https://www.scmp.com/rss/524079/feed Eddie Yue Wai-man: Appointed Chief Executive of the Hong Kong Monetary Authority (HKMA) in October 2019, he was reappointed for a second term. Having joined the HKMA at its establishment in 1993, his career includes serving as Deputy Chief Executive. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Enoch Yiu Enoch Yiu HSBC’s widespread system outage on Friday was caused by an internal computer failure rather than a cyberattack, according to the head of the Hong Kong Monetary Authority (HKMA). “HSBC informed the HKMA immediately after identifying problems with its online banking services,” said Eddie Yue Wai-man, chief executive of the HKMA, at a media briefing on Monday following a Legislative Council meeting. “Fortunately, the issue was resolved within a few hours and all banking services have since... https://www.scmp.com/business/article/3342045/no-hack-behind-hsbc-banking-outage-hkma-rules-out-cyberattack?utm_source=rss_feed https://www.scmp.com/business/article/3342045/no-hack-behind-hsbc-banking-outage-hkma-rules-out-cyberattack?utm_source=rss_feed Mon, 02 Feb 2026 04:40:50 +0000 SCMP Editorial SCMP Editorial Hong Kong’s Exchange Fund had a stellar year in 2025, having posted its best annual gain since the Hong Kong Monetary Authority was set up more than three decades ago. The HKMA could have celebrated. Instead, its chief executive, Eddie Yue Wai-man, sounded a cautious note about economic uncertainties facing the city going forward. He is right to be cautious as the challenges are both domestic and external. Quite simply, given the high volatility of global capital markets, such outperformance... https://www.scmp.com/opinion/comment/article/3341808/hong-kong-cannot-take-its-exchange-funds-stellar-year-granted?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3341808/hong-kong-cannot-take-its-exchange-funds-stellar-year-granted?utm_source=rss_feed Fri, 30 Jan 2026 22:46:08 +0000 Enoch Yiu Enoch Yiu The Exchange Fund posted its best annual gain since the Hong Kong Monetary Authority (HKMA) was set up in 1993, as solid stock and bond market returns boosted the city’s financial war chest used to defend the local currency. The Exchange Fund’s full-year earnings for 2025 jumped 51 per cent to HK$331 billion (US$42 billion), compared with HK$218.8 billion in 2024, the HKMA said on Wednesday. The returns surpassed the previous record of HK$264 billion set in 2017. “Overall, the global financial... https://www.scmp.com/business/banking-finance/article/3341540/exchange-fund-reports-record-earnings-2025?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3341540/exchange-fund-reports-record-earnings-2025?utm_source=rss_feed Wed, 28 Jan 2026 08:50:25 +0000 Enoch Yiu Enoch Yiu China’s central bank will support Hong Kong’s monetary authority to double the amount of yuan liquidity available to local banks, helping them increase yuan lending and enhancing the city’s role as an international offshore centre for the mainland currency. People’s Bank of China (PBOC) deputy governor Zou Lan said at the Asian Financial Forum (AFF) in Hong Kong on Monday that the central bank would provide more funding to allow the Hong Kong Monetary Authority (HKMA) to double the yuan... https://www.scmp.com/business/article/3341220/chinas-central-bank-support-hkma-doubling-yuan-liquidity-hong-kong-lenders?utm_source=rss_feed https://www.scmp.com/business/article/3341220/chinas-central-bank-support-hkma-doubling-yuan-liquidity-hong-kong-lenders?utm_source=rss_feed Mon, 26 Jan 2026 05:18:24 +0000 Enoch Yiu Enoch Yiu The Hong Kong Monetary Authority (HKMA) expects to work with other financial regulators to promote artificial intelligence adoption in various sectors over the next five years and further advance fintech development, according to the head of the city’s de facto central bank. Under the five-year plan called Fintech 2030 that starts this year, the HKMA would expand the scope of the city’s generative AI sandbox to include more industries as a step towards enhancing risk management, fraud detection... https://www.scmp.com/business/banking-finance/article/3338531/hkma-talks-sfc-insurance-authority-promote-fintech-over-next-5-years?