https://www-scmp-com.libproxy1.nus.edu.sg/rss/318783/feed en https://assets-v2.i-scmp.com/production/static/img/icons/scmp-meta-1200x630.png https://www-scmp-com.libproxy1.nus.edu.sg Haining Gao,Junjie Wang,Fan Hou,Carlos Araujo Haining Gao,Junjie Wang,Fan Hou,Carlos Araujo https://www-scmp-com.libproxy1.nus.edu.sg/infographics/economy/article/3364635/scmp-plus-going-global-100?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/infographics/economy/article/3364635/scmp-plus-going-global-100?utm_source=rss_feed Thu, 08 Oct 2026 03:00:13 +0000 Ralph Jennings Ralph Jennings Chinese contractors will build Latin America’s longest cable-stayed bridge, a trans-bay span in Brazil, as their latest stamp on new infrastructure overseas. A consortium of Chinese companies is set to construct much of the Salvador-Itaparica Bridge, which is due to become the region’s biggest cross-sea project supported by cables once completed in 2031, Chinese and Brazilian media said. They would contribute to a 46.8km (29-mile) project including 12.4km crossing the Bay of All Saints along the... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3369850/chinese-consortium-build-latin-americas-longest-cable-stayed-bridge-brazil?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3369850/chinese-consortium-build-latin-americas-longest-cable-stayed-bridge-brazil?utm_source=rss_feed Wed, 07 Oct 2026 12:00:08 +0000 Emma Ma Emma Ma Starting on Wednesday, new regulations governing the online marketing of financial products – including loans, insurance and deposits – by loan-assisting service providers take effect in China. According to analysts, one of the driving considerations behind the measure is to curb the improper use of bank loans. The regulations were jointly released by eight ministries, headed by the People’s Bank of China in April. They explicitly stipulate that only financial institutions and third-party... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3369165/china-bans-online-promos-loans-insurance-private-brokers-prevent-loan-misuse?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3369165/china-bans-online-promos-loans-insurance-private-brokers-prevent-loan-misuse?utm_source=rss_feed Wed, 30 Sep 2026 02:00:12 +0000 Daisy Wu Daisy Wu The Asian Infrastructure Investment Bank (AIIB) plans to double its annual financing to about US$20 billion by 2030 as the Beijing-headquartered multilateral lender enters its second decade, its president said on Monday. Announcing the target at the opening of the bank’s 11th annual meeting in Doha, Qatar, AIIB President Zou Jiayi said member economies had voiced a “remarkably consistent” need for greater project funding. “They need more infrastructure and more financing to build it,” Zou told... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3369088/aiib-plans-double-financing-2030-can-it-bridge-asias-infrastructure-gap?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3369088/aiib-plans-double-financing-2030-can-it-bridge-asias-infrastructure-gap?utm_source=rss_feed Mon, 28 Sep 2026 12:09:02 +0000 Cheryl Arcibal Cheryl Arcibal Italy is becoming a magnet for wealthy property investors thanks to its high quality of life and flat tax regime, and interest is also on the rise among mainland Chinese and Hong Kong buyers, according to property agents. Rome introduced a flat tax regime nine years ago to attract high-net-worth individuals, with foreign residents allowed to make a flat annual tax payment of €300,000 (US$342,000) on all their overseas income under the scheme’s latest rules. The tax incentive has become a draw... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3368963/italy-attracts-wealthy-chinese-property-buyers-food-fashion-and-flat-tax?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3368963/italy-attracts-wealthy-chinese-property-buyers-food-fashion-and-flat-tax?utm_source=rss_feed Mon, 28 Sep 2026 00:00:21 +0000 Letters Letters Feel strongly about these letters, or any other aspects of the news? Share your views by emailing us your Letter to the Editor at letters@scmp.com or filling in this Google form. Submissions should not exceed 400 words. I refer to the report, “China’s pension fund doubles offshore exposure in quest for higher returns” (September 3). As China’s national pension reserve diversifies its sizeable asset allocation, Hong Kong stands to benefit. Hong Kong’s role as a gateway between mainland China and... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/letters/article/3368771/hong-kong-efficient-enough-deploy-long-term-mainland-chinese-capital?