https://www-scmp-com.libproxy1.nus.edu.sg/rss/318750/feed News about the global financial industry with a focus on developments in Hong Kong and China. en https://assets-v2.i-scmp.com/production/static/img/icons/scmp-meta-1200x630.png https://www-scmp-com.libproxy1.nus.edu.sg Xiaofei Xu Xiaofei Xu A former high-ranking official with China’s securities regulator was sentenced to death with a two-year reprieve on Tuesday over bribery charges, as Beijing continues its sweeping anti-corruption campaign. Wang Huimin, who served as a member of the Communist Party committee of the China Securities Regulatory Commission (CSRC) from 2014 to 2019, was found to have taken more than 436 million yuan (US$65 million) in bribes. “The amount involved was especially large and caused especially heavy... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3372339/china-hands-former-regulator-suspended-death-sentence-over-us65m-bribery-charge https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3372339/china-hands-former-regulator-suspended-death-sentence-over-us65m-bribery-charge Tue, 27 Oct 2026 13:35:34 +0000 Daisy Wu Daisy Wu Chinese and Hong Kong stocks have lagged an artificial intelligence-driven rally across Asia, but J.P. Morgan Asset Management remained “structurally very positive” on both markets, according to a senior executive at the firm. Chinese markets offered “a lot of depth and breadth” and ample liquidity despite widespread headwinds, Ayaz Ebrahim, the firm’s CEO for Singapore, Southeast Asia and India, told the South China Morning Post in an interview on Monday. “Markets that work have a strong... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3372245/depth-and-breadth-strong-liquidity-anchor-china-stock-outlook-jpmam https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3372245/depth-and-breadth-strong-liquidity-anchor-china-stock-outlook-jpmam Tue, 27 Oct 2026 07:00:07 +0000 Mia Nurmamat Mia Nurmamat Several Chinese universities will soon begin paying salaries in digital yuan, marking Beijing’s latest push to broaden adoption of the state-backed currency and integrate it more deeply into the country’s financial system. The finance departments of several universities in Jiangsu province, an economic powerhouse in eastern China, announced on their official websites that they would pay salaries in digital yuan, known as e-CNY, from November. They cited preliminary instructions from the... https://www-scmp-com.libproxy1.nus.edu.sg/economy/article/3372260/beijing-pushes-digital-yuan-adoption-e-cny-payments-university-salaries https://www-scmp-com.libproxy1.nus.edu.sg/economy/article/3372260/beijing-pushes-digital-yuan-adoption-e-cny-payments-university-salaries Tue, 27 Oct 2026 06:03:05 +0000 SCMP Editorial SCMP Editorial Citigroup is not the first foreign bank to win Beijing’s permission to run a wholly owned securities firm in mainland China. But it is among the largest, and it is American. That combination makes last week’s approval by the China Securities Regulatory Commission (CSRC) significant in practice and in symbolism. For decades, foreign financiers lobbied for the right to operate in China without a local partner. Since 2020, when Beijing scrapped ownership caps on securities firms, fund managers and... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3372137/chinas-citigroup-approval-both-practical-and-symbolic-move https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3372137/chinas-citigroup-approval-both-practical-and-symbolic-move Mon, 26 Oct 2026 23:15:08 +0000 Peggy Ye Peggy Ye The HK$2.7 billion (US$344 million) sale of two Shimao Group hotels in Hong Kong leaves an estimated HK$1.8 billion shortfall against their secured loans. Still, receivers managed to squeeze out improved bids in the final stages, with all shortlisted parties improving their offers, said Una Ge, a managing director at AlixPartners who oversaw the sale as a joint receiver. The deal offers a glimpse into how mainland China’s developer debt crisis is reshaping Hong Kong’s restructuring industry,... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3372067/how-shimaos-sale-2-hotels-reveals-growing-complexity-hong-kong-debt-workouts https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3372067/how-shimaos-sale-2-hotels-reveals-growing-complexity-hong-kong-debt-workouts Mon, 26 Oct 2026 23:00:05 +0000 Stephen Wong Stephen Wong Finance ministers from 21 Asia-Pacific economies recently met in Hong Kong, the first time the city has hosted them. A practical question sits one level down. Picture the treasury team of a company running its regional business from Hong Kong. It arranges funding in several currencies, pays across markets and manages the risks that follow. Its question is: how can Hong Kong’s services help it operate more efficiently and at lower cost? Those needs are a practical lens for reading the five-year... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/hong-kong-opinion/article/3371934/how-hong-kongs-5-year-plan-can-fuel-its-financial-clout https://www-scmp-com.libproxy1.nus.edu.sg/opinion/hong-kong-opinion/article/3371934/how-hong-kongs-5-year-plan-can-fuel-its-financial-clout Mon, 26 Oct 2026 21:30:06 +0000 Emma Ma Emma Ma Local tax bureaus across China are continuing to step up oversight following the expiration of the country’s grace period for the reporting of offshore trusts last Thursday, part of an ongoing push to spur voluntary tax disclosures. Municipal tax authorities in Beijing published notices for 21 individuals on the official website last Thursday – the expiry date of the 90-day grace period – ordering them to submit tax documentation linked to offshore trusts. The notices, issued to “tighten tax... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3372178/chinas-tax-offices-issue-disclosure-orders-offshore-asset-grace-period-ends https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3372178/chinas-tax-offices-issue-disclosure-orders-offshore-asset-grace-period-ends Mon, 26 Oct 2026 13:30:07 +0000 Tim Yuen Lingk Tim Yuen Lingk The Hong Kong Securities and Futures Commission (SFC) on Monday approved the world’s first-ever secondary trading of tokenised public funds, reinforcing the city’s push to build the region’s leading ecosystem for tokenised finance. Investors can now trade two tokenised money market funds – the Hong Kong dollar and US dollar versions of the ChinaAMC Digital Money Market Fund – on an SFC-licensed virtual asset trading platform (VATP). “For retail investors, this marks a vital upgrade in time... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3372176/global-first-hong-kong-opens-secondary-trading-tokenised-public-funds https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3372176/global-first-hong-kong-opens-secondary-trading-tokenised-public-funds Mon, 26 Oct 2026 10:01:10 +0000 Tim Yuen Lingk Tim Yuen Lingk After HSBC RedCoin launched on Friday, Anchorpoint – the stablecoin-issuing joint venture led by Standard Chartered – said it plans to launch a retail product on a public blockchain, even as it takes a “prudent approach”. “Our next major milestone is to [help] bring regulated digital money into everyday payments and commercial applications, while connecting traditional payment infrastructure with this emerging digital finance,” said Dominic Maffei, CEO of Anchorpoint. “This is a public... https://www-scmp-com.libproxy1.nus.edu.sg/business/cryptocurrency/article/3372060/standard-chartered-led-anchorpoint-plans-retail-stablecoin-hsbc-redcoin-launches https://www-scmp-com.libproxy1.nus.edu.sg/business/cryptocurrency/article/3372060/standard-chartered-led-anchorpoint-plans-retail-stablecoin-hsbc-redcoin-launches Sun, 25 Oct 2026 23:00:15 +0000 Daniel Ren Daniel Ren A Chinese developer behind one of Sri Lanka’s biggest projects has reason to celebrate as a luxury property boom lifts sentiment in the South Asian nation and fuels optimism about the market’s prospects. Analysts, however, cautioned that a string of disappointing Chinese overseas property investments over the past decade underlined the risks of speculative excess that could lead to a boom-to-bust scenario, particularly in a country where regulation remained uneven. “Chinese developers, having... https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3371938/sri-lankas-property-boom-gives-chinese-developers-hope-familiar-risks-linger https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3371938/sri-lankas-property-boom-gives-chinese-developers-hope-familiar-risks-linger Sun, 25 Oct 2026 01:00:11 +0000 Enoch Yiu Enoch Yiu HSBC, the biggest lender in Hong Kong and Europe, will open a new wealth management centre in Abu Dhabi in December, as the lender has not found the conflicts in the Middle East have dampened demand for its wealth business in the region, according to a senior executive. Mohamed Al Marzooqi, CEO of HSBC in the United Arab Emirates (UAE), said the new project formed part of the lender’s largest investment in the Middle East in two decades, after the opening of a wealth management centre in Dubai... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3371958/hsbc-open-new-wealth-centre-abu-dhabi-despite-regional-conflict https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3371958/hsbc-open-new-wealth-centre-abu-dhabi-despite-regional-conflict Sat, 24 Oct 2026 06:00:21 +0000 Emma Ma Emma Ma China is facing a surge in credit card delinquencies from a seemingly unlikely source: middle-aged borrowers who otherwise look like model citizens, with university educations and secure public-sector jobs. Chinese banks once rushed to lend to this group, confident they would easily be able to pay their bills. But defaults are now rising so quickly amid an economic slowdown that lenders are ramping up efforts to dispose of their non-performing loan portfolios. The past quarter saw a roughly 50... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371943/credit-card-defaults-surge-across-china-older-borrowers-struggle-repay-debt https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371943/credit-card-defaults-surge-across-china-older-borrowers-struggle-repay-debt Sat, 24 Oct 2026 06:00:17 +0000 Jess Ma Jess Ma A cryptocurrency trading platform on Hong Kong and Canadian regulators’ alert lists has opened an office in the city, prompting experts to urge closer scrutiny of how such firms promote themselves without undermining an open business environment. Experts told the South China Morning Post that inclusion on a regulator’s alert list did not necessarily mean a company had broken the law. But they urged authorities to step up oversight of how such firms marketed regulated financial products. Polar... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3371978/crypto-platform-alert-lists-opens-hong-kong-office-prompting-calls-scrutiny https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3371978/crypto-platform-alert-lists-opens-hong-kong-office-prompting-calls-scrutiny Sat, 24 Oct 2026 04:00:16 +0000 Yulu Ao Yulu Ao When Wang Junhong was helping Chinese brokerage Guotai Junan International establish a foothold in Vietnam, he had to knock on the door of a familiar Chinese bank. As part of the Hong Kong-based firm’s expansion into Southeast Asia, it had acquired a controlling stake of a small Vietnamese securities company in 2019, but it still needed financing to expand its operation. Wang, now chairman of Guotai Haitong Securities (Vietnam), turned to China Construction Bank’s branch in Ho Chi Minh City,... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3371469/good-morning-vietnam-chinese-brokers-eye-neighbouring-springboard-overseas-expansion https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3371469/good-morning-vietnam-chinese-brokers-eye-neighbouring-springboard-overseas-expansion Fri, 23 Oct 2026 23:00:13 +0000 Daniel Ren Daniel Ren Hong Kong has taken another step towards building itself into an international gold trading hub, after confirming deals that will see gold refineries localise production in the city. The addition of the local refineries will allow Hong Kong to form a complete gold trading ecosystem, boosting belief in the city’s ability to become a trusted global gold vault, according to analysts. “Hong Kong has been substantiating the idea of a global gold hub now that it no longer needs mainland-based... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3371968/hong-kong-burnishes-gold-hub-credentials-local-refineries-deal https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3371968/hong-kong-burnishes-gold-hub-credentials-local-refineries-deal Fri, 23 Oct 2026 13:36:12 +0000 Enoch Yiu Enoch Yiu Former HSBC Holdings global insurance head Edward Moncreiffe will join rival AIA Group as regional CEO from November 2, following a path taken by former HSBC Group chairman Mark Tucker, who returned to the Asia-Pacific region’s largest insurer as non-executive chairman last year. Moncreiffe will oversee AIA’s businesses in India, Sri Lanka, Australia and New Zealand, while serving on the group’s executive committee, according to a company statement issued on Friday. He will report to group CEO... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3371907/former-hsbc-insurance-veteran-edward-moncreiffe-joins-aia-latest-senior-talent-move https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3371907/former-hsbc-insurance-veteran-edward-moncreiffe-joins-aia-latest-senior-talent-move Fri, 23 Oct 2026 09:00:10 +0000 Enoch Yiu Enoch Yiu US bank Citigroup has received approval to set up a wholly foreign-owned securities firm in mainland China, allowing the lender to pursue more opportunities in one of the world’s largest capital markets. The long-awaited green light was given by the China Securities Regulatory Commission (CSRC) on Friday, and ahead of an expected meeting between President Xi Jinping and US President Donald Trump on the sidelines of the Asia-Pacific Economic Cooperation (Apec) summit in Shenzhen next month. The... https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3371911/citigroup-gets-beijings-approval-wholly-owned-securities-firm-china https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3371911/citigroup-gets-beijings-approval-wholly-owned-securities-firm-china Fri, 23 Oct 2026 08:23:55 +0000 Enoch Yiu,Christina Zhao Enoch Yiu,Christina Zhao Life insurance sales in Hong Kong rose 58 per cent in the first half of this year to another record high as affluent mainland and overseas customers continued to buy policies in the city for wealth transfer, protection and medical needs. It was the fourth consecutive year in which first half sales hit a record high. The industry wrote HK$275.16 billion (US$35.3 billion) worth of new life insurance policies in the first half, compared with HK$173.7 billion a year earlier, according to data from... https://www-scmp-com.libproxy1.nus.edu.sg/business/money/investment-products/article/3371909/hong-kong-life-insurance-sales-58-first-half-tax-crackdown-threatens-momentum https://www-scmp-com.libproxy1.nus.edu.sg/business/money/investment-products/article/3371909/hong-kong-life-insurance-sales-58-first-half-tax-crackdown-threatens-momentum Fri, 23 Oct 2026 08:16:11 +0000 Christina Zhao Christina Zhao As regional equities tumbled and hopes for investor stimulus faded, the Hang Seng Index fell to a seven-month low. Attention also remained focused on Beijing’s intensified scrutiny of offshore wealth and tax compliance. Macroeconomic data pointed to steady, if uneven, domestic momentum. Here are the core figures capturing market attention this week. Hong Kong stocks suffer steepest drop in 7 months The Hang Seng Index sank 3.03 per cent in a single session to 22,934.68 points, its