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3338531/hkma-talks-sfc-insurance-authority-promote-fintech-over-next-5-years?utm_source=rss_feed Mon, 05 Jan 2026 00:30:16 +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 SCMP Editorial SCMP Editorial The US Federal Reserve has delivered its last rate cut of the year, a decision that was widely expected by market insiders but which nonetheless deeply divided the voting central banking members. The reduction of the benchmark interest rate by 0.25 percentage points to between 3.5 per cent and 3.75 per cent brings the federal funds rate to its lowest level in more than three years. Thanks to the US-Hong Kong dollar peg, the Hong Kong Monetary Authority (HKMA) accordingly cut its base interest... https://www.scmp.com/opinion/comment/article/3336180/hong-kong-must-find-new-growth-areas-amid-uncertain-us-monetary-policy?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3336180/hong-kong-must-find-new-growth-areas-amid-uncertain-us-monetary-policy?utm_source=rss_feed Fri, 12 Dec 2025 22:45:08 +0000 Enoch Yiu Enoch Yiu When Alvin Kwock, co-founder of digital insurer OneDegree, took part in the inaugural Hong Kong FinTech Week in November 2016, it was held at a venue suitable for only a few hundred people. “As it was the first ever fintech event in Hong Kong, only fintech start-ups were interested, no big financial institutions paid attention,” Kwock said. “People did not have a clear idea of fintech as it was still in an exploratory stage.” In the years since, fintech in Hong Kong has gone through a sea... https://www.scmp.com/business/banking-finance/article/3334469/work-progress-hong-kong-reaps-fruits-fintech-seeds-sown-nearly-10-years-ago?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3334469/work-progress-hong-kong-reaps-fruits-fintech-seeds-sown-nearly-10-years-ago?utm_source=rss_feed Sat, 29 Nov 2025 02:00:10 +0000 Julie Zhang Julie Zhang Hong Kong is ramping up efforts to expand the use of local currencies across the Asia-Pacific region, including developing a local currency debt market, as part of a push to hedge against rising geopolitical risks, according to Hong Kong Monetary Authority (HKMA) CEO Eddie Yue Wai-man. Speaking at the fourth edition of the Asean+3 Economic Cooperation and Financial Stability Forum in Hong Kong on Tuesday, Yue underlined the need to strengthen regional financial ties as Hong Kong and its... https://www.scmp.com/business/banking-finance/article/3334088/hong-kong-pushes-local-currency-use-shield-asia-global-uncertainties?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3334088/hong-kong-pushes-local-currency-use-shield-asia-global-uncertainties?utm_source=rss_feed Tue, 25 Nov 2025 09:59:28 +0000 Enoch Yiu Enoch Yiu Hong Kong’s Exchange Fund posted its biggest nine-month return since the Hong Kong Monetary Authority (HKMA) began releasing the data in 2003, as a bull run in the stock market helped boost the financial war chest used to defend the local currency. The Exchange Fund reported a decline in its third-quarter gains, but cumulative earnings for the first nine months of the year jumped 14.6 per cent to HK$274 billion (US$35 billion), the HKMA, which manages the fund, said in a statement on... https://www.scmp.com/business/banking-finance/article/3332650/hong-kongs-exchange-fund-gains-record-us35-billion-first-9-months-amid-market-rally?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3332650/hong-kongs-exchange-fund-gains-record-us35-billion-first-9-months-amid-market-rally?utm_source=rss_feed Thu, 13 Nov 2025 10:00:36 +0000 Cao Li Cao Li Bourse operator Hong Kong Exchanges and Clearing (HKEX) is making a substantial investment in the Hong Kong Monetary Authority (HKMA)’s CMU OmniClear Holdings, marking a new phase in the development of the city’s financial market infrastructure. The HKEX would invest as much as HK$455 million (US$58.5 million) to acquire a 20 per cent stake in the HKMA’s wholly owned subsidiary, while the HKMA’s Exchange Fund will retain an 80 per cent share, the city’s de facto central bank said on... https://www.scmp.com/business/article/3332419/hkex-invests-hkmas-cmu-omiclear-strengthening-citys-financial-market-infrastructure?utm_source=rss_feed https://www.scmp.com/business/article/3332419/hkex-invests-hkmas-cmu-omiclear-strengthening-citys-financial-market-infrastructure?utm_source=rss_feed