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/letters/article/3368771/hong-kong-efficient-enough-deploy-long-term-mainland-chinese-capital?utm_source=rss_feed Sun, 27 Sep 2026 03:30:08 +0000 Ralph Jennings Ralph Jennings Indonesia is considering Chinese investment to help build a massive 2,772km (1,722 mile) railway network through the vast, resource-rich region of Kalimantan, following the completion of Southeast Asia’s first high-speed line between Jakarta and Bandung, state media and analysts said. However, analysts noted that any future commercial agreements were likely to be negotiated cautiously, given the financial strains that dogged the high-speed line and the challenges that stalled a proposed... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3368818/indonesia-eyes-china-massive-2772km-railway-project-caution?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3368818/indonesia-eyes-china-massive-2772km-railway-project-caution?utm_source=rss_feed Sun, 27 Sep 2026 02:00:07 +0000 Alice Li Alice Li China’s outbound direct investment reached a record high of US$214 billion last year, even as investment in the United States plunged to its lowest level in more than a decade amid growing geopolitical and regulatory uncertainty, latest official data showed. Outbound direct investment was up 11.1 per cent in 2025 compared to the previous year, making China the world’s second-largest source of global capital, behind only the US and ranking ahead of Japan, according to an annual report jointly... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3368642/chinas-overseas-investment-hits-record-us214-billion-why-are-us-bound-flows-plunging?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3368642/chinas-overseas-investment-hits-record-us214-billion-why-are-us-bound-flows-plunging?utm_source=rss_feed Thu, 24 Sep 2026 12:30:19 +0000 Emma Ma Emma Ma For Michelle Zhao, a Shanghai resident, offshore trusts had long appeared to be the preserve of people far wealthier than herself. That assumption was upended two weeks ago when she received a “baffling” text message from the Hongkou district branch of the Shanghai Municipal Tax Service. “The message said I might have taxable gains stemming from offshore trusts that I was required to declare. Yet I have never held any form of trust. I assumed the message was sent to me by mistake, so I ignored... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3368032/mainland-tax-drive-flags-hong-kong-mpf-accounts-offshore-trusts?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3368032/mainland-tax-drive-flags-hong-kong-mpf-accounts-offshore-trusts?utm_source=rss_feed Fri, 18 Sep 2026 11:00:09 +0000 Daisy Wu Daisy Wu Months after Beijing unveiled a bevy of new tax rules for offshore trusts, the fallout has now reached New York City – home to one of the largest concentrations of mainland Chinese wealth outside Asia – after the changes swept across Hong Kong and Singapore. Under the rules, which took effect on July 24, mainland tax residents who transfer property or shares into an offshore trust – or receive distributions from one – face a 20 per cent tax on realised gains, plus an annual tax on income the... https://www-scmp-com.libproxy1.nus.edu.sg/business/money/wealth/article/3367437/nycs-wealthy-chinese-grapple-beijings-tax-rules-enforcement-deadline-nears?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/money/wealth/article/3367437/nycs-wealthy-chinese-grapple-beijings-tax-rules-enforcement-deadline-nears?utm_source=rss_feed Mon, 14 Sep 2026 22:00:07 +0000 Zhu Wenqian,Frank Tang Zhu Wenqian,Frank Tang Over the past three decades, investor Fang Fenglei has had a major role in shaping China’s capital markets. He worked with Morgan Stanley in the early 1990s to help create the country’s first joint venture investment bank – China International Capital Corp. Then, at the start of the millennium, he spearheaded the listing of state-owned giants in Hong Kong as CEO of Bank of China International, later chairing a China joint venture with Goldman Sachs. Now the chairman of Hopu Investments, Fang... https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3367236/private-equitys-fang-fenglei-investing-china-capital-market-reforms?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3367236/private-equitys-fang-fenglei-investing-china-capital-market-reforms?utm_source=rss_feed Fri, 11 Sep 2026 23:01:04 +0000 Themis Qi Themis Qi Hong Kong banks expect the contribution of mainland Chinese investors to the city’s wealth management business to continue to grow through 2030, presenting opportunities despite Beijing’s tightened cross-border tax rules. Mainland China’s share of local assets under management was projected to reach 68 per cent from 59 per cent within five years, according to a report released by the Hong Kong Association of Banks (HKAB) and Deloitte China on Friday. The report surveyed 147 member banks in the... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367190/mainland-chinese-investors-drive-hong-kong-wealth-boom-despite-new-tax-rules-report?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367190/mainland-chinese-investors-drive-hong-kong-wealth-boom-despite-new-tax-rules-report?utm_source=rss_feed Fri, 11 Sep 2026 09:00:16 +0000 Ralph Jennings,Christina Zhao Ralph Jennings,Christina Zhao Expanding use of the Chinese yuan in fast-growing Central Asia, where China is a top investor, can reduce risks and costs for infrastructure firms, part of a broader trend that sees the currency gaining ground wherever commercial flows create demand for it, according to speakers on an investment panel in Hong Kong on Thursday. Smoother access to the yuan would lower risks inherent in currency exchanges, particularly when the more internationalised US dollar is trending strong, and bring down the... https://www-scmp-com.libproxy1.nus.edu.sg/economy/article/3367078/investment-surge-central-asia-drives-calls-expanded-use-chinese-yuan?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/article/3367078/investment-surge-central-asia-drives-calls-expanded-use-chinese-yuan?utm_source=rss_feed Thu, 10 Sep 2026 13:00:11 +0000 Winston Mok Winston Mok Although President Xi Jinping and Indian Prime Minister Narendra Modi shared a brief exchange last week at the Shanghai Cooperation Organisation summit in Bishkek, Kyrgyzstan, the real action will unfold later this week at the Brics summit when Xi arrives in New Delhi with an expected delegation of 400 officials. China is one of India’s top trading partners, yet it remains unclear whether Chinese companies are welcome as investors in India. The two countries’ trade and investment relationship... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/asia-opinion/article/3366626/match-chinas-economy-india-must-accept-its-investment?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/asia-opinion/article/3366626/match-chinas-economy-india-must-accept-its-investment?utm_source=rss_feed Tue, 08 Sep 2026 08:30:12 +0000 Enoch Yiu Enoch Yiu Hong Kong should consider allowing the Mandatory Provident Fund to invest in more asset classes, and lure more long-term patient mainland capital, such as pension funds, to invest globally through the city, the Financial Services Development Council (FSDC) said in a report on Tuesday. The MPF, the city’s compulsory retirement scheme, now has total assets of HK$1.67 trillion (US$213 billion) and invests in stocks, bonds and deposits. The FSDC suggests allowing a portion of the funds to be... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3366722/expand-hong-kongs-mpf-investment-choices-lure-mainland-pension-funds-financial-council?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3366722/expand-hong-kongs-mpf-investment-choices-lure-mainland-pension-funds-financial-council?utm_source=rss_feed Tue, 08 Sep 2026 06:30:08 +0000 Neil Denslow Neil Denslow Kazakhstan and Hong Kong could partner to build biotech unicorns – private start-ups valued at US$1 billion or more – by linking the Central Asian country’s strong tech workforce with the city’s global financial network, a top academic has said. Huck-Hui Ng, dean of the school of medicine at Kazakhstan’s Nazarbayev University, said the nascent biotech sector in the country has already produced several start-ups in areas including artificial intelligence (AI) and digital health, and could build a... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3366686/kazakhstan-hong-kong-can-build-biotech-unicorns-linking-talent-and-capital?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3366686/kazakhstan-hong-kong-can-build-biotech-unicorns-linking-talent-and-capital?utm_source=rss_feed Mon, 07 Sep 2026 15:53:57 +0000 SCMP Editorial SCMP Editorial China’s National Social Security Fund (NSSF) has reached a pivotal inflection point. The doubling of its offshore investments to 580 billion yuan (US$86 billion) over three years – now comprising 15.23 per cent of its total assets – signals not merely an incremental shift in asset allocation, but also a strategic recalibration necessitated by demographic pressures and diminishing domestic returns. For Hong Kong, this transformation represents perhaps the most consequential opportunity to cement... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3366355/hong-kong-must-position-itself-bridge-chinas-outbound-funds?