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Banking & finance

News about the global financial industry with a focus on developments in Hong Kong and China.

Bonnie Chan Yiting (centre), CEO of Hong Kong Exchanges and Clearing, with (left to right) Li Yi, chairman of Beijing 51WORLD Digital Twin Technology; Alex Zhavoronkov, chairman and CEO of Insilico Medicine; Li Zhichen, chairman and CEO of OneRobotics (Shenzhen); Sun Laichun, chairman of Shanghai Forest Cabin Cosmetics Group; Geng Dawei, executive director and general manager of Shenzhen Xunce Technology; and Brian B.Y.Chen, chairman of USAS Building System (Shanghai). The six companies began trading on the Hong Kong exchange on December 30. Photo: Sun Yeung

Hong Kong economy

Editorial | Hong Kong’s IPO market rings in 2026 on a high note

The city catapulted itself into the global top spot for initial public offerings in 2025, with another strong pipeline of listings expected this year.

3 hours ago

China housing market gets VAT relief on resales but demand outlook stays subdued

31 Dec 2025 - 5:30PM

‘Ocean’s Eleven’ gang steals millions in cash, gold and jewellery from German bank

31 Dec 2025 - 2:53PM

Hong Kong economy

All Hong Kong retail banks to offer anti-scam service, locking cash in accounts

‘Money Safe’ users will have to meet a bank employee to undergo verification process to ensure their funds are not going to scammers.

30 Dec 2025 - 11:07PMvideocam

Individual bank account holders can designate a certain amount of their cash that cannot be transferred in any way. Photo: Eugene Lee

Hang Seng Bank to leave Hang Seng Index after 53 years if buyout passes

Brokers say the well-established benchmark is unlikely to be affected, as shareholders are poised to back HSBC’s privatisation plan.

30 Dec 2025 - 9:10PM

How China is upgrading its digital yuan for the stablecoin era

Beijing is upgrading its digital currency in response to the rise of stablecoins, but the goal is to create a fundamentally different system.

31 Dec 2025 - 11:10AM

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China’s Zhipu AI launches US$560 million share sale amid heated IPO tech race

The company, marketed overseas as Z.ai, eyes US$6.6 billion valuation with Hong Kong’s first large language model listing.

30 Dec 2025 - 4:16PM

Zhipu AI is moving closer to becoming the first large language model developer listed in Hong Kong. Photo: Shutterstock

Insilico Medicine leads 6 Hong Kong IPOs, capping banner fundraising year

Debutants raise total of US$899 million as exchange wraps up one of the most active months for IPOs since 2021.

30 Dec 2025 - 5:26PM

US Federal Reserve

Trump says preferred Fed pick is ready, again teases firing Powell

US president urges Jerome Powell to resign as he considers a ‘gross incompetence’ lawsuit against the Fed leader.

30 Dec 2025 - 4:38PM

Iran’s president urges dialogue as currency plunge sparks protests

Anger over Iran’s worsening economic situation pushes people onto the streets in Tehran and other cities.

30 Dec 2025 - 4:19PM

Iranian shopkeepers and traders protest against economic conditions as tear gas is fired by anti-riot police in Tehran on Monday. Photo: EPA

China has logged a US$1 trillion trade surplus. Where is all that money going?

Trade surplus growth has not been matched in foreign exchange reserves – a gap analysts said can be explained by private sector outflows.

29 Dec 2025 - 9:00PM

China’s status as the world’s manufacturing leader has helped it record a record trade surplus in 2025. Photo: VCG via Getty Images

Hong Kong Monetary Authority (HKMA)

OCBC, Bangkok Bank, First Abu Dhabi join US$14 billion offshore yuan scheme

Leading banks from Southeast Asia and the Middle East are taking part in the programme, underscoring the city’s push as an offshore yuan hub.

29 Dec 2025 - 6:30PM

Asia housing and property

The View | How AI helped Asia’s real estate sector pass the tariff stress test

While multiple factors are at play, this year’s tech exuberance helped the region’s property markets stay afloat.

29 Dec 2025 - 4:31PM

Hong Kong bond markets, yuan issuance to expand in 2026 under HKMA, SFC road map

HKMA and SFC blueprint to drive multicurrency issuance, with green finance and Bond Connect widening investor base.

