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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.
China should tax the ultra-rich’s property and income streams to align government incentives with protecting property rights and stabilising expectations, a prominent economist has said. Photo: Reuters
China property

Ex-adviser urges China to tackle inequality with higher taxes on ultra-rich

Raising taxes on assets, incomes of high earners will add to state revenues and incentivise protecting property rights, economist says.

China trade

Pakistan to tap China debt market with first sale of yuan-priced ‘panda bonds’

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Britain

Investors bet CK Hutchison is exiting a mature sector at right time – once again

US, Israel war on Iran

US tells banks to flag suspected Iranian money-laundering networks

Banks are asked to look out for oil labelled ‘Malaysian blend’ to disguise its Iranian origin and missing or falsified shipping documents.

Vessels anchored in the Strait of Hormuz off Bandar Abbas in southern Iran. Photo: ISNA via AFP
China property

China’s bond market faces climbing re-defaults as property crisis drags on

Re-defaults erode credit differentiation as homebuyer confidence weakens under slow income growth and high leverage, analysts warn.

Hong Kong stock market

China’s ChiNext Index up 3.5% as global semiconductor rally broadens

Tech-heavy index breaches the 3,900-point mark amid strong signals from Beijing that it is committed to chip self-sufficiency.

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Japan

Macroscope | How Japan’s new economic model could inspire others to ‘look east’

As Tokyo seeks to boost its economic security, policymakers are tapping into household wealth and assets to advance industrial ambitions.

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Japanese Prime Minister Sanae Takaichi delivers a speech at a New Year’s reception hosted by three economic organisations in Tokyo on January 6. Photo: AFP
US Federal Reserve

Trump’s pick for Fed chair says he’ll stay independent. Does he mean it?

Kevin Warsh said at a confirmation hearing he would not become the US president’s ‘human sock puppet’, but concerns over interference persist.

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Singapore

Singapore shines as a stable investment oasis in a global storm

Wealthy families are trading global uncertainty for Singapore’s regulatory rigour, driving record inflows and a revitalised stock exchange.

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US-China relations

China plan to be global arbitration hub fighting Western distrust: experts

China’s newly revised Arbitration Law marks the most significant overhaul of the country’s commercial dispute framework since 1994.

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China’s newly revised Arbitration Law took effect in March. Photo: Shutterstock
Bonds

Hong Kong secures US$3.5 billion to fund Northern Metropolis and green projects

Global investors pile into city’s latest bond sale, with orders 7.6 times oversubscribed, backing its green finance ambitions.

The Northern Metropolis project aims to transform 30,000 hectares of land in the New Territories into a centre for innovation and technology. Photo: Edmond So
China's economic recovery

Wall Street giants lead China-profit surge despite market polarisation

Major investment banks expand market share in China, with Goldman reclaiming the revenue lead while Shengang keeps its asset crown.

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Gold in Hong Kong

Hong Kong prepares for gold futures trading: will the fourth time be the charm?

As HKEX eyes relaunch of gold futures, experts suggest extended hours, tax breaks, and storage facilities to ensure success.

Hong Kong economy

Opinion | Hong Kong needs the people’s wisdom for its 5-year plan to succeed

The city can fuse market dynamism with strategic direction – but the key is support from the private sector and the public.

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People run along the Island Eastern Corridor in North Point during the Standard Chartered Hong Kong Marathon in 2025, with Lion Rock in the background. Photo: Eugene Lee
Gold in Hong Kong

Editorial | Middle East war offers Hong Kong a golden opportunity

The war has driven home how well suited Hong Kong is to becoming an alternative to Dubai, a major gold trading hub.

A dealer holds gold bars in a shop in Dubai’s Gold Souk in 2025. Some Middle Eastern gold merchants have sold physical gold in Hong Kong at a steep discount, making the city a bargain-hunting hotspot. Photo: AFP
Commodities

Hong Kong pushes gold futures relaunch as mainland China reserves climb

City aims to broaden gold offerings and expand clearing and storage facilities to seize opportunities in the surging market.

China’s private sector

After accounting overhaul, can Wuliangye share buys restore investor confidence?

Investors welcome Wuliangye’s multibillion-yuan share purchase plan after weak earnings and industry destocking hit sentiment.

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Artificial intelligence

Kimi developer Moonshot AI valued at US$20b as it navigates new IPO rules

Firm raised US$2 billion from investors including Meituan’s venture and China Mobile, taking total to US$3.9 billion in the last six months.

Moonshot AI, best known for its Kimi chatbot, saw its annual recurring revenue exceed US$200 million in April. Photo: Shutterstock
Central banks

Macroscope | Australia’s interest rate rise signals growing hawkish stance in Asia

Reserve Bank of Australia is less an outlier than a harbinger of global monetary trends in the wake of war-induced supply shocks.

Yuan

China sets yuan at strongest level in 3 years as US dollar jitters simmer

Beijing is pushing for a stronger yuan to help globalise the currency, but the upswing could create issues for the country’s export giants.

LME

Hong Kong sharpens commodities hub ambitions with mediation and yuan push

Financial Secretary Paul Chan Mo-po sees “clear room” for more yuan-denominated commodities products as Hong Kong explores mediation role.

Financial Secretary Paul Chan Mo-po speaks at the LME Asia Metals Seminar 2026 in Hong Kong today. Photo: ISD
Bonds

Chinese household appliance maker Midea seeks US$2.2b from convertible bond sale

Midea looks to tap into the debt market to fund its overseas expansion and boost offshore liquidity amid rising sentiment on the stock.

A staff member works at a Midea Group microwave oven factory in Foshan, Guangdong province. Photo: Xinhua
Bonds

Editorial | A blooming bond market shows trust in Hong Kong dollar assets

The latest Hong Kong dollar-denominated offerings encourage more issuers from Hong Kong and overseas to explore local‑currency financing.

CK Hutchison

CK Hutchison’s VodafoneThree exit sparks dividend speculation

Disposal of stake in UK’s biggest mobile carrier adds HK$2 billion profit, but conglomerate unlikely to declare special dividend: Citigroup.

Indonesia

Can Indonesia turn holiday island Bali into a global financial hub?

Having a financial centre on the island will help boost national economic competitiveness, officials say.

The sun rises behind boats moored at a pier near Denpasar on Indonesia’s resort island of Bali on April 12. Photo: AFP
Business of climate change

Canadian Solar elevates Hong Kong role amid industry slump, geopolitical strain

Energy storage unit EP Cube eyes Hong Kong hiring and potential IPO as the group expands into higher-value markets.

Canadian Solar says it is elevating Hong Kong as a base to diversify beyond the US and move into higher-value segments. Photo: Shutterstock
Art

Are NFTs the hero or villain in the contemporary art scene?

In March, Art Basel Hong Kong featured a dedicated space for digital practices, raising the question: what’s next for non-fungible tokens?

HSBC

HSBC profit flat as Middle East provisions offset wealth growth

HSBC stock slides 5.2 per cent as higher credit charges linked to Middle East uncertainty and UK exposure offset wealth business growth.

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