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3366355/hong-kong-must-position-itself-bridge-chinas-outbound-funds?utm_source=rss_feed Sun, 06 Sep 2026 23:15:12 +0000 Zhu Wenqian Zhu Wenqian The revelation that Rich Dad, Poor Dad author Robert Kiyosaki has amassed a staggering debt pile has sparked heated discussion in China, where property investors have suffered painful losses in recent years amid a deep market downturn. The 79-year-old Japanese-American author, who inspired generations of investors to take on leverage to scale up their investments, claimed in a series of podcast interviews over the summer that he owed US$1.2 billion. His ex-wife and long-term business partner Kim... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3366384/rich-dad-poor-dad-authors-vast-debts-spark-awe-and-some-bitterness-china?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3366384/rich-dad-poor-dad-authors-vast-debts-spark-awe-and-some-bitterness-china?utm_source=rss_feed Sat, 05 Sep 2026 08:00:07 +0000 Yulu Ao Yulu Ao Young Chinese investors are increasingly turning to offshore assets for wealth preservation and diversification, with more than four-fifths of those surveyed reporting some exposure outside mainland China, a recent study by the CFA Institute showed. About 81 per cent of young Chinese investors surveyed had offshore investments, with such assets accounting for an average 43 per cent of their portfolios, according to the report. The study, conducted in December by the CFA Institute – which trains... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3366245/about-4-5-young-affluent-investors-mainland-china-turn-offshore-assets-study?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3366245/about-4-5-young-affluent-investors-mainland-china-turn-offshore-assets-study?utm_source=rss_feed Thu, 03 Sep 2026 09:33:13 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s lived-in home prices fell 0.46 per cent in July, halting a 13-month upswing, according to the latest official data. The index tracking second-hand homes slipped to 321.5 in July from 323 in June, Rating and Valuation Department (RVD) data showed on Thursday. It was the first decline in 16 months, following a drop in April last year. Prices were flat that May, then climbed steadily for 13 months starting in June. “As residential property prices have increased by 7.3 per cent year to... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3365479/hong-kong-home-prices-end-13-month-upswing-mainland-chinese-tax-fears-weigh-demand?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3365479/hong-kong-home-prices-end-13-month-upswing-mainland-chinese-tax-fears-weigh-demand?utm_source=rss_feed Fri, 28 Aug 2026 00:00:16 +0000 Wynna Wong Wynna Wong Hong Kong companies should accelerate their expansion into the Middle East, the Asean bloc and Central Asia to reduce their exposure to geopolitical risks, a lawmaker has said, as the US moved to disrupt immigrant-visa appointments worldwide. Jonathan Lamport, the representative for the Hong Kong General Chamber of Commerce (HKGCC) in the Legislative Council, said the visa uncertainty reinforced the need for companies to broaden their overseas presence beyond traditional Western markets. “The... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3365365/hong-kong-lawmaker-urges-firms-expand-middle-east-asean-amid-us-visa-pause?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3365365/hong-kong-lawmaker-urges-firms-expand-middle-east-asean-amid-us-visa-pause?utm_source=rss_feed Wed, 26 Aug 2026 14:12:22 +0000 Zhang Shidong Zhang Shidong China’s deliberation on its sweeping cross-border anti-corruption law may ripple through Hong Kong’s financial and property markets, as Beijing seeks harsher punishments for corrupt officials and broadens its scrutiny of the massive pool of wealth transferred overseas. Hong Kong remains in focus after the draft law was submitted on Tuesday to the standing committee of the national legislature for deliberation, analysts said. The law was “designed to give mainland authorities a clearer statutory... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3365213/hong-kongs-property-financial-markets-face-test-under-cross-border-anti-corruption-law?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3365213/hong-kongs-property-financial-markets-face-test-under-cross-border-anti-corruption-law?utm_source=rss_feed Tue, 25 Aug 2026 23:00:08 +0000 Sherry Wang Sherry Wang As China is set to flesh out rules that would put individual investors on the same regulatory footing as companies when it comes to outbound investment, covering everything from purchases of overseas property to acquisitions of foreign companies, legal experts said the move will close grey areas long used by wealthy individuals to channel assets abroad. The National Development and Reform Commission (NDRC) on Friday released a draft revision of its measures governing outbound investment and... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365206/china-moves-close-regulatory-loopholes-overseas-investment-wealthy-individuals?