang A slew of mainland-listed Chinese technology companies are speeding up fundraising plans in Hong Kong to capitalise on the upbeat market sentiment. Hong Kong’s equity market has been buoyed by mainland investors’ record buying of HK$731.2 billion (US$93.1 billion) of stocks in the first half of the year, according to Hong Kong Exchanges and Clearing (HKEX) data and Bloomberg on Monday. The buying spree, driven by attractive valuations and a re-rating of China’s technology sector, has led to a... https://www.scmp.com/business/banking-finance/article/3316643/chinese-firms-eye-hong-kong-listings-after-mainland-investors-us93-billion-buying-spree?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3316643/chinese-firms-eye-hong-kong-listings-after-mainland-investors-us93-billion-buying-spree?utm_source=rss_feed Wed, 02 Jul 2025 09:00:15 +0000 Aileen Chuang Aileen Chuang The adoption of artificial intelligence (AI) and corporate realignment in response to trade and tariffs is expected to present significant opportunities for Hong Kong banks, according to a KPMG executive. Opportunities would arise as the financial performance of the city’s banking sector this year might lack growth drivers, with “interest rates, margins and loans unlikely to change significantly”, said Paul McSheaffrey, senior banking partner for Hong Kong at the consultancy. Last year, Hong... https://www.scmp.com/business/banking-finance/article/3316389/hong-kong-banks-can-leverage-ai-and-trade-changes-growth-amid-global-challenges-kpmg?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3316389/hong-kong-banks-can-leverage-ai-and-trade-changes-growth-amid-global-challenges-kpmg?utm_source=rss_feed Wed, 02 Jul 2025 01:30:15 +0000 Aileen Chuang Aileen Chuang Shares of a few dozen China-based start-ups may be up for grabs as their investor, US venture-capital firm Eight Roads, plans to exit its Chinese technology holdings. The move, reported by Bloomberg on Tuesday, comes as geopolitical tensions and a sluggish Chinese economy prompt some global investors to retreat. Domestic and government-backed funds and financing products would increasingly drive start-up funding in the world’s second-largest economy, analysts said. Fidelity Ventures-backed Eight... https://www.scmp.com/business/china-business/article/3314052/us-firm-unload-stakes-40-chinese-tech-start-ups-venture-funding-turns-inward?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3314052/us-firm-unload-stakes-40-chinese-tech-start-ups-venture-funding-turns-inward?utm_source=rss_feed Wed, 11 Jun 2025 23:30:08 +0000 Cao Li Cao Li Green Tea Group had a tepid trading debut in Hong Kong on Friday, as traders sidestepped its small stock sale in anticipation of the world’s largest initial public offering (IPO) so far this year next week. Shares of the Hangzhou-based restaurant chain fell to end their first trading day at HK$6.29, a decline of 12.5 per cent from the HK$7.19 offer price. The company raised HK$1.21 billion (US$154.7 million) by selling 168 million shares. Of the four IPO debuts since April 28 in Hong Kong, Green... https://www.scmp.com/business/companies/article/3310568/green-tea-makes-tepid-trading-debut-hong-kong-traders-gird-catls-ipo-next-week?utm_source=rss_feed https://www.scmp.com/business/companies/article/3310568/green-tea-makes-tepid-trading-debut-hong-kong-traders-gird-catls-ipo-next-week?utm_source=rss_feed Fri, 16 May 2025 03:03:35 +0000 Yulu Ao Yulu Ao Venture capital investment in Asia-Pacific fell to the lowest level in more than a decade last quarter, while mega deals involving US artificial intelligence (AI) companies attracted capital and stole the limelight, according to KPMG. Funding across the region dropped 32 per cent to US$12.9 billion from the preceding three months, the accounting firm said in a report on Thursday, while deal volume shrank 15 per cent to 2,149, with weaker activity in major investment markets like China, India and... https://www.scmp.com/business/china-business/article/3309599/asia-pacific-venture-capital-funding-hits-decade-low-us-steals-limelight-kpmg-says?