https://www.scmp.com/rss/522506/feed The latest news and top stories on EY, a leading global professional services firm, headquartered in London, United Kingdom and one of the "Big Four" accounting organisations. EY provides extensive services including assurance, tax, consulting and strategy and transactions to Fortune 500 businesses and large organisations worldwide. Known for its strong market position and consistent ranking among top employers, EY focuses on “Building a better working world” through innovation, technology and... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Themis Qi Themis Qi HSBC CEO Georges Elhedery has vowed to continue investing in China amid escalating trade tensions after witnessing new trade opportunities from Chinese companies going global. While attending the two-day China Development Forum (CDF) 2026 in Beijing on Sunday, Elhedery characterised China’s current trajectory as a “new phase of development” that would define the next era of global economic growth. Although 2025 saw steady growth in global trade, the landscape was complicated by shifting tariffs,... https://www.scmp.com/business/banking-finance/article/3347465/hsbc-vows-keep-investing-china-amid-global-tensions-new-trade-corridors-emerge?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347465/hsbc-vows-keep-investing-china-amid-global-tensions-new-trade-corridors-emerge?utm_source=rss_feed Sun, 22 Mar 2026 06:27:09 +0000 Agence France-Presse Agence France-Presse From tracking the trajectory and speed of a footballer’s strike to monitoring a Tour de France rider’s real-time power output, performance athlete data is deepening its reach in sports, with specialised firms eyeing to score big business. The potential is huge, analysts say, not just for helping coaches further refine training and game-day strategies, but for providing novel content to broadcasters or enticing fans to online betting markets. Sports data analysis has surged since the days of... https://www.scmp.com/sport/other-sport/article/3343877/sports-data-revolution-ai-reshaping-athletes-performances-gives-fans-content-boost?utm_source=rss_feed https://www.scmp.com/sport/other-sport/article/3343877/sports-data-revolution-ai-reshaping-athletes-performances-gives-fans-content-boost?utm_source=rss_feed Wed, 18 Feb 2026 07:00:10 +0000 Biman Mukherji Biman Mukherji India’s newly unveiled budget signals a bid to cement its status as a global manufacturing powerhouse through a raft of policy measures, but analysts say the US$630 billion allocation will still require supplement as the country seeks new markets to diversify its trade. The measures, rolled out in Finance Minister Nirmala Sitharaman’s budget speech on Sunday, are seen to have addressed two critical issues – creating jobs for young workers, comprising the world’s largest youth pool, as well as... https://www.scmp.com/week-asia/economics/article/3342124/india-eyes-global-manufacturing-powerhouse-status-budget-boost?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3342124/india-eyes-global-manufacturing-powerhouse-status-budget-boost?utm_source=rss_feed Mon, 02 Feb 2026 11:06:04 +0000 James David Spellman James David Spellman The largest wealth transfer in history will accelerate the tilt of economic influence to the East as investment priorities change and women – who are set to inherit a growing share of assets – gain financial clout. The implications will ripple across geopolitics, financial markets and fiscal policies. Financial research firm Cerulli predicts that globally, an estimated US$124 trillion is expected to change hands by 2048. The 2023 Hurun Wealth Report estimated that heirs in China will receive... https://www.scmp.com/opinion/china-opinion/article/3340166/how-generational-wealth-transfer-will-reshape-chinas-economy?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3340166/how-generational-wealth-transfer-will-reshape-chinas-economy?utm_source=rss_feed Tue, 20 Jan 2026 08:30:08 +0000 Xinyi Wu Xinyi Wu China has made strengthening export control rules and safeguarding supply-chain resilience top priorities this year, as officials move to secure the nation’s economic interests amid rising geopolitical friction. The Ministry of Commerce said it would enhance legal frameworks and risk prevention and tighten the “safety net for opening up” as one of eight core work areas, according to a statement released on Sunday after its annual work conference in Beijing. China has increasingly used export... https://www.scmp.com/economy/china-economy/article/3339612/china-prioritises-export-controls-supply-chain-security-shield-economy-2026?