Wed, 12 Nov 2025 03:39:45 +0000 Enoch Yiu Enoch Yiu Digital trading in Hong Kong has taken a step forward with the launch of the city’s first Luxembourg-registered tokenised money market fund by US asset manager Franklin Templeton, marking a major development under the Fintech 2030 plan unveiled this week to establish the city as a leading fintech hub. The Franklin OnChain US Government Money Fund, which invests in US government securities and was registered in Luxembourg last year, would be available to institutional and professional investors... https://www.scmp.com/business/banking-finance/article/3331632/franklin-templeton-introduces-tokenised-money-market-fund-hong-kong?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3331632/franklin-templeton-introduces-tokenised-money-market-fund-hong-kong?utm_source=rss_feed Wed, 05 Nov 2025 09:31:53 +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 Cheryl Arcibal Cheryl Arcibal Paris-based private equity (PE) firm Ardian has opened a 4,000 sq ft office in Hong Kong’s main business district, with an eye on growing its US$3 billion investment out of the company’s total US$200 billion in assets under management (AUM). The new office at the Two International Finance Centre in Central marked the company’s fifth location in Asia and would initially have eight permanent staff, according to Jason Yao, the group’s head of Greater China. “The reason we have an office here is to... https://www.scmp.com/business/companies/article/3330943/european-private-equity-firm-ardian-eyes-fresh-growth-new-office-hong-kongs-two-ifc?utm_source=rss_feed https://www.scmp.com/business/companies/article/3330943/european-private-equity-firm-ardian-eyes-fresh-growth-new-office-hong-kongs-two-ifc?utm_source=rss_feed Thu, 30 Oct 2025 23:30:09 +0000 Enoch Yiu Enoch Yiu Challenges from commercial property credit quality will persist for Hong Kong banks next year, though these may be balanced by prospects in capital markets and yuan business, according to the head of the city’s de facto central bank. “The Hong Kong Monetary Authority will continue to monitor the credit quality of the property sector, which will continue to be a challenge for the banking sector next year,” said chief executive Eddie Yue Wai-man in an exclusive interview. However, there was no... https://www.scmp.com/business/banking-finance/article/3330408/property-credit-quality-issues-manageable-hong-kong-banks-hkmas-eddie-yue-says?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3330408/property-credit-quality-issues-manageable-hong-kong-banks-hkmas-eddie-yue-says?utm_source=rss_feed Mon, 27 Oct 2025 02:20:05 +0000 Enoch Yiu Enoch Yiu In an effort to promote a more vibrant image of Hong Kong, the countryside and hiking trails will be showcased to over 300 top bankers attending next week’s Global Financial Leaders’ Investment Summit, which will be opened with a video address by China’s Vice-Premier He Lifeng. BlackRock co-founder Larry Fink and General Atlantic chairman and CEO William Ford will be among the first-time attendees of the fourth edition of the financial summit, which runs from November 3 to 5, according to Hong... https://www.scmp.com/business/banking-finance/article/3330351/boardrooms-hiking-trails-hkma-courts-top-bankers-business-and-leisure?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3330351/boardrooms-hiking-trails-hkma-courts-top-bankers-business-and-leisure?utm_source=rss_feed Sun, 26 Oct 2025 23:30:18 +0000 Enoch Yiu Enoch Yiu Hong Kong note-issuing banks HSBC and Standard Chartered on Monday completed trades at the launch of the city’s cross-boundary bond repurchase (repo) scheme, according to the two lenders. The cross-boundary bond repo business was launched by the Hong Kong Monetary Authority (HKMA) and the People’s Bank of China, alongside other mainland authorities, as the latest initiative to enhance the Bond Connect scheme, which would encourage more international investors to trade in yuan-denominated... https://www.scmp.com/business/banking-finance/article/3327276/hsbc-standard-chartered-complete-first-yuan-repo-under-new-scheme?