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3309599/asia-pacific-venture-capital-funding-hits-decade-low-us-steals-limelight-kpmg-says?utm_source=rss_feed Thu, 08 May 2025 11:00:15 +0000 Yuke Xie Yuke Xie A number of mainland China companies are making plans for initial public offerings (IPOs) or secondary listings in Hong Kong, a trend that augurs well for the city’s effort to claw its way back to the top of the global league table of fundraising destinations. Wang Xingxing, the founder of humanoid-robotics start-up Unitree, told Hong Kong’s chief executive John Lee Ka-chiu during his visit to Hangzhou last week that a listing in the city remains a future consideration, local media... https://www.scmp.com/business/markets/article/3308167/chinas-unitree-open-hong-kong-ipo-auntea-jenny-tech-firms-move-ahead-listings?utm_source=rss_feed https://www.scmp.com/business/markets/article/3308167/chinas-unitree-open-hong-kong-ipo-auntea-jenny-tech-firms-move-ahead-listings?utm_source=rss_feed Mon, 28 Apr 2025 05:59:59 +0000 Mark Gong Mark Gong China was one of the top destinations for fintech investments in Asia-Pacific (APAC) in the first half of the year, but it mirrored a global decline, as investors tread with caution amid high interest rates and geopolitical uncertainty, according to KPMG. Fintech investment worldwide fell nearly 17 per cent to US$51.9 billion in the six months to June, compared with US$62.3 billion in the second half of 2023, according to the consultancy’s Pulse fintech report on Thursday. The number of deals... https://www.scmp.com/business/banking-finance/article/3273910/china-hogs-apac-fintech-funds-first-half-amid-global-decline-investor-caution-kpmg?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3273910/china-hogs-apac-fintech-funds-first-half-amid-global-decline-investor-caution-kpmg?utm_source=rss_feed Fri, 09 Aug 2024 10:00:34 +0000 Yuke Xie Yuke Xie China dominated Asia’s subdued venture capital scene in the second quarter, as state-backed investors poured money into sectors such as artificial intelligence (AI), electric vehicles (EV) and semiconductors to bolster the nation’s technological prowess. China accounted for six of the top 10 venture-capital investments in the Asia-Pacific region, according to a report published by KPMG on Thursday. A total of 2,155 deals worth US$17.4 billion were reached in the three months to June. The deal... https://www.scmp.com/business/banking-finance/article/3271878/china-drives-asias-venture-capital-market-6-top-10-quarterly-deals-kpmg?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3271878/china-drives-asias-venture-capital-market-6-top-10-quarterly-deals-kpmg?utm_source=rss_feed Thu, 25 Jul 2024 23:30:08 +0000 Mia Castagnone Mia Castagnone Hong Kong’s banks saw moderate growth to their balance sheets last year as the high interest rate environment continued to boost profitability, according to a KPMG report on Wednesday. The banking sector saw a significant rise in overall operating profit in 2023, and as interest rates are expected to remain relatively high and decrease gradually in the next year or so, banks will continue to reap rewards, the consultancy said. “As the higher rates persist generally through the second half,... https://www.scmp.com/business/banking-finance/article/3268889/hong-kong-banks-reap-rewards-high-interest-rates-until-late-next-year-kpmg-says?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3268889/hong-kong-banks-reap-rewards-high-interest-rates-until-late-next-year-kpmg-says?utm_source=rss_feed Wed, 03 Jul 2024 03:30:13 +0000 Jobseekers in Hong Kong should not get their hopes up in case they are looking to land a job or switch employers, as companies are pessimistic about the overall economic outlook. Slightly over a quarter of companies expect to raise staffing levels this year, compared with 37 per cent last year, while some 16 per cent expect to reduce headcount because of a slowdown in business activity in the city, according to a KPMG survey on Thursday. While hiring sentiment in the real estate sector was the... https://www.scmp.com/business/china-business/article/3255359/hong-kongs-hiring-market-remain-soft-employers-are-concerned-about-challenging-economic-outlook-kpmg?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3255359/hong-kongs-hiring-market-remain-soft-employers-are-concerned-about-challenging-economic-outlook-kpmg?utm_source=rss_feed Thu, 14 Mar 2024 08:00:14 +0000 New stock offerings in Hong Kong are expected to generate more than double the amount of funds for companies this year, making the city’s stock exchange one of the five busiest venues globally, according to KPMG. The firm expects 90 initial public offerings (IPOs) to raise HK$100 billion (US$12.8 billion), banking on stronger inter-connectivity with the Middle East and spin-off listing opportunities to fill the pipeline. Positive sentiment among investors in artificial intelligence or AI,... https://www.scmp.com/business/banking-finance/article/3247807/hong-kong-seen-among-five-busiest-ipo-venues-2024-proceeds-doubling-us128-billion-kpmg-forecasts?