worst... https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3371870/market-sell-tax-scrutiny-and-growth-key-figures-shaping-investor-sentiment https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3371870/market-sell-tax-scrutiny-and-growth-key-figures-shaping-investor-sentiment Fri, 23 Oct 2026 07:00:07 +0000 Mia Nurmamat,Ji Siqi Mia Nurmamat,Ji Siqi China has unveiled a revised rule for regulating outbound investment, requiring investors to report major adverse developments more diligently, including foreign demands to hand over technology or dispose of stakes. The new rule, announced by the National Development and Reform Commission (NDRC) on Thursday, aimed to better prevent and mitigate rising overseas risks and protect Chinese interests, according to the economic planner. “In recent years, a small number of countries and regions have... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371865/beijing-tightens-rules-outbound-capital-better-shield-chinese-assets https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371865/beijing-tightens-rules-outbound-capital-better-shield-chinese-assets Fri, 23 Oct 2026 05:00:20 +0000 Ralph Jennings Ralph Jennings Chinese households are increasingly shifting assets from real estate and bank deposits into more lucrative investments at home and abroad, despite growing oversight, Moody’s Ratings said. A multi-year downturn in the Chinese property market and low interest rates are fuelling the demand for alternative investments, the ratings agency said in a report published this week. Chinese investors are looking for investments that “offer higher returns than deposits while maintaining relatively low risk,”... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371785/even-beijing-boosts-oversight-chinese-investors-continue-pivot-offshore-assets https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371785/even-beijing-boosts-oversight-chinese-investors-continue-pivot-offshore-assets Fri, 23 Oct 2026 01:00:09 +0000 Peggy Ye Peggy Ye Hong Kong’s offshore yuan bond market is becoming an increasingly important funding source for global banks, with US lenders driving a surge in issuance even as the currency’s traditional funding advantage over the dollar narrows. The shift offers a glimpse of how financial ties between Wall Street and China are evolving despite geopolitical tensions. For US banks, the attraction increasingly lies in access to Chinese capital rather than lower borrowing costs. Offshore yuan-denominated bonds,... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3371769/wall-street-piles-hong-kongs-dim-sum-bonds-despite-fading-yuan-funding-edge-bofa https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3371769/wall-street-piles-hong-kongs-dim-sum-bonds-despite-fading-yuan-funding-edge-bofa Fri, 23 Oct 2026 00:00:14 +0000 Zoe SL Chan Zoe SL Chan HSBC will launch its Hong Kong dollar-backed stablecoin in stages from Friday for more than 3.3 million users of its PayMe app, as the bank pushes to bring digital currencies into the city’s mainstream retail and investment markets. HSBC RedCoin, available only through PayMe and the bank’s Hong Kong mobile banking app, would initially support peer-to-peer transfers and peer-to-merchant payments on PayMe, according to head of PayMe Lawrence Li. Users can activate their HSBC RedCoin wallet, with... https://www-scmp-com.libproxy1.nus.edu.sg/business/cryptocurrency/article/3371805/hsbc-redcoin-stablecoin-launches-33-million-payme-users-hong-kong https://www-scmp-com.libproxy1.nus.edu.sg/business/cryptocurrency/article/3371805/hsbc-redcoin-stablecoin-launches-33-million-payme-users-hong-kong Thu, 22 Oct 2026 23:00:09 +0000 Tim Yuen Lingk Tim Yuen Lingk Hong Kong’s top banking regulator has called for greater innovation in the city’s financial system to help address “pain points” in the real economy, as the city works with mainland Chinese and Asia-Pacific partners to navigate a host of sustainability, geopolitical and other challenges. “True innovation in finance is not simply about chasing novelty; it’s about transforming conventional financial tools into efficient solutions,” said Eddie Yue Wai-man, chief executive of the Hong Kong Monetary... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3371810/hong-kong-targets-financial-innovation-help-ease-economic-pain-points https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3371810/hong-kong-targets-financial-innovation-help-ease-economic-pain-points Thu, 22 Oct 2026 12:00:25 +0000 Zhu Wenqian Zhu Wenqian Beijing’s plan to recruit more tax officers next year is drawing attention from businesses and wealthy families as tax compliance rises up the policy agenda and authorities intensify enforcement efforts. China’s 2027 national civil service recruitment plan includes 24,013 tax-related positions, accounting for more than 67 per cent of all vacancies, up from over 65 per cent a year earlier. Most of the vacancies are at the State Taxation Administration’s local branches, which are recruiting staff... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3371791/china-expands-tax-workforce-tougher-enforcement-moves-spotlight https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3371791/china-expands-tax-workforce-tougher-enforcement-moves-spotlight Thu, 22 Oct 2026 09:51:04 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma Thursday marked the deadline for Chinese taxpayers to make outstanding tax payments tied to offshore trusts as the government chases new funding sources to help ease fiscal strains. Investors face a 20 per cent tax based on the initial value of assets placed in trusts and a 20 per cent tax on distributions under a policy coming into force on Friday. Authorities backdated the taxes to January 1, 2023, and gave trust holders a 90-day grace period to make penalty-free payments when the changes were... https://www-scmp-com.libproxy1.nus.edu.sg/plus/business/china-business/article/3371784/china-targets-offshore-trusts-widening-push-taxes https://www-scmp-com.libproxy1.nus.edu.sg/plus/business/china-business/article/3371784/china-targets-offshore-trusts-widening-push-taxes Thu, 22 Oct 2026 09:25:32 +0000 Johannes Nugroho Johannes Nugroho In the wake of Indonesia’s worst stock-market rout since the 1998 Asian financial crisis, President Prabowo Subianto’s administration has turned to appeals to economic nationalism to shore up confidence, urging citizens to rally behind the country’s battered stock market. The government has promised reforms in response to warnings from global index provider MSCI that Indonesia could be downgraded from emerging-market to stand-alone-market status. But analysts say its patriotic appeals will do... https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/economics/article/3371767/can-prabowos-economic-nationalism-save-indonesia-potential-msci-downgrade https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/economics/article/3371767/can-prabowos-economic-nationalism-save-indonesia-potential-msci-downgrade Thu, 22 Oct 2026 08:00:14 +0000 Adam Au Adam Au For many of us, artificial intelligence (AI) started out as something to play with. We asked it to write poems and arrange our calendars; we shared its more entertaining mistakes. Then it became something to believe in: an escape from drudgery, an assistant to every profession, even perhaps the start of a new industrial revolution. Now it is something to fear. The progression has been astonishing. Governments are scrambling to draw up AI strategies, companies are reorganising operations and... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/hong-kong-opinion/article/3370985/ai-apocalypse-hong-kongs-real-challenge-much-less-dramatic https://www-scmp-com.libproxy1.nus.edu.sg/opinion/hong-kong-opinion/article/3370985/ai-apocalypse-hong-kongs-real-challenge-much-less-dramatic Thu, 22 Oct 2026 01:30:18 +0000 Themis Qi Themis Qi Hong Kong has vowed to engage more international banks in a debt securities clearing system, as part of a wider push to develop the city into a leading global yuan trading hub. “Hong Kong is actively promoting a number of measures to advance the city’s offshore yuan market to higher and deeper levels,” said Michael Wong Wai-lun, the city’s deputy financial secretary, during a Hong Kong event related to the Financial Street Forum on Wednesday. On the infrastructure side, Wong said the government... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3371681/hong-kong-working-boost-global-banks-use-yuan-trading-tools https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3371681/hong-kong-working-boost-global-banks-use-yuan-trading-tools Wed, 21 Oct 2026 13:48:17 +0000 Hugh Harsono Hugh Harsono From October 22, China’s grace period for the disclosure and settlement of certain offshore-trust tax liabilities ends. For the Chinese government, this deadline highlights its desire to affirm control over capital outflows, while for Chinese high-net-worth families, it serves as a reminder that it is now harder to keep international assets beyond the reach of the government. The deadline sits against the backdrop of China tightening scrutiny around cryptocurrency, stablecoins and real-world... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/china-opinion/article/3371259/chinas-offshore-tax-crackdown-could-inadvertently-fuel-digital-dollar-boom https://www-scmp-com.libproxy1.nus.edu.sg/opinion/china-opinion/article/3371259/chinas-offshore-tax-crackdown-could-inadvertently-fuel-digital-dollar-boom Wed, 21 Oct 2026 12:30:07 +0000 Mandy Zuo,Sylvia Ma Mandy Zuo,Sylvia Ma Both China and the world need an internationalised yuan in a multipolar global economic environment, a former senior Chinese official has urged in an article that was published as Beijing upgraded its digital-yuan infrastructure to bolster efforts to reshape the US dollar-dominated global financial system. Wider use of the Chinese currency, also known as the renminbi, would support China’s high-quality growth while offering an alternative that could help stabilise the international financial... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371653/former-imf-executive-says-china-and-world-need-internationalised-yuan https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371653/former-imf-executive-says-china-and-world-need-internationalised-yuan Wed, 21 Oct 2026 10:00:13 +0000 Sylvia Ma Sylvia Ma Former Chinese central bank governor Zhou Xiaochuan has warned that failed artificial intelligence investments could trigger financial turbulence and urged preparations to mitigate risks amid concerns over a potential bust of the AI investment bubble. “Consider[ing]... such a large amount of the investment going to the AI facility; if a part of it goes to failure, it causes financial turbulence, and this may create a crisis,” Zhou said during a panel discussion at the Bund Summit in Shanghai on... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371612/former-pboc-governor-warns-potential-crisis-ai-investment-urging-preparation https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371612/former-pboc-governor-warns-potential-crisis-ai-investment-urging-preparation Wed, 21 Oct 2026 09:00:08 +0000 Enoch Yiu Enoch Yiu Asia-Pacific Economic Cooperation (Apec) finance chiefs reached a consensus on economic policy coordination and cooperation on financing technology and artificial intelligence at a landmark two-day gathering in Hong Kong, according to China’s finance minister. Lan Foan said the outcomes achieved during the Apec Finance Ministers’ Meeting would help shape discussions at the leaders’ summit in Shenzhen next month. “China will work with all member economies to implement the important consensus... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3371628/apec-finance-ministers-reach-consensus-ai-digital-financing-hong-kong https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3371628/apec-finance-ministers-reach-consensus-ai-digital-financing-hong-kong Wed, 21 Oct 2026 08:00:31 +0000 Zhu Wenqian Zhu Wenqian As China’s housing market downturn enters its fifth year, global investment banks including Goldman Sachs and Citi say they expect the sector to pivot as soon as 2027, with expectations fuelled by signs of shrinking supply and robust sales over the National Day holiday in early October. Citi holds a positive view on the sector and saw 2027 as a pivotal year for home price recovery in Beijing, Shanghai and Shenzhen. Home prices in China hit their lowest point in June 2024, according to... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3371618/2027-turning-point-goldman-citi-see-stabilising-signs-chinas-housing-market https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3371618/2027-turning-point-goldman-citi-see-stabilising-signs-chinas-housing-market Wed, 21 Oct 2026 07:15:17 +0000 Themis Qi Themis Qi China’s tax authorities are accepting reasonable explanations when enforcing new rules on offshore trust gains, according to an executive who says their appeal was successful, offering some reassurance as a 90-day grace period expires on Thursday. The approach appears to be translating into greater clarity from regulators. Earlier this week, the State Taxation Administration published a question-and-answer series that suggested Beijing was implementing the rules in line with international... https://www-scmp-com.libproxy1.nus.edu.sg/business/money/wealth/article/3371606/china-eases-uncertainty-over-offshore-trust-taxes-grace-period-ends https://www-scmp-com.libproxy1.nus.edu.sg/business/money/wealth/article/3371606/china-eases-uncertainty-over-offshore-trust-taxes-grace-period-ends Wed, 21 Oct 2026 06:03:21 +0000 Sherry Wang Sherry Wang China plans to expand venture capital and long-term funding for technology companies in the Greater Bay Area while strengthening financial links between Hong Kong and the mainland, as part of efforts to turn the region into a leading innovation hub alongside Beijing and Shanghai. In guidelines published on Monday, the People’s Bank of China and 10 other government departments set out plans for “an open technology finance system” across the Guangdong-Hong Kong-Macau Greater Bay Area. The... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371503/can-china-unlock-greater-bay-areas-tech-potential-through-closer-financial-links https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371503/can-china-unlock-greater-bay-areas-tech-potential-through-closer-financial-links Wed, 21 Oct 2026 01:00:08 +0000 Daisy Wu Daisy Wu As artificial intelligence reshapes the finance industry, commercial bankers are facing a “more miserable” transition than their central banking counterparts, the head of the world’s largest lender by assets said. Industrial and Commercial Bank of China president Liu Jun said that while central bankers focused on oversight and policy, commercial lenders bore direct financial and legal liability when deploying AI at scale. “If [ICBC] deploys AI tools … towards different business lines, and all... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3371521/commercial-lenders-shouldering-heavier-ai-burden-central-banks-icbc-president https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3371521/commercial-lenders-shouldering-heavier-ai-burden-central-banks-icbc-president Tue, 20 Oct 2026 23:00:08 +0000 Enoch Yiu Enoch Yiu The Hong Kong Monetary Authority (HKMA) will reshuffle the roles of two deputy chief executives next month as part of the de facto central bank’s succession planning strategy, two sources with knowledge of the matter told the South China Morning Post. Darryl Chan Wai-man will take over as CEO of HKMA’s Exchange Fund Investment Office from November 9, where he will manage the HK$4.46 trillion (US$568 billion) Exchange Fund – the war chest used to defend Hong Kong’s local currency, according to... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3371524/hkma-swap-jobs-2-deputy-heads-part-succession-planning-sources https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3371524/hkma-swap-jobs-2-deputy-heads-part-succession-planning-sources Tue, 20 Oct 2026 10:25:36 +0000 Resty Woro Yuniar Resty Woro Yuniar As the threat of a reclassification by MSCI that could relegate Indonesia to an investment hinterland looms, the country’s financial regulators and stock exchange officials have vowed to address systemic concerns, including removing stocks with concentrated ownership. The global index provider announced on Friday it was launching a formal consultation to decide whether to downgrade Southeast Asia’s largest economy from “emerging market” to “stand-alone” status, similar to countries such as... https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/economics/article/3371515/indonesia-faces-msci-downgrade-threat-officials-vow-reforms-ease-fears https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/economics/article/3371515/indonesia-faces-msci-downgrade-threat-officials-vow-reforms-ease-fears Tue, 20 Oct 2026 10:02:45 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma China’s central bank and stock market regulator have moved to shore up capital markets, announcing new mechanisms to bolster bond market liquidity in the event of a crisis and authorising new exchange traded funds (ETFs) to add stability to stock markets. People’s Bank of China (PBOC) governor Pan Gongsheng put a firewall in place to backstop the bond market, announcing the launch of a liquidity facility to help non-bank financial institutions such as securities brokers and mutual funds better... https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/policy/article/3371498/china-moves-shore-capital-markets-investors-nonplussed https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/policy/article/3371498/china-moves-shore-capital-markets-investors-nonplussed Tue, 20 Oct 2026 09:06:29 +0000 Syed Munir Khasru Syed Munir Khasru A country need not run out of money to find itself in a debt crisis. It only has to run short of US dollars to pay for its energy. At the recent International Monetary Fund-World Bank annual meetings in Bangkok, the IMF, which expects global economic growth of 3.1 per cent this year and 3.4 per cent the next, cautioned that energy-importing and lower-income economies face a harder road, even as those riding the artificial intelligence boom fare relatively well. According to the World Bank’s... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/asia-opinion/article/3371271/energy-shock-could-spark-asias-next-debt-crisis https://www-scmp-com.libproxy1.nus.edu.sg/opinion/asia-opinion/article/3371271/energy-shock-could-spark-asias-next-debt-crisis Tue, 20 Oct 2026 08:30:10 +0000 Kolette Lim Kolette Lim While Hong Kong is betting on its established banking network to bring stablecoins into mainstream finance, Singapore is seeking to make regulated digital currencies easier to use. Both approaches reflect different priorities in the race to build global cryptocurrency centres: Hong Kong is linking stablecoins to its existing financial system, while Singapore is looking to strengthen the infrastructure for circulating and settling tokenised assets. Analysts said the ultimate test would be whether... https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/economics/article/3371445/singapore-hong-kong-take-different-paths-race-stablecoin-dominance-who-will-win https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/economics/article/3371445/singapore-hong-kong-take-different-paths-race-stablecoin-dominance-who-will-win Tue, 20 Oct 2026 04:00:13 +0000 Tim Yuen Lingk Tim Yuen Lingk Hong Kong is opening its arms to more sovereign debt issuers, as this week’s Apec Finance Ministerial Meeting (FMM) provides a good opportunity to demonstrate the depth and advantages of the city’s financial markets. Its signature dim sum bond market could leverage low fundraising costs relative to that of developed markets and risk diversification considerations to make the city a magnet for sovereign borrowers, including many members of the Asia-Pacific organisation, according to... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3371334/hong-kong-cement-its-role-yuan-bond-hub-appealing-more-sovereign-borrowers https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3371334/hong-kong-cement-its-role-yuan-bond-hub-appealing-more-sovereign-borrowers Tue, 20 Oct 2026 00:00:11 +0000 Cheryl Arcibal Cheryl Arcibal US-based money manager Principal Asset Management says it is poised to become more active in Asia-Pacific property markets, believing investors have been “underweight” in the region’s office property segment. Richard Hill, its senior managing director and head of global real estate research and strategy, said the group was also seeing continued interest from institutional investors in the Asia-Pacific region looking to access opportunities in US commercial real estate as it was “too big to... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3371391/money-manager-eyes-asia-pacific-property-growth-tells-investors-keep-bet-us https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3371391/money-manager-eyes-asia-pacific-property-growth-tells-investors-keep-bet-us Mon, 19 Oct 2026 23:00:05 +0000 Zhu Wenqian Zhu Wenqian The China Securities Regulatory Commission (CSRC) has approved 18 actively managed exchange-traded funds (ETFs), which could channel tens of billions of yuan into the A-share market, as it seeks to strengthen investor confidence and market resilience. Speaking on Monday in Beijing at the opening ceremony of the Financial Street Forum, one of China’s top national-level economic conferences, CSRC chairman Wu Qing also pledged to crack down on market irregularities as the regulator pushes to manage... https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3371410/china-plans-18-active-etfs-regulator-seeks-shore-stock-market https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3371410/china-plans-18-active-etfs-regulator-seeks-shore-stock-market Mon, 19 Oct 2026 12:51:38 +0000 Ji Siqi,Emma Ma Ji Siqi,Emma Ma China’s central bank plans to roll out a liquidity facility for non-bank financial institutions to tackle systemic stress triggered by mass redemptions, putting a firewall in place to backstop the bond market in case of crisis. Pan Gongsheng, governor of the People’s Bank of China (PBOC), also pledged to step up efforts to make yuan-denominated assets more attractive to overseas investors, while streamlining access for foreign financial institutions to conduct yuan transactions in the onshore... https://www-scmp-com.libproxy1.nus.edu.sg/economy/policy/article/3371400/pboc-plans-bond-liquidity-backstop-pilots-onshore-yuan-market-trading-foreign-banks https://www-scmp-com.libproxy1.nus.edu.sg/economy/policy/article/3371400/pboc-plans-bond-liquidity-backstop-pilots-onshore-yuan-market-trading-foreign-banks Mon, 19 Oct 2026 11:38:46 +0000 Chris Tsang Chris Tsang Although the Chinese government imposed a 20 per cent tax on rental income and capital gains derived from overseas properties transferred into offshore trusts by mainland residents, agents said these investors remained a key driver of the Hong Kong property market. China’s Ministry of Finance and the State Taxation Administration said in July that rental earnings – profits from the sale of properties and investment gains derived from assets including real estate, stocks or equity interests held... https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3371345/why-mainland-chinese-still-drive-hong-kongs-housing-market-despite-beijings-20-tax https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3371345/why-mainland-chinese-still-drive-hong-kongs-housing-market-despite-beijings-20-tax Mon, 19 Oct 2026 06:00:06 +0000 Xinmei Shen Xinmei Shen Bitcoin may extend its rebound but is unlikely to break above US$100,000 before the end of the year, as rising interest rates and the Iran conflict continue to weigh on crypto assets, according to analysts. The crypto asset class is likely to end the year higher than it is today, but below the peak reached last October, according to Alice Liu, head of research at crypto data platform CoinMarketCap. “The worst of this year’s downturn is behind us, but the recovery will be uneven and led almost... https://www-scmp-com.libproxy1.nus.edu.sg/business/cryptocurrency/article/3371238/bitcoin-making-comeback-risk-more-sharp-pullbacks-real https://www-scmp-com.libproxy1.nus.edu.sg/business/cryptocurrency/article/3371238/bitcoin-making-comeback-risk-more-sharp-pullbacks-real Sun, 18 Oct 2026 23:00:14 +0000 Sherry Wang Sherry Wang China has further reduced its holdings of US Treasuries to an 18-year low in August, as it continued to diversify its foreign exchange reserves amid rising geopolitical tensions and concerns over Washington’s fiscal outlook. China’s holdings fell to US$590.7 billion in August, down US$27.3 billion from US$618 billion in July, data released by the US Treasury Department showed on Friday. That marked the lowest total recorded since August 2008, when its holdings tumbled to US$573.7 billion,... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371237/china-cuts-us-treasury-holdings-18-year-low-august-american-debt-fears-mount https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371237/china-cuts-us-treasury-holdings-18-year-low-august-american-debt-fears-mount Sat, 17 Oct 2026 06:00:17 +0000 Lam Ka-sing,Denise Tsang Lam Ka-sing,Denise Tsang Distinctive features will set Hong Kong apart from London, a major bullion hub, as the city accelerates efforts to develop an international gold and precious metals trading ecosystem covering the entire value chain, a minister has told the South China Morning Post. In an exclusive interview on Thursday, Secretary for Financial Services and the Treasury Christopher Hui Ching-yu said the city would officially launch a central gold clearing platform in the first quarter of next year. It would... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3371228/hong-kong-touts-distinct-features-set-it-apart-london-global-gold-hub-push https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3371228/hong-kong-touts-distinct-features-set-it-apart-london-global-gold-hub-push Sat, 17 Oct 2026 04:01:11 +0000