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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.
Five-tael (190 grams or 6.65 ounces) gold bars are seen at a jewellery store in Hong Kong as China is urged to become a global gold hub as Trump’s instability spooks central banks worldwide. Photo: Reuters
Gold in Hong Kong

As France pulls gold from the US, how can China become the next global gold hub?

Federal Reserve is no longer seen as a ‘safe’ place for nations to store gold as Trump’s unpredictability spooks the world’s central banks.

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Standard Chartered Bank

More global firms eye Hong Kong for cheaper yuan loans, bonds: StanChart

Artificial intelligence

Opinion | How AI and geopolitical rivalry are breaking economic orthodoxy

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Capital gains tax

‘No alternative but to comply’: investors’ foreign income in China’s crosshairs

Ministry says 11.5% growth in personal income tax revenue partly driven by ‘significant rise in income from share transfers and dividends’.

Some mainland Chinese retail investors are considering shifting their capital to US-based brokerages. Photo: Getty Images/AFP
IPO

Barclays boosts Hong Kong presence to tap thriving IPO market

C.S. Venkatakrishnan said the bank is increasing its outlay on talent and technology across its investment banking and trading units.

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.

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Biomedicine: Companies

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

Mainland’s stock market watchdog is discouraging establishment of ‘red-chip-structured’ companies in sensitive industries.

Many Chinese biotech and tech firms favour red-chip structures. Photo: Shutterstock
Yuan

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

Many yuan transactions are now routed through China’s own global payment system, which often does not show up in traditional data sets, 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.

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.

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

US President Donald Trump and first lady Melania at the Kennedy Centre for the opening night of the musical Chicago on March 31. Oil trades spiked by half a billion dollars minutes before Trump posted a pause on the US attack on Iranian energy sites. Photo: Getty Images via AFP
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.

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.

A residential building under construction by China Vanke in Hangzhou, Zhejiang province, in March 2024. Photo: AFP
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.

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.

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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.

EnerVenue, named by Time magazine as one of the top 10 US green technology companies in 2025, has developed processes to lower the total life-cycle costs of energy storage systems. Photo: Handout
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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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.

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.

The headquarters of Bank of China (Hong Kong) in Central, April 26, 2021. Photo: Sam Tsang
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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A Chinese biotech company is hoping AI technology will help to boost profits and speed up chromosome testing which is a vital part of In vitro fertilisation. Photo: Dreamstime/TNS
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.

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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Illustration: Henry Wong
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.

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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