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3247807/hong-kong-seen-among-five-busiest-ipo-venues-2024-proceeds-doubling-us128-billion-kpmg-forecasts?utm_source=rss_feed Wed, 10 Jan 2024 01:00:13 +0000 A major accounting firm in Hong Kong aiming to lead by example in promoting sustainability and governance has taken up systematic planning, which boosts employee participation, to achieve its philanthropic goals. KPMG hosted a lucky draw bingo game on December 7 for members of the tax and legal departments to raise funds for Operation Santa Claus (OSC), an annual charity drive organised by the South China Morning Post and public broadcaster RTHK. KPMG has donated more than HK$3 million... https://www.scmp.com/news/hong-kong/society/article/3245329/lead-example-staff-accounting-firm-kpmg-team-raise-funds-hong-kongs-operation-santa-claus?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3245329/lead-example-staff-accounting-firm-kpmg-team-raise-funds-hong-kongs-operation-santa-claus?utm_source=rss_feed Sat, 16 Dec 2023 11:33:04 +0000 The Chinese shadow banking giant whose liquidity crisis has fanned fears about financial contagion is planning to restructure its debt and has hired KPMG to conduct an audit of its balance sheet, people familiar with the matter said. Zhongzhi Enterprise Group hired KPMG in late July to review its balance sheet amid a worsening liquidity crunch, said the people, asking not to be identified as the matter is private. The Beijing-based company plans to restructure debt and sell assets after the... https://www.scmp.com/business/china-business/article/3231414/zhongzhi-chinas-troubled-us137-billion-shadow-bank-plans-debt-restructuring-hires-kpmg?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3231414/zhongzhi-chinas-troubled-us137-billion-shadow-bank-plans-debt-restructuring-hires-kpmg?utm_source=rss_feed Thu, 17 Aug 2023 09:21:27 +0000 There is growing optimism among venture capital (VC) investors in Asia about an increase in initial public offerings (IPOs) in mainland China and Hong Kong, despite an overall fall in VC deal value in the second quarter, according to a report by consultants KPMG. VC deal value in Asia in the second quarter was US$20.1 billion, down from US$35.1 billion in the same period last year, with China venture financing accounting for US$9.3 billion of this. Although this was the sixth straight quarterly... https://www.scmp.com/business/banking-finance/article/3230276/vc-deal-value-asia-falls-second-quarter-optimism-grows-about-pick-ipos-hong-kong-and-china-says-kpmg?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3230276/vc-deal-value-asia-falls-second-quarter-optimism-grows-about-pick-ipos-hong-kong-and-china-says-kpmg?utm_source=rss_feed Mon, 07 Aug 2023 23:00:15 +0000 Ongoing reforms to China’s challenged retirement system present big opportunities for global asset managers wanting to tap into the 28 trillion yuan (US$3.8 trillion) potential market, according to a joint report by KPMG China and the Asia Securities Industry and Financial Markets Association (ASIFMA). China’s pension system is in urgent need of reform, as the current framework is unable to cope with the needs of an increasingly elderly population, Eugenie Shen, head of ASIFMA Asset Management... https://www.scmp.com/business/banking-finance/article/3225383/chinas-private-pension-market-could-be-us969-billion-opportunity-foreign-firms-2030-kpmg-report?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3225383/chinas-private-pension-market-could-be-us969-billion-opportunity-foreign-firms-2030-kpmg-report?utm_source=rss_feed Mon, 26 Jun 2023 07:16:03 +0000 Hong Kong banks are expected to benefit from rising interest rates and growing business opportunities after the border reopening this year, although uncertainties around the recovery in mainland China and in the city and the simmering property debt will provide a drag, consultancy firm KPMG said in a report released on Tuesday. Lenders in the city remain cautious in lending to Chinese property developers, who have struggled in making debt repayments in the past few years, said Paul McSheaffrey,... https://www.scmp.com/business/banking-finance/article/3223885/hong-kong-banks-benefit-better-margins-and-incomes-although-uncertain-economic-recovery-property?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3223885/hong-kong-banks-benefit-better-margins-and-incomes-although-uncertain-economic-recovery-property?utm_source=rss_feed Tue, 13 Jun 2023 06:00:11 +0000 Chinese carmakers are expected to capture around 15 per cent of Europe’s electric vehicle (EV) market by 2025, as players such as BYD, Nio, and Li Auto gain popularity among European consumers, according to an economist at KPMG. This would represent a fast step forward for the Chinese car brands, as their cars accounted for less than 10 per cent of the 1.1 million battery electric vehicles (BEVs) sold in Europe last year, according to a report released by KPMG on Monday in Shanghai at China’s... https://www.scmp.com/business/china-business/article/3223875/chinese-electric-cars-capture-15-cent-european-market-2025-leap-forward-exports-kpmg-economist?