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365206/china-moves-close-regulatory-loopholes-overseas-investment-wealthy-individuals?utm_source=rss_feed Tue, 25 Aug 2026 11:30:07 +0000 Enoch Yiu,Christina Zhao Enoch Yiu,Christina Zhao Ping An Insurance (Group), China’s largest insurer in terms of market capitalisation, is eyeing investments in Hong Kong-listed exchange-traded funds (ETFs) to boost returns following Beijing’s green light for cross-border allocations, according to senior executives. “Allowing mainland insurance funds to invest in Hong Kong listed ETFs is set to tighten the ties between Hong Kong and the mainland capital market,” said Richard Sheng, secretary of the company’s board, after a press conference on... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3364844/chinese-insurer-ping-eyes-hong-kong-etfs-beijing-greenlights-cross-border-investment?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3364844/chinese-insurer-ping-eyes-hong-kong-etfs-beijing-greenlights-cross-border-investment?utm_source=rss_feed Fri, 21 Aug 2026 10:31:35 +0000 Cheryl Arcibal Cheryl Arcibal Prudential Hong Kong has agreed to lease headquarters space at Swire Properties’ One Taikoo Place and One Island East, marking a notable expansion of its office footprint in the city, according to the developer. Under the agreement, the insurer will occupy a total of 83,000 sq ft across the two buildings, “reinforcing the company’s commitment to Hong Kong and Taikoo Place as its long-term headquarters”, said Swire Properties, one of Hong Kong’s largest commercial developers and landlords, in a... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3364575/prudential-hong-kong-expands-headquarters-amid-beijings-intensified-wealth-oversight?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3364575/prudential-hong-kong-expands-headquarters-amid-beijings-intensified-wealth-oversight?utm_source=rss_feed Wed, 19 Aug 2026 10:36:02 +0000 Emma Ma Emma Ma For Sarah Wang, a Shanghai-based tax lawyer who specialises in structuring offshore trusts, most of her high-net-worth (HNW) and ultra-high-net-worth clients have hit pause on their arrangements. “Some clients were midway through establishing offshore trusts, but now they have put their plans on hold following the new regulatory developments,” she said. “Others weighing up similar structures are also shelving their plans for the time being.” The “new developments” in question were rules unveiled... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3364418/chinas-wealthy-used-grey-zones-avoid-taxes-have-new-rules-painted-them-corner?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3364418/chinas-wealthy-used-grey-zones-avoid-taxes-have-new-rules-painted-them-corner?utm_source=rss_feed Tue, 18 Aug 2026 22:00:08 +0000 Junjie Wang Junjie Wang – https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3364014/chinas-central-asia-push?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3364014/chinas-central-asia-push?utm_source=rss_feed Fri, 14 Aug 2026 07:40:20 +0000 Enoch Yiu Enoch Yiu Hong Kong’s government is set to reappoint Clement Cheung Wan-ching as CEO of the Insurance Authority for another three-year term on Friday, according to two sources with knowledge of the matter. The move is aimed at ensuring continuity and stability in the city’s insurance sector, as the industry faces unprecedented headwinds amid Beijing’s offshore tax clampdown, one source told the South China Morning Post. Cheung, who has led the insurance regulator since 2018, is due to complete his current... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3363951/hong-kong-reappoint-insurance-regulator-industry-braces-tough-period-sources?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3363951/hong-kong-reappoint-insurance-regulator-industry-braces-tough-period-sources?utm_source=rss_feed Thu, 13 Aug 2026 23:30:07 +0000 Matteo Giovannini Matteo Giovannini Financial markets have been gripped by concern in recent days over reports that China was introducing a new tax on returns from offshore insurance policies. The significance of the episode could prove more complex than the initial market reaction suggests. According to a report from Caixin, Chinese tax authorities have sought to collect tax on investment returns generated by offshore insurance policies held by mainland residents, with early enforcement cases reportedly emerging in Beijing and... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/hong-kong-opinion/article/3363670/beijings-offshore-insurance-tax-tests-hong-kong-wealth-management?