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Banking & finance

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Banking & finance
News about the global financial industry with a focus on developments in Hong Kong and China.
ICBC plans to distribute about 110.6 billion yuan, a payout ratio of 30 per cent, marking its fifth consecutive year above the 100 billion yuan threshold. Photo: Reuters
Bank of China (BOC)

ICBC and CCB lead China’s biggest banks in US$61 billion dividend payout

Record payouts come as regulators push listed companies to enhance dividend frequency and predictability.

Biomedicine: Companies

Stricter Chinese scrutiny of offshore vehicles a blow for tech IPO candidates

Yuan

China’s yuan may be going global faster than Western data suggests, analysts say

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Hong Kong Monetary Authority (HKMA)

Editorial | Stablecoin launch delay shows Hong Kong would rather be safe than sorry

Given the complexity involved, it’s wise not to rush to meet any self-imposed deadline but to make sure a good framework is in place first.

Hong Kong plans to be a digital asset hub with stablecoins playing a key role. Photo: Shutterstock
HSBC

Manulife, HSBC, Barclays lead big finance firms’ AI adoption in Hong Kong

Financial Secretary Paul Chan Mo-po launched an AI+ strategy in this year’s budget speech to promote AI applications in the banking sector.

Stocks

Opinion | From the US to Hong Kong, there’s no excuse for insider trading

Far from a victimless crime, insider trading steals from the rest of us by unfairly using knowledge that is available only to the privileged.

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Bonds

China’s JD.com returns to dim sum bond market with 10b yuan offering

The e-commerce giant is issuing the yuan-denominated notes in two tranches of 7.5 billion yuan and 2.5 billion yuan.

S&P Global Ratings has assigned an ‘A-’ long-term rating to JD.com’s notes. Photo: Reuters
China economy

Opinion | Global businesses are piling back into China, drawn by its stability

For all its structural challenges, China offers something the West no longer seems to: policy continuity and a sense of stability.

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China property

Top Chinese developers’ losses mount as debt overhaul props up operations

Analysts say subdued demand and cautious buyers persist, with one-off debt restructuring masking deeper losses in the sector.

Cryptocurrency

Hong Kong’s anticipated stablecoin licence by end-March does not materialise

Analysts say the delay is most likely administrative and that the overall plan is still on track.

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Hong Kong’s stablecoin initiative is part of efforts to become a global digital-asset hub. Photo: Getty Images
Hong Kong property

La Mirabelle sells in hours as developers ramp up sales, buyers fret over rates

All 254 Tseung Kwan O flats snapped up as developers step up supply and demand stays firm.

La Mirabelle in Harbour Bay is to be developed in two phases, each comprising about 1,200 units, for a total of 2,550 units. Photo: Handouit
China stock market

Iran war hits stocks as Hong Kong IPO boom falters

Conflict in the Middle East hammered Asian stocks in March, adding to the challenges facing Hong Kong’s IPO rush.

Hong Kong

Hong Kong tycoon-backed start-up raises US$300 million to scale battery push

The California-based firm will use new funding to scale manufacturing and expand globally, with Hong Kong anchoring its regional push.

Hong Kong economy

Opinion | Dubai’s loss could be Hong Kong’s gain, but only if city is ready

The case for Hong Kong as a recipient of displaced Gulf wealth is sound but the city must ensure it has the capacity to absorb new capital and talent.

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Illustration: Craig Stephens
Bonds

Exclusive | HKU kicks off roadshow for US$385 million bond to back Northern Metropolis plan

Roadshows arranged by bankers including HSBC Holdings will draw banks, insurers, pension funds and asset managers in the coming days.

The University of Hong Kong (HKU) is targeting proceeds of between HK$2 billion and HK$3 billion as part of the proposed bond deal. Photo: Dickson Lee
Mainland China

BOCHK reports 5% net profit growth for 2025 on bad debt exposure

BOCHK’s real estate loans were mainly to state-backed enterprises including Vanke, the latest mainland developer to come under pressure.

Biomedicine: Companies

Chinese company to use AI-powered testing to boost profits and fast-track IVF

China’s falling fertility rate sees spike in demand for assisted reproduction as biotech firm raises US$101 million from Hong Kong listing.

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Artificial intelligence

What is Yuanjie, the Chinese chipmaker whose share price has soared nearly 900%?

Yuanjie’s rise underscores how China’s optical chip firms are riding the AI infrastructure boom, with data centre demand driving growth.

Many companies have capitalised on China’s AI infrastructure build-out. Photo: AFP
Biomedicine: Companies

Insilico Medicine signs AI drug development deal with Eli Lilly

Reaching development, regulatory and commercial milestones could see value of deal hit around US$2.75 billion.

Yuan

Open Questions | Kenneth Rogoff on why China’s yuan will be a reserve currency within 5 years

Harvard economist explains why cryptocurrencies will never take the US dollar’s place, despite their popularity in underground economies.

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War and conflict

Macroscope | Iran war’s ripple effects are just getting started for Asia

From tariffs to supply chain disruption, Asian economies reliant on energy imports find themselves cornered between compounding crises.

A pedestrian walks past a petrol station in Tokyo, Japan, on March 18. Photo: EPA
Hong Kong property

Hong Kong developers test market with 222 units released amid rate uncertainty

So far this year, 5,500 new residential units have been sold in Hong Kong, a 25 per cent increase compared to the same period last year.

An aerial view of the Kowloon district of Hong Kong. Photo: Sam Tsang
China shipbuilding

Iran war exposes a weakness in China’s vast shipping sector: a lack of insurers

China’s maritime sector still relies on overseas legal and financial service providers, a potential strategic vulnerability in a turbulent world.

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IPO

Tong Ren Tang unit pulls Hong Kong IPO in first postponement this year

Hospital-network operator delays plan to raise up to US$115 million amid tepid demand.

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Hong Kong stock market

China’s CNOOC to boost oil and gas output amid Middle East strife

Country’s largest producer aims to increase output by up to 3 per cent from 2025’s record level.

An undated photo shows a CNOOC oil rig in the Lingshui 36-1 gas field in waters southeast of Hainan, China’s southernmost island province. Photo: Handout via Xinhua
IPO

Hong Kong holds No 3 ranking as global capital hub amid market volatility

Latest index underscores Hong Kong’s role as a leading global finance hub, with strength in fintech, banking and insurance.

Hong Kong maintained a leading position globally across key industry sectors, including banking, insurance and financial services. Photo Jelly Tse
Artificial intelligence

China’s Kuaishou slumps as analysts flag growth pressure despite strong results

Short-video giant’s core advertising and live-streaming businesses face headwinds while AI investments weigh on margins, analysts say.

China’s private sector

China’s Jiangsu Aidea eyes Hong Kong IPO as gateway to US, European Aids markets

Yangzhou-based drug maker views Hong Kong as a ‘good window’ for its international expansion in HIV and Aids treatments.

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