29 Dec 2025 - 8:30AM

China launches venture capital fund to lead the charge on tech investment

The fund, which will put state-backed money behind early tech bets, could guide trillions of yuan in private capital to chosen sectors.

26 Dec 2025 - 10:00PMvideocam

China’s new national venture capital fund has made investments in emerging technology like quantum computing an explicit priority. Photo: Xinhua

Opinion | To harness crypto ingenuity, financial threat must first be neutralised

Future of money must be shaped by competition between private ingenuity and public purpose, not by rent seeking and speculative bubbles.

26 Dec 2025 - 8:30PMvideocam

Why Hong Kong is emerging as the world’s AI crossroads between East and West

Hong Kong’s AI sector comprises 500 organisations, 290 companies and 183 investors active in finance, healthcare and government services.

26 Dec 2025 - 2:30PM

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Macroscope | Why Wall Street remains bullish on China amid economic slowdown

Just because fund managers were too bearish on China doesn’t mean their concerns were misplaced – economic fundamentals matter.

26 Dec 2025 - 7:50AMvideocam

People walk across a bridge with a display showing the latest stock exchange and economic data in Shanghai, on November 28. Photo: EPA

China’s offshore yuan breaks major benchmark as appreciation momentum builds

For the first time since 2024, the currency strengthened past the threshold of seven per US dollar – and did it again the next day.

29 Dec 2025 - 12:25PM

China expands digital-yuan push to Singapore and Asean trade routes

PBOC pledges to integrate e-CNY into the New International Land-Sea Trade Corridor, boost adoption in Southeast Asia via China’s CIPS payment network.

24 Dec 2025 - 7:30PM

China Jinmao sells 5-star Ritz-Carlton hotel in Sanya for US$322 million

Asset restructuring aims to boost liquidity as mainland China developers face a prolonged property downturn.

24 Dec 2025 - 5:11PM

Ritz-Carlton Sanya Yalong Bay has demonstrated mature and stable operations with favourable profitability and cash flow, says China Jinmao. Photo: Keith Chan

Wealth management

Billionaire detained in shadow banking scandal in China

Police in Zhejiang have imposed ‘criminal compulsory measures’ against Yu Faxiang and are conducting a probe into his alleged wrongdoings.

24 Dec 2025 - 12:06PM

A 12-metre-tall sculpture of Ultraman Zero stands at an Ultraman-themed venue inside Shanghai Haichang Ocean Park in Shanghai in July 2022. Photo: Getty Images

HKIC ends year on high note but Hong Kong cost of living a drawback for talent

Government-backed fund strengthens VC ecosystem and fosters collaboration, but the city’s high cost of living remains a challenge.

23 Dec 2025 - 10:30AM

Biomedicine: Geopolitics

Global firms turn to M&A in EVs and biotech to deepen China investment: KPMG

Survey of multinational corporations finds optimism in life sciences, healthcare and manufacturing, with half forecasting revenue growth.

23 Dec 2025 - 9:30AM

Opinion | Forget the US dollar. Watch water and energy resources instead

In our increasingly hi-tech-based economy and financial systems, energy and water resources will be macroeconomically critical.

23 Dec 2025 - 9:30AMvideocam

Illustration: Craig Stephens

China Vanke wins bondholders’ reprieve, averts default for now

Holders of the 2 billion yuan note approve extension of grace period to January 28, but deny proposal to defer principal payment for a year.

23 Dec 2025 - 9:28AMvideocam

Vanke is the last major Chinese real estate firm to so far have avoided reneging on its debts amid the multi-year real estate crisis. Photo: AFP

Exclusive | Old lender, new twist: Shanghai Commercial Bank teams up with HashKey on card

The 75-year-old lender will work with the newly listed digital asset exchange to issue a co-branded Visa card for HashKey traders.

23 Dec 2025 - 8:30AM

China to hide bad debt records for pandemic-hit borrowers who repay small loans

New policy by the People’s Bank of China applies to one-off debts up to 10,000 yuan incurred since 2020, aiming to help people rebuild credit.

22 Dec 2025 - 9:00PMvideocam

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