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3327276/hsbc-standard-chartered-complete-first-yuan-repo-under-new-scheme?utm_source=rss_feed Mon, 29 Sep 2025 13:30:09 +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 Julie Zhang,Aileen Chuang Julie Zhang,Aileen Chuang Hong Kong unveiled a blueprint on Thursday for its fixed income and currency markets, including measures to expand offshore yuan products and liquidity to consolidate its role as an international financial hub. The Roadmap for the Development of Fixed Income and Currency (FIC) Markets, jointly unveiled by the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA), sets out plans to broaden offshore yuan usage and expand cross-border Connect schemes to enhance... https://www.scmp.com/business/banking-finance/article/3326883/hong-kong-launches-road-map-deepen-yuans-role-expand-financial-market?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3326883/hong-kong-launches-road-map-deepen-yuans-role-expand-financial-market?utm_source=rss_feed Thu, 25 Sep 2025 12:39:36 +0000 Enoch Yiu Enoch Yiu Citigroup’s Asia private bank has hired 10 per cent more advisers this year as strong capital inflows have sparked rallies in Hong Kong and other markets in the region, its Hong Kong head said. In an interview on Wednesday, Horace Yip Chi-ho said a growing number of wealthy clients wanted to take advantage of the rallies and were interested in alternative investments like hedge funds and private equity. “We needed to hire more people as we have seen a growing business this year in Asia,... https://www.scmp.com/business/banking-finance/article/3324298/citis-asia-private-bank-ramps-hiring-strong-capital-inflows-drive-regional-rally?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3324298/citis-asia-private-bank-ramps-hiring-strong-capital-inflows-drive-regional-rally?utm_source=rss_feed Thu, 04 Sep 2025 23:30:07 +0000 Xinmei Shen Xinmei Shen Leather goods manufacturer China International Development Corporation (CIDC) has invested HK$100 million (US$13.9 million) to acquire a 20 per cent stake in Hong Kong-based asset tokenisation start-up NVT, signalling growing enthusiasm for digital assets in the city. The partnership would allow CIDC to use NVT’s tokenisation infrastructure, positioning itself as a “global first mover” in converting tangible and intangible assets in the leather goods production ecosystem – such as cash flows,... https://www.scmp.com/tech/blockchain/article/3322800/leather-goods-maker-soars-68-after-investing-us14-million-tokensation-start?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3322800/leather-goods-maker-soars-68-after-investing-us14-million-tokensation-start?utm_source=rss_feed Fri, 22 Aug 2025 09:00:11 +0000 Aileen Chuang Aileen Chuang Hong Kong’s de facto central bank and the city’s largest lender have issued separate statements to assuage concerns about a glut in the commercial property market, saying that the local banking system remained robust and well-capitalised. Risks associated with commercial real estate (CRE) loans were “manageable”, as the classified loan ratio – a measure of borrowings deemed substandard, doubtful, or at loss – shrank slightly to 1.97 per cent in the second quarter, from 1.98 per cent at the end... https://www.scmp.com/business/banking-finance/article/3321765/hkma-hsbc-allay-concerns-about-hong-kongs-property-glut-assure-city-banks-safety?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3321765/hkma-hsbc-allay-concerns-about-hong-kongs-property-glut-assure-city-banks-safety?utm_source=rss_feed Wed, 13 Aug 2025 13:40:31 +0000 Enoch Yiu Enoch Yiu The strong growth of Hong Kong’s private banking and wealth management sectors will drive increased hiring and leasing of office space in the coming years, according to the chief executive of Hong Kong Monetary Authority (HKMA). Major private banks’ assets under management (AUM) in the city rose 14 per cent in the first half of the year compared with the end of December, while they hired more than 400 wealth management experts in the last two years, an increase of 12 per cent, said Eddie Yue... https://www.scmp.com/business/banking-finance/article/3320589/hong-kongs-booming-wealth-sector-lead-hiring-and-office-expansion-hkma-says?