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A branch of the Industrial and Commercial Bank of China (ICBC) in Beijing on April 1, 2019. Photo: Reuters
Banking & finance

Chinese state banks’ 2024 profits rise, NPLs dip even as margins thin

All six state-owned commercial banks posted moderate profit growth for last year, as non-performing loan ratios declined slightly.

Hong Kong stock market

Hong Kong stocks decline for third week on profit-taking

Banking & finance

Cathie Wood sees AI driving US$10 trillion global robotaxi revolution

Hong Kong stock market

Hong Kong stocks rise for a second day as investors shrug off Trump’s latest tariffs

Trump’s 25 per cent tariffs on US car imports to take effect from April 2, saying this would spur growth.

The Hang Seng Index is displayed at the Hang Seng Bank’s headquarters in Hong Kong. Photo: Jelly Tse
The Hang Seng Index is displayed at the Hang Seng Bank’s headquarters in Hong Kong. Photo: Jelly Tse
Family offices

More measures on the way to attract family offices to Hong Kong, Paul Chan says

More exemptions for funds and enhanced concessions for family offices to make city appealing for wealthy investors to manage their fortunes.

Banking & finance

Hong Kong’s MTR Corp raises US$3 billion from its largest public bond sale

The deal comes amid a buoyant Asian bond market as risk sentiment remains steady ahead of further US trade tariffs, according to analysts.

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Hong Kong stock market

‘China is back’ as Goldman, Morgan Stanley whet global appetite for equities

Morgan Stanley raised its year-end index targets for MSCI China and Hang Seng by more than 7 per cent on improved outlook for earnings and valuations.

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People cross a street in front of a large screen showing stock and economy data in Shanghai on March 11, 2025. Photo: EPA-EFE
People cross a street in front of a large screen showing stock and economy data in Shanghai on March 11, 2025. Photo: EPA-EFE
Hong Kong Monetary Authority (HKMA)

Wealth Connect 3.0: HKMA chief promises upgrades to boost appeal

The cross-border scheme for wealth-management products could also expand to mainland investors beyond the Greater Bay Area, Eddie Yue says.

CATL

CATL gets CSRC’s nod for Hong Kong IPO to raise at least US$5 billion

CATL plans to sell up to 220.17 million shares and could raise at least US$5 billion to fund new factories overseas.

Hong Kong stock market

Hong Kong stocks rise, led by Chinese EV makers and tech firms

Investors take a cue from a Wall Street tech rally overnight and hunt for bargains following a recent correction, brokers say.

People look at a Nio ET7 at the Beijing Auto Show in Beijing on May 3, 2024. Photo: AFP
Electric & new energy vehicles

BYD out-earns Tesla after out-making, out-selling Model 3 producer

Chinese EV maker is forecast to widen its lead over Tesla in 2025 and 2026 global sales, according to consensus compiled by Bloomberg.

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The BYD logo is displayed at the Beijing Auto Show in April 2024. Photo: AFP
The BYD logo is displayed at the Beijing Auto Show in April 2024. Photo: AFP
Banking & finance

Alibaba’s Tsai says some AI bets like excess data centres are speculative

‘People are talking literally about US$500 billion, several US$100 billion [projects]. I don’t think that is entirely necessary,’ Tsai says.

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Banking & finance

Exclusive | Hong Kong must capitalise on DeepSeek to lure global, Chinese funds: HSBC

Hong Kong’s stock market has a lot of room to expand as many companies are planning IPOs, HSBC’s Asia and Middle East co-CEO David Liao says.

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Banking & finance

China to attract more private equity from Middle East and US: Bain & Co

Asia-Pacific deal value rose 11 per cent to US$176 billion in 2024, according to Bain & Company.

Workers walk past a mural depicting China’s history at the Zhongguancun No 1, an incubation platform for tech companies, in Beijing on March 19, 2025. Photo: AFP
Banking & finance

Exclusive | Chelsea owner Todd Boehly eyes Hong Kong and Macau for new ventures

The American tycoon spots potential for fintech, sports and entertainment expansion in Hong Kong and Macau.

Todd Boehly, who has a stake in many sports teams, is bullish on Hong Kong and Macau. Photo: Chelsea FC via Getty Images
Todd Boehly, who has a stake in many sports teams, is bullish on Hong Kong and Macau. Photo: Chelsea FC via Getty Images
Electric & new energy vehicles

BYD launches a ‘Model 3 killer’ at half the price of Tesla’s top seller

The Qin L and Xpeng’s Mona M03, which are priced around US$16,500, arrive as the US company’s mainland sales are dropping.

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Banking & finance

StanChart eyes 5 wealth hubs in Hong Kong to appeal to ‘new money’

The next wealth management centre will open in Central later this year, while the bank scouts for new locations in the city.

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Banking & finance

HSBC to back Chinese firms in their growth plans amid global headwinds, CEO says

With continued investment, China is poised to lead the future of technology-driven, resilient, and sustainable supply chains, Elhedery says.

Office workers seen outside HSBC’s head office building in Central, Hong Kong. Photo: Elson Li
Office workers seen outside HSBC’s head office building in Central, Hong Kong. Photo: Elson Li
Hong Kong property

Hong Kong property demand sees some improvement after stamp duty cuts

The market’s long-term recovery depends on interest rate trends, as homebuyers remain cautious amid the US-China trade war, experts say.

Family offices

It’s a family affair: inside Hong Kong’s quest to lure world’s wealthiest clans

Two years ago, the government unveiled eight measures with the aim of attracting affluent families so they could set up family offices.

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Mergers & Acquisitions

Li may swing BlackRock deal with just 15% of minority owners’ votes

Minority shareholders are also expected to support the sale to receive a special bonus of as much as HK$25 a share, they said.

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Li Ka-shing (centre) during his final annual general meeting as the chairman of his flagship companies CK Hutchison Holdings and CK Asset Holdings in Hung Hom on 10 May 2018, before his retirement. Photo: Sam Tsang
Banking & finance

Hong Kong orders brokers to rein in credits to pre-empt IPO madness

Futu Securities, the city’s biggest online broker, said the SFC directive might cool the IPO market frenzy a bit.

People walk past an electronic sign showing the Hang Seng Index in Hong Kong on February 26, 2025. Photo: AFP
People walk past an electronic sign showing the Hang Seng Index in Hong Kong on February 26, 2025. Photo: AFP
Banking & finance

Hong Kong widens lead over Singapore as Asia’s top financial centre: report

Nine of the top 20 global centres maintained their ranking, suggesting confidence in the financial sector amid slow economic growth.

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Banking & finance

Ontario Teachers’ departure is Hong Kong’s loss, Singapore’s gain

Canada’s third-largest pension fund will wind down its operations over the next 18 months, spokesman says.

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Banking & finance

Exclusive | Hong Kong key to StanChart’s US$200 billion new money target: CEO Winters

Bank is developing over 200 use cases for AI, including fraud detection and prevention, anti-money-laundering screening and new products.

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Standard Chartered CEO Bill Winters, at SCMP office in Causeway Bay on 17 March 2025. Photo: Jonathan Wong
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