Topic
News about the global financial industry with a focus on developments in Hong Kong and China.
The dozen MPF account providers are due to complete the shift to the new electronic platform, which allows for day-to-day adjustments of holdings, by the end of 2025
De facto central bank aims for first-mover advantage through blockchain technology, providing welcome lift to Hong Kong’s image as global financial centre
The death of Zong Qinghou, formerly China’s richest man, is thrusting his only child into the spotlight. Her family fortune has dwindled as rivals outsell Hangzhou Wahaha Group by latching onto new trends and younger consumers.
President Xi has told financial cadres that their monetary policy toolkit must include a controversial means of injecting liquidity into China’s economy – one that has not been used in two decades.
Bocom paints resilient picture for year ahead despite posting slower profit growth and warning about challenges from property sector.
Paul Chan, Hong Kong’s financial secretary, and Bonnie Chan, the CEO of bourse operator Hong Kong Exchanges and Clearing, were speaking at Fortune Innovation Forum 2024.
‘Impact Link’, or iLink, underscores Hong Kong’s determination to harness its strengths and resources to drive positive change and to assist family offices in using ‘wealth for good’, Financial Secretary Paul Chan says.
People’s Bank of China governor Pan Gongsheng tells the Boao Forum for Asia on Wednesday that established international institutions, including the International Monetary Fund (IMF), are in need of reform.
The 14-storey office tower in West Kowloon will bring the bank’s staff, who are currently spread around the city, under one roof and will also be used to host VIP client meetings. UBS expects to move into the building by 2026.
HSBC Gold Token, which will be available on the lender’s online banking and mobile app, is the first such retail product to be issued by a bank, according to HSBC, as the government pushes for more digital assets to be rolled out for public use.
Alibaba has scrapped the planned Hong Kong IPO for its logistics unit Cainiao, deciding to double down on its investment in the strategically important unit.
Global investors should focus on long-term opportunities in China and take advantage of Hong Kong’s role as a ‘superconnector,’ according to officials and executives from UBS and Primavera Capital.
While PE firms operating in Asia are confident in their core business, they are eyeing alternative assets such as private credit and infrastructure to generate alpha, executives say at the Milken Institute symposium.
The sell-off follows Shenzhen exchange’s statement that it would take action against Citic for failing to fully clarify issues regarding Liangang Optoelectronic’s IPO prospectus.
Hong Kong’s ambitions as a wealth management and family office hub for Asia, offers significant private banking opportunities, top executives at Citigroup say.
Japan overtook China as the biggest private equity market in Asia-Pacific last year, becoming the only country to see an increase in deal activity, according to Bain & Company.
Ping An, China’s largest insurer by market capitalisation, is exploring ways to further expand operations in Hong Kong and the Greater Bay Area, its newly appointed co-CEO said.
The city needs to set financing volume targets, restrict fossil fuel financing and enact a specialised anti-greenwashing law, environmental group says.
Hong Kong’s ambitions of establishing itself as a global technology and research hub received a shot in the arm on Friday after two companies announced expansion and investment plans for the city.
Singapore continues to outrank Hong Kong – albeit by a single point – as the top financial centre in Asia, according to the latest edition of the semi-annual Global Financial Centres Index (GFCI).
With the world facing a US$4 trillion green investment gap a year, transition finance will grow in importance because of regulatory support in Asia, experts say.
Beijing’s new off-budget treasury bonds will span decades, and they have been sold only 3 times before – in some of the most challenging economic times.
People’s Bank of China (PBOC) has named two new academic advisers for its monetary policy committee, which submits advice to the State Council on key moves including interest rate changes and the value of the yuan.
Ping An, China’s largest insurer by market capitalisation, said its earnings fell for 2023 to their lowest level in five years, as strong sales of new policies were offset by setbacks in its asset management and technology investment businesses.
Senior central bank official says China’s monetary policies are ‘effective and obvious when compared with foreign central banks’.
The China-EU Working Group on Financial Cooperation has met for the first time, and analysts say that while such meetings between economic heavyweights are in the world’s best interests, progress may be slow to come.
Organised by the Financial Services and the Treasury Bureau and InvestHK, the summit will centre around four key topics: luxury and legacy, green technology, philanthropy and wealth legacy.
SMEs’ understanding of and readiness to employ new tech lags behind their belief that it will confer benefits, survey finds.
HSBC, Standard Chartered and BOCHK – the city’s three note-issuing banks – will keep their lending and deposit rates unchanged, meaning borrowers will have to keep waiting for interest relief.