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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.
US Federal Reserve chairman Jerome Powell attends a press conference in Washington on December 10 after the US central bank decided to lower the target range for the federal funds interest rate by a quarter of a percentage point. Photo: Xinhua
US Federal Reserve

Editorial | Hong Kong must find new growth areas amid uncertain US monetary policy

Divisive US Federal Reserve interest rate cut underscores why the city should not look too much to American interest rate cuts to bolster the economy.

China GDP

China to keep high fiscal deficit ratio in 2026 to buoy spending plans: analysts

IPO

Hong Kong needs to attract global champions to broaden fundraising base: FSDC

IPO

China’s generative AI tiger MiniMax pursues Hong Kong IPO to expand global reach

Hong Kong equity market offers platform for mainland Chinese AI firms seeking international investors amid intensifying domestic competition.

MiniMax plans to beef up its research and development. Photo: Handout
Mergers & Acquisitions

Chow Tai Fook sells Australian energy assets for US$4.3 billion

Sembcorp Industries to acquire 100 per cent ownership of Alinta Energy, which Chow Tai Fook acquired in 2017.

Malaysia

‘We’re just trying to survive’: young Malaysians buckle under rising debt

The country has seen a nearly 60 per cent increase in bankruptcies among those under 30 amid rising living costs and access to easy credit.

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Blockchain

Swift tests blockchain with Ant International and HSBC in cross-border trial

By using the ISO 20022 messaging standard, the partners say they can make tokenised deposits interoperable with legacy systems.

Singapore-based Ant International and HSBC connected Ant’s blockchain infrastructure to Swift’s network, allowing real-time cross-border treasury management. Photo: Shutterstock
Interest rates

Six major Hong Kong banks keep prime rates unchanged despite HKMA base rate cut

Savings rates near zero limit room for cuts as lenders protect profitability margins, analysts say.

United States

US Fed delivers quarter-point rate cut as policymakers weigh inflation outlook

Move falls short of Trump’s demands as debate over Fed independence intensifies and markets brace for global spillover effects.

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Chinese offshore investment

China’s sovereign fund reveals it opened London office after Trump win

China Investment Corporation opened its third offshore office in London in December 2024, joining outposts in Hong Kong and New York.

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The City of London financial district’s skyline, as seen from the Thames River. Photo: EPA
IPO

Hong Kong’s IPO juggernaut projected to raise up to US$45 billion in 2026: KPMG

It will be a pivotal year for hi-tech listings, which will help cement Hong Kong’s place at the top of global markets, auditing firm says.

Hong Kong’s IPO market is projected to extend the momentum it built this year driven by mainland Chinese public firms and the tech sector. Photo: Nora Tam
Hong Kong economy

Opinion | As UK-China ties warm, Hong Kong can be a natural bridge

China’s innovation and influence present exciting opportunities for both nations, and Hong Kong plays a unique role in this equation.

Hong Kong property

JD.com’s US$450 million stake in Hong Kong Central tower eases Lai Sun debt woes

JD.com’s latest Hong Kong investment – a half stake in China Construction Bank Tower – will ease balance sheet pressure at Lai Sun.

Hong Kong property

Hongkong Land’s leasing deal with major law firm a sign of ‘flight to quality’

Harneys’ new lease is a sign of firmer demand in prime locations after years of pressure, although citywide rents remain subdued.

An Alexandra House sign at Landmark in Central, December 7, 2023. Photo: Shutterstock Images
Corruption in China

Video | Ex-Chinese banker executed for taking bribes

Bai Tianhui was the second senior figure from Huarong to be sentenced to death and was executed on December 9, 2025.

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Robotics

China’s Deep Robotics raises US$70 million as sector draws more investors

Company founder Zhu Qiuguo says the new funding would be used for research and the recruitment of top robotics talent.

China-Latin America relations

US senators warn of China-cartel links forming a global ‘Silk Road of crime’

At a Senate hearing, officials described Chinese money brokers as key to laundering cartel funds and fuelling the illicit fentanyl trade.

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Cryptocurrency

Hong Kong eyes info sharing on crypto assets to combat tax fraud, evasion

Compliance with OECD framework is of ‘paramount importance’ to maintain Hong Kong’s reputation as a finance hub, secretary says.

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Government aims to complete legislative amendments in the coming year and start automatic exchange of tax information starting in 2028. Photo: Shutterstock
Hong Kong Monetary Authority (HKMA)

Hong Kong financial hub gets gold star for governance, red flag on readiness

Hong Kong has been ranked the world’s No 4 financial hub in a new NYU Abu Dhabi index, but trails rivals on growth and innovation.

HKEX

Hong Kong launches HKEX Tech 100 Index in pivot towards innovation-driven growth

Unveiling of benchmark tracking Hong Kong-listed tech firms comes amid a wave of property stock delistings.

Climate change

Opinion | How Hong Kong can distinguish itself as a climate finance hub

The city should lead by directing capital to projects that modernise grids, electrify transport and accelerate green supply chains.

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Hong Kong already ranks among the world’s leading financial centres and leads Asia in green and sustainable bond issuance. Photo: Sam Tsang
Greater Bay Area

Ageing Hong Kong opens new frontiers for insurers, pensions and cross-border care

As Hong Kong rapidly ages, more are buying insurance and pension products, while others are heading to the mainland for medical treatment.

The government projects that by mid-2036, the city will have 2.4 million elderly residents – around one-third of the population. Photo: Karma Lo
Sovereign wealth fund

Editorial | Investment body adds to coffers and clarity on Hong Kong’s long-term future

The Hong Kong Investment Corporation has made good progress on fulfilling a mandate that goes beyond just generating financial returns.

China stock market

New China guidelines to base asset managers’ pay on the performance of funds

The China Securities Regulatory Commission seeks a performance-based salary mechanism at the country’s 160 mutual fund houses.

Stocks

China’s CSRC pushes brokerages to build global banks and back tech self-reliance

Securities companies should redouble efforts to help turn China into a global financial powerhouse, says CSRC chairman Wu Qing.

Securities companies can aid the tech self-sufficiency strategy by facilitating fundraising and mergers in sectors ranging from artificial intelligence to biopharmaceuticals and green energy, says Wu Qing. Photo: Handout
Hong Kong

Crypto exchange Gate weighs Hong Kong licence return amid high compliance costs

Hong Kong’s policies pose some difficulties and covering the cost of operating locally is difficult, founder and CEO Lin Han says.

Lin Han, founder and CEO of cryptocurrency exchange Gate. Photo: Handout
HSBC

Exclusive | Mainland bank apps beat those in Hong Kong and Singapore, study says

Strong competition from non-bank players in mainland market forces banks to improve continuously, consulting firm Sia says.

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Stocks

Macroscope | Inflated asset prices show markets don’t always know best

With hyperinflated sectors across multiple asset markets, the next crash could be so severe that it prompts a restructuring of global finance.

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