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3223875/chinese-electric-cars-capture-15-cent-european-market-2025-leap-forward-exports-kpmg-economist?utm_source=rss_feed Tue, 13 Jun 2023 04:30:09 +0000 Hong Kong companies are back in the mood to hire, especially in the consumer and information technology sectors, as the city embarks on its economic recovery following the border reopening with mainland China, according to a report by KPMG. Two in five senior executives in Hong Kong expect to increase their headcount this year, according to KPMG’s salary outlook survey, which polled over 1,300 professionals across six sectors in Hong Kong and mainland China. The six sectors covered in the... https://www.scmp.com/business/banking-finance/article/3214521/hong-kong-reopening-bosses-are-mood-hire-offering-higher-salaries-fill-vacancies-visitors-return?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3214521/hong-kong-reopening-bosses-are-mood-hire-offering-higher-salaries-fill-vacancies-visitors-return?utm_source=rss_feed Thu, 23 Mar 2023 03:30:16 +0000 Many Chinese companies are making disclosures about environment, social and governance (ESG) issues without first performing crucial assessments that should precede any such disclosures to ensure their relevance, according to a study by KPMG. The firm said Chinese companies trail behind their global peers in performing so-called materiality assessments, which allow a company to decide which issues require disclosure by first determining which issues are the most important to the company itself,... https://www.scmp.com/business/article/3207517/many-chinese-firms-are-skipping-step-1-when-it-comes-esg-disclosures-says-kpmg-study-materiality?utm_source=rss_feed https://www.scmp.com/business/article/3207517/many-chinese-firms-are-skipping-step-1-when-it-comes-esg-disclosures-says-kpmg-study-materiality?utm_source=rss_feed Mon, 23 Jan 2023 10:00:16 +0000 Colourful illustrations are projected on a screen as volunteers read stories in English to a group of attentive children. The English story-reading session, held on December 3, was part of an education programme run by professional service firm KPMG China to improve the English, communication skills and confidence of underprivileged children in Hong Kong. “Seldom does anyone read English stories to me. I’ve learned many new English words here,” said attendee Thomas Wei Wentao, an 11-year-old... https://www.scmp.com/news/hong-kong/society/article/3203641/kpmg-china-volunteers-use-their-time-and-skills-empower-hong-kongs-underprivileged-children?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3203641/kpmg-china-volunteers-use-their-time-and-skills-empower-hong-kongs-underprivileged-children?utm_source=rss_feed Mon, 19 Dec 2022 02:00:12 +0000 A team of US regulators is in the final stages of discussions with two Hong Kong accounting firms regarding their audits of mainland Chinese companies facing possible delisting from US exchanges, according to two sources familiar with the situation. This indicates the unprecedented review is nearing its end, and a report may come as soon as the end of this year, potentially deciding the fate of about 168 US-listed mainland firms. Two teams of inspectors from the Public Company Accounting... https://www.scmp.com/business/article/3202994/us-regulator-final-talks-pwc-kpmg-over-audits-mainland-firms-facing-delisting-report-due-soon?utm_source=rss_feed https://www.scmp.com/business/article/3202994/us-regulator-final-talks-pwc-kpmg-over-audits-mainland-firms-facing-delisting-report-due-soon?utm_source=rss_feed Tue, 13 Dec 2022 00:30:08 +0000 Teams of US audit inspectors arrived at the Central offices of accounting firms PwC and KPMG this morning to begin a historic review of the audit records of US-listed, China-based companies, two sources told the South China Morning Post. The inspectors from the Public Company Accounting Oversight Board (PCAOB) arrived in Central on Monday morning to work at the Hong Kong offices of PwC in the Prince’s Building and Edinburgh Tower as well as KPMG’s office in the Prince’s Building, the sources... https://www.scmp.com/business/article/3192982/us-inspectors-arrive-pwc-kpmg-offices-hong-kong-review-chinese-companies?utm_source=rss_feed https://www.scmp.com/business/article/3192982/us-inspectors-arrive-pwc-kpmg-offices-hong-kong-review-chinese-companies?utm_source=rss_feed Mon, 19 Sep 2022 06:04:15 +0000