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3339612/china-prioritises-export-controls-supply-chain-security-shield-economy-2026?utm_source=rss_feed Mon, 12 Jan 2026 11:30:10 +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 Biman Mukherji Biman Mukherji For much of the past year, Asian exporters have been racing to stay ahead of a global tariff storm – re-routing shipments, reconfiguring supply chains and absorbing rising costs as the United States tightened its trade barriers. Now another pressure point is emerging. From the start of next year, Mexico plans to impose import duties of up to 50 per cent on a wide range of goods from Asia, threatening to choke off a key workaround companies have relied on to maintain access to the North American... https://www.scmp.com/week-asia/economics/article/3337107/mexicos-50-tariff-shock-shuts-asias-north-american-trade-bypass?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3337107/mexicos-50-tariff-shock-shuts-asias-north-american-trade-bypass?utm_source=rss_feed Sat, 20 Dec 2025 05:30:09 +0000 Enoch Yiu Enoch Yiu Hong Kong and mainland China are set to see more corporate restructuring and liquidation in commercial real estate, restaurants and retail shops in 2026 due to the weak economy and changes in consumer behaviour, according to veteran liquidator Derek Lai Kar-yan. The challenging economic environment, however, provides opportunities for experts like Lai, 60, who is known in the industry as the “King of Liquidation”. He left Deloitte after 36 years with the firm and last week was appointed by EY as... https://www.scmp.com/business/companies/article/3336386/hong-kong-see-more-debt-restructuring-amid-weak-economy-says-king-liquidation?utm_source=rss_feed https://www.scmp.com/business/companies/article/3336386/hong-kong-see-more-debt-restructuring-amid-weak-economy-says-king-liquidation?utm_source=rss_feed Mon, 15 Dec 2025 23:30:10 +0000 Associated Press Associated Press Britain’s unpopular centre-left Labour government sought to seize the political narrative on Wednesday with a tax-raising budget that it hopes will boost economic growth by fostering a stable debt outlook, reduce child poverty and ease cost-of-living pressures. But the entire contents of the budget were leaked half an hour before Treasury chief Rachel Reeves delivered the budget statement in the House of Commons, in a sign of the chaos that has engulfed the government during weeks of mixed... https://www.scmp.com/news/world/europe/article/3334265/uks-reeves-unveils-tax-plan-amid-embarrassing-budget-leak?utm_source=rss_feed https://www.scmp.com/news/world/europe/article/3334265/uks-reeves-unveils-tax-plan-amid-embarrassing-budget-leak?utm_source=rss_feed Wed, 26 Nov 2025 13:30:18 +0000 Mia Nurmamat Mia Nurmamat Local Chinese authorities have stepped up efforts to collect taxes from citizens with unreported overseas income, urging them to remain compliant as the country refines its taxation system and local governments seek to broaden revenue streams. At least six tax authorities – including city-level administrations in Shenzhen, Beijing and Xiamen, along with provincial-level bureaus in Guangdong, Fujian and Sichuan – said they had used big data analysis to identify individuals who failed to report... https://www.scmp.com/economy/china-economy/article/3332633/china-tightens-tax-scrutiny-citizens-overseas-income-amid-fiscal-pressures?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3332633/china-tightens-tax-scrutiny-citizens-overseas-income-amid-fiscal-pressures?utm_source=rss_feed Thu, 13 Nov 2025 09:00:26 +0000 Joseph Sipalan Joseph Sipalan Malaysians hoping for a boost from next month’s budget should brace themselves for disappointment, economists warn, as Prime Minister Anwar Ibrahim’s room to hand out cash and subsidies shrinks with US tariffs starting to bite. Anwar, who is also finance minister, is expected to present a budget on October 10 that bolsters small and medium-sized businesses and scales up Malaysia’s capabilities in the semiconductor, electric vehicles and rare earths sectors. But the projected fall in US demand... https://www.scmp.com/week-asia/economics/article/3325990/malaysia-braces-budget-constraints-us-tariffs-weigh-growth?