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3320589/hong-kongs-booming-wealth-sector-lead-hiring-and-office-expansion-hkma-says?utm_source=rss_feed Sun, 03 Aug 2025 23:30:11 +0000 Enoch Yiu Enoch Yiu Hong Kong’s Exchange Fund reported its biggest interim return in more than two decades, as a bull run in the local stock market and stabilised bonds helped bolster the city’s financial war chest. The Exchange Fund’s first-half earnings jumped by 76.6 per cent to HK$194 billion (US$24.7 billion), driving an 8 per cent annual increase in its total assets to HK$4.297 trillion at the end of June, the Hong Kong Monetary Authority (HKMA) said on Thursday. The interim return surpassed the 2019 record... https://www.scmp.com/business/banking-finance/article/3320288/exchange-funds-return-hits-record-us247-bn-hong-kongs-bull-run-bolsters-war-chest?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3320288/exchange-funds-return-hits-record-us247-bn-hong-kongs-bull-run-bolsters-war-chest?utm_source=rss_feed Thu, 31 Jul 2025 08:58:10 +0000 SCMP Editorial SCMP Editorial People once worried whether stablecoins had any applications in Hong Kong. Now, the concern is that investors are getting a tad too enthusiastic. The stablecoin ordinance was passed in May and will take effect on August 1. The Hong Kong Monetary Authority warned not once but twice this month that some investors were already speculating based on vague concepts from some listed companies. It also cautioned against possible scams, money laundering and terrorism funding. HKMA chief executive Eddie... https://www.scmp.com/opinion/comment/article/3319818/hkma-right-warn-against-market-speculation-over-stablecoins?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3319818/hkma-right-warn-against-market-speculation-over-stablecoins?utm_source=rss_feed Mon, 28 Jul 2025 22:45:07 +0000 Cao Li Cao Li The Hong Kong Monetary Authority (HKMA) is testing a new business credit-scoring system that can help small businesses obtain loans from lenders quickly and cheaply. “We are conducting a proof of concept project to encourage commercial credit reference agency operatives to develop credit scores and benchmark support for corporations,” chief executive Eddie Yue Wai-man said at the Data Summit on Monday. “Digitalised and efficient data infrastructure is essential to support enterprises in... https://www.scmp.com/business/article/3319864/hkmas-credit-scoring-system-speed-loan-process-lower-costs-businesses?utm_source=rss_feed https://www.scmp.com/business/article/3319864/hkmas-credit-scoring-system-speed-loan-process-lower-costs-businesses?utm_source=rss_feed Mon, 28 Jul 2025 11:30:08 +0000 Cao Li Cao Li The Hong Kong Monetary Authority (HKMA) intervened in the foreign exchange market on Tuesday, for the sixth time since late June, purchasing the local currency and raising overnight lending costs in an effort to deter traders seeking to profit from the city’s interest rate differential with the US dollar. The city’s de facto central bank said on Wednesday that it sold US$1.89 billion and bought HK$14.83 billion at HK$7.85 per US dollar during New York trading hours on Tuesday. The authority... https://www.scmp.com/business/banking-finance/article/3318381/hong-kong-fights-carry-trade-pressure-us-dollar-sales-maintain-currency-peg?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3318381/hong-kong-fights-carry-trade-pressure-us-dollar-sales-maintain-currency-peg?utm_source=rss_feed Wed, 16 Jul 2025 04:45:10 +0000 Xinmei Shen Xinmei Shen The Shanghai branch of the regulator overseeing the assets of state-owned enterprises (SOEs) called on these organisations to explore the potential role of stablecoins and other digital assets in trade. The State-owned Assets Supervision and Administration Commission (SASAC) in Shanghai said SOEs must “maintain a keen awareness of emerging technologies” and strengthen research on digital currencies, according to the agency’s statement on Friday. The statement followed SASAC’s study session on... https://www.scmp.com/tech/blockchain/article/3317902/chinas-state-asset-watchdog-explores-potential-role-stablecoins-other-digital-assets?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3317902/chinas-state-asset-watchdog-explores-potential-role-stablecoins-other-digital-assets?utm_source=rss_feed Fri, 11 Jul 2025 13:00:08 +0000