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3325990/malaysia-braces-budget-constraints-us-tariffs-weigh-growth?utm_source=rss_feed Thu, 18 Sep 2025 09:00:49 +0000 Paul McNamara Paul McNamara Seb Brien has said the chance to remain best in the region is all the incentive Hong Kong need as they begin the Asia Rugby Sevens Series. It is just as well: there is further to climb to reach the global elite this time. Not that Brien lacks motivation, having battled back from a serious injury suffered last year and managed to start a business and get married during his enforced downtime. Now he is returning to action for the city’s men, who start this year’s Asian competition in Hangzhou this... https://www.scmp.com/sport/rugby/hk-sevens/article/3325902/hong-kong-sevens-ace-was-sent-devastating-email-now-hes-fit-take-world?utm_source=rss_feed https://www.scmp.com/sport/rugby/hk-sevens/article/3325902/hong-kong-sevens-ace-was-sent-devastating-email-now-hes-fit-take-world?utm_source=rss_feed Wed, 17 Sep 2025 23:45:07 +0000 Brian Wong Brian Wong A Hong Kong court has extended convicted forger Peter Chan Chun-chuen’s bankruptcy by four years, citing his failure to settle debts owed to the estate of the late tycoon Nina Wang Kung Yu-sum since losing a high-profile lawsuit over her billion-dollar assets 15 years ago. The High Court on Tuesday suspended Chan’s automatic discharge from a bankruptcy order made in 2021 and ordered that he pay HK$55,000 (US$7,000) in legal fees to an accounting firm that is now in charge of his assets. EY,... https://www.scmp.com/news/hong-kong/law-and-crime/article/3324850/hong-kong-court-extends-bankruptcy-man-who-forged-nina-wangs-will-4-years?utm_source=rss_feed https://www.scmp.com/news/hong-kong/law-and-crime/article/3324850/hong-kong-court-extends-bankruptcy-man-who-forged-nina-wangs-will-4-years?utm_source=rss_feed Tue, 09 Sep 2025 05:49:36 +0000 Biman Mukherji Biman Mukherji Faced with punishing US tariffs, Indian Prime Minister Narendra Modi has sought to turn crisis into opportunity, unveiling a historic tax overhaul that he says will deliver a “double Diwali” for households and businesses alike. In a wide-ranging Independence Day address on August 15, Modi unveiled the most significant revamp of India’s Goods and Services Tax (GST) in a decade – pitched as both an economic stimulus and a political statement of resilience. It comes after US President Donald... https://www.scmp.com/week-asia/economics/article/3322848/india-slashes-taxes-blunt-us-tariff-shock-modis-double-diwali?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3322848/india-slashes-taxes-blunt-us-tariff-shock-modis-double-diwali?utm_source=rss_feed Sat, 23 Aug 2025 09:00:08 +0000 Biman Mukherji Biman Mukherji In boardrooms and backstreets from Singapore to Hanoi, owners of Asia’s small and medium-sized enterprises had barely got over the shock of the pandemic’s economic upheaval when another disruption arrived – this time from Washington, in the form of new tariffs that risk upending cross-border commerce and livelihoods. Following a series of hard-fought trade negotiations with the Trump administration, many Southeast Asian nations now find themselves confronting US tariffs ranging from 19 to 20 per... https://www.scmp.com/week-asia/economics/article/3322041/us-tariffs-put-asias-small-businesses-road-ruin-ultimately-some-will-go-under?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3322041/us-tariffs-put-asias-small-businesses-road-ruin-ultimately-some-will-go-under?utm_source=rss_feed Sun, 17 Aug 2025 02:00:17 +0000 Yew-Poh Mak Yew-Poh Mak By the time they expand internationally, most Chinese companies have been through a Hunger Games-like winnowing process that makes them formidable competitors on the global stage. As well as being tempered by the fire of a hyper-competitive domestic economy, they have also been nurtured by a policy framework designed to support the best innovators with preferential taxes and access to financing. This unique model has produced the corporate equivalent of apex predators in global sectors from... https://www.scmp.com/opinion/china-opinion/article/3316697/compete-asia-must-learn-how-china-breeds-apex-predators?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3316697/compete-asia-must-learn-how-china-breeds-apex-predators?utm_source=rss_feed Fri, 04 Jul 2025 01:30:08 +0000 Biman Mukherji Biman Mukherji The successful arrival of Indian astronaut Shubhanshu Shukla at the International Space Station (ISS) marks a pivotal moment in the country’s evolving space strategy and signals its desire to join the ranks of global space powers, analysts have said. The move was also a stepping stone towards India’s first independent crewed mission by 2027 under the Gaganyaan programme, they added. The initiative is India’s effort to become the fourth country – after Russia, the United States and China – to... https://www.scmp.com/week-asia/politics/article/3316169/india-space-power-delhi-eyes-lift-sector-after-astronaut-iss-milestone?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3316169/india-space-power-delhi-eyes-lift-sector-after-astronaut-iss-milestone?utm_source=rss_feed Fri, 27 Jun 2025 14:21:12 +0000