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/hong-kong-opinion/article/3363670/beijings-offshore-insurance-tax-tests-hong-kong-wealth-management?utm_source=rss_feed Thu, 13 Aug 2026 08:30:07 +0000 Peggy Ye Peggy Ye The recovery of Hong Kong’s property market could face a fresh test if Beijing’s expanding crackdown on offshore wealth extends beyond insurance returns to property income, potentially curbing demand from mainland China and adding pressure to decentralised office markets, according to analysts. The immediate issue is a reported 20 per cent personal income tax on certain returns earned by mainland residents from offshore assets, including gains from Hong Kong insurance policies. While the levy... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3363634/hong-kong-property-recovery-faces-new-risk-china-widens-offshore-tax-net?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3363634/hong-kong-property-recovery-faces-new-risk-china-widens-offshore-tax-net?utm_source=rss_feed Tue, 11 Aug 2026 23:51:55 +0000 Teresa Elena Frontado Teresa Elena Frontado The United States has stepped up scrutiny of China’s overseas lending, warning that the lack of transparency surrounding Chinese loans could increase the risk of unexpected defaults and debt restructuring in emerging markets. In its 2026 Fiscal Transparency Report, released on Tuesday, the US State Department said China had failed to meet its minimum transparency requirements, citing deficiencies in both its domestic finances and the disclosure of claims against foreign borrowers. “China’s lack... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3363707/us-faults-china-over-opaque-overseas-lending-warns-emerging-market-debt-risks?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3363707/us-faults-china-over-opaque-overseas-lending-warns-emerging-market-debt-risks?utm_source=rss_feed Tue, 11 Aug 2026 20:55:55 +0000 Sylvia Ma Sylvia Ma China’s booming panda bond market – yuan-denominated debt issued by foreign entities in the domestic market – offers a historic window for yuan internationalisation, according to a Goldman Sachs analyst, who also warned that lower funding costs alone could not sustain the currency’s global expansion. As the market attracted a broader mix of international issuers, gross panda bond issuance reached 160 billion yuan (US$23.7 billion) in the first half of the year, up more than 60 per cent from a... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3363498/panda-bond-boom-offers-historic-yuan-chance-cheap-funding-not-enough-goldman-sachs?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3363498/panda-bond-boom-offers-historic-yuan-chance-cheap-funding-not-enough-goldman-sachs?utm_source=rss_feed Mon, 10 Aug 2026 07:00:10 +0000 Themis Qi Themis Qi For decades, Hong Kong has been a magnet for the rich. From wealthy Chinese setting up family trusts to millionaires migrating from across Southeast Asia, all of them have been sucked in by the city’s promise of free capital flows, a trustworthy legal system and extensive financial expertise. It is a winning combination that helped Hong Kong leapfrog Switzerland as the world’s biggest cross-border wealth hub last year, as the city rode a wave of blockbuster listings by Chinese technology... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3363352/china-tightens-its-tax-rules-can-hong-kong-remain-magnet-billionaires?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3363352/china-tightens-its-tax-rules-can-hong-kong-remain-magnet-billionaires?utm_source=rss_feed Mon, 10 Aug 2026 02:00:19 +0000 Enoch Yiu Enoch Yiu China’s State Taxation Administration (STA) on Friday clarified that the 20 per cent personal income tax imposed on gains from offshore insurance policies was not a new policy – and was not specifically targeting the Hong Kong insurance industry. The STA urged the market not to overreact to the policy, according to an unnamed official quoted by Shanghai-based digital media outlet The Paper on Friday. The comments came a day after the share prices of several major Hong Kong-listed financial firms... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3363348/beijing-says-20-offshore-insurance-tax-not-new-and-does-not-target-hong-kong?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3363348/beijing-says-20-offshore-insurance-tax-not-new-and-does-not-target-hong-kong?utm_source=rss_feed Fri, 07 Aug 2026 12:23:55 +0000 Sylvia Ma Sylvia Ma China’s offshore yuan rose to a fresh three-year high on Friday after the central bank set the currency’s daily fixing stronger than 6.79 per US dollar for three straight days and a high-level meeting signalled further policy support. On Friday, the People’s Bank of China set the yuan’s midpoint, or the daily fixing rate, at 6.7894 per US dollar, marking the third straight session above 6.79. The level was marginally weaker than Thursday’s 6.7892, which was the strongest level since February... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3362507/chinas-offshore-yuan-hits-3-year-high-beijing-signals-policy-support?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3362507/chinas-offshore-yuan-hits-3-year-high-beijing-signals-policy-support?utm_source=rss_feed Fri, 31 Jul 2026 07:00:02 +0000 Zoe SL Chan Zoe SL Chan Beijing’s heightened scrutiny of overseas portfolio investment and tax practices has yet to significantly weaken mainland investors’ demand for legitimate cross-border investments, according to China International Capital Corporation (CICC). The Beijing-headquartered investment bank is still seeing “robust” demand from its domestic clients, though the long-term effects of the policy tightening will need to be closely monitored, said Qiao Bo, head of investment products and solutions and a... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3362458/cross-border-investment-still-robust-despite-chinas-growing-controls-cicc?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3362458/cross-border-investment-still-robust-despite-chinas-growing-controls-cicc?utm_source=rss_feed Fri, 31 Jul 2026 02:00:31 +0000 Sylvia Ma Sylvia Ma China has unveiled plans to waive issuance and servicing fees for panda bonds, adding fresh policy support to a market that has seen a surge in foreign borrowers seeking yuan funding amid a global “de-dollarisation” trend. China Central Depository and Clearing – the state-backed depository and clearing house serving much of China’s interbank bond market – said in a notice seeking public comment on Monday that the proposed measures would take effect from September and run through the end of... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3362091/china-waive-panda-bond-fees-through-2028-bolster-global-yuan-debt-market?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3362091/china-waive-panda-bond-fees-through-2028-bolster-global-yuan-debt-market?utm_source=rss_feed Tue, 28 Jul 2026 06:00:17 +0000 Zhang Shidong Zhang Shidong China is moving to heighten the scrutiny of overseas assets controlled by the country’s richest families by imposing personal-income taxes on their offshore trusts, plugging a loophole long leveraged by the wealthy to eschew tax payments and alleviating fiscal stresses brought on in part by a perennial downturn in home prices. A recent statement by the Ministry of Finance suggests that the government crackdown has progressed to the enforcement stage after a legal case concerning one of the... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3361907/china-cracks-down-offshore-trusts-new-tax-rules-wealthy?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3361907/china-cracks-down-offshore-trusts-new-tax-rules-wealthy?utm_source=rss_feed Mon, 27 Jul 2026 00:00:25 +0000 Alice Li Alice Li Chinese companies are deepening their participation in South Korea’s energy sector as state-owned nuclear giant CGN Energy International begins operations at a self-developed power project, helping supply China’s power-hungry neighbour amid a surge in electricity demand driven by an artificial intelligence boom. The gas-fired facility, located in Seosan, northwestern South Korea, commenced commercial operations on Friday. With an installed capacity of 557 megawatts, it was expected to generate... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3361760/chinese-energy-giant-opens-new-plant-south-korea-ai-ambitions-intensify-power-crisis?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3361760/chinese-energy-giant-opens-new-plant-south-korea-ai-ambitions-intensify-power-crisis?utm_source=rss_feed Fri, 24 Jul 2026 11:00:08 +0000 Chelsea Yang Chelsea Yang Chinese regulators moved on Tuesday to improve the quality of credit ratings for panda bonds – a yuan-denominated asset class that has seen a surge in interest from foreign sovereign and institutional investors this year as a key tool to bolster Beijing’s yuan-internationalisation push. Credit-rating agencies must adhere to the principles of independence, objectivity and prudence, according to a circular posted to the website of the National Association of Financial Market Institutional... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3361457/china-targets-panda-bond-reform-mandates-global-credit-mapping-lure-foreign-capital?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3361457/china-targets-panda-bond-reform-mandates-global-credit-mapping-lure-foreign-capital?utm_source=rss_feed Wed, 22 Jul 2026 09:00:39 +0000 Themis Qi Themis Qi Two Chinese state media outlets warned on Monday against offshore tax evasion by calling out an incident involving a major social media platform and its Hong Kong entity, sending a message that Beijing is intensifying its scrutiny of cross-border corporate structures. The China Securities Journal, which is affiliated with Xinhua, and the Financial News, which is supervised by China’s central bank, revealed the enforcement action, highlighting a broader regulatory tightening over the way mainland... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3361322/china-intensifies-cross-border-tax-scrutiny-beijing-warns-against-offshore-dodging?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3361322/china-intensifies-cross-border-tax-scrutiny-beijing-warns-against-offshore-dodging?utm_source=rss_feed Tue, 21 Jul 2026 08:00:15 +0000 Yulu Ao Yulu Ao Zhang Yichen is chairman and CEO of Citic Capital Holdings, one of the leading players in China’s capital market, and the chairman of Trustar Capital. He heads several companies, including the McDonald’s master franchise business in mainland China and Hong Kong as well as Harbin Pharmaceutical Group. He also sits on the board of Hong Kong Exchanges and Clearing (HKEX) as an independent non-executive director. In this interview, conducted during the “two sessions” – the annual meetings of China’s... https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3360864/citic-capital-ceo-making-china-financial-powerhouse?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3360864/citic-capital-ceo-making-china-financial-powerhouse?utm_source=rss_feed Fri, 17 Jul 2026 02:40:42 +0000 Ralph Jennings Ralph Jennings The strength of a Chinese passport has risen steadily in recent years based on people’s mobility, investments and quality of life, a London-based immigration consultancy said. The passport climbed to 104th this year from 117th in 2021, in a ranking of 197 countries and territories by the investment migration and relocation consultancy Global Citizen Solutions. While its status had risen from a “low base” and Chinese travellers still faced more closed borders than open ones, Global Citizen... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3359291/chinas-passport-climbs-global-rankings-economic-influence-grows-index-finds?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3359291/chinas-passport-climbs-global-rankings-economic-influence-grows-index-finds?utm_source=rss_feed Fri, 03 Jul 2026 08:00:11 +0000 Lawrence J. Lau Lawrence J. Lau The China Securities Regulatory Commission recently fined three Hong Kong brokerages – Tiger Brokers, Futu Securities International and Longbridge Securities – over US$330 million for offering mainland investors access to overseas stocks without authorisation. This should not be misconstrued as a move to discourage overseas investment. It is merely an attempt to discourage mainland investors from illegal channels that violate China’s capital controls. This is evidenced by the fact that the... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/china-opinion/article/3358927/when-and-how-will-china-ease-capital-controls?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/china-opinion/article/3358927/when-and-how-will-china-ease-capital-controls?utm_source=rss_feed Thu, 02 Jul 2026 12:30:11 +0000 Ralph Jennings Ralph Jennings China has enacted a sweeping overseas-investment law that aims to safeguard national interests against trade barriers and unauthorised use of advanced technology abroad, though analysts warn that the move could complicate operations for foreign partners. The State Council’s 34-article Regulation on Overseas Investment, taking effect on Wednesday, authorises “necessary and defensive measures” to protect Chinese investors and interests overseas in response to foreign trade-related barriers. Under... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3358972/chinas-new-investment-law-asserts-control-over-offshore-tech-transfers-landmark-move?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3358972/chinas-new-investment-law-asserts-control-over-offshore-tech-transfers-landmark-move?utm_source=rss_feed Wed, 01 Jul 2026 03:00:26 +0000 Daisy Wu Daisy Wu Hong Kong has been seizing every opportunity to consolidate its role as a global financial centre, leveraging unique advantages and national strategies. In the first piece of our miniseries focusing on the city’s financial industry ahead of the handover anniversary, we examine what Shanghai’s rapid development of offshore markets means to Hong Kong. Beijing’s latest push to strengthen Shanghai’s offshore financial capabilities is prompting fresh questions about whether Hong Kong’s long-standing... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3358213/tale-two-cities-can-shanghai-challenge-hong-kongs-offshore-finance-crown?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3358213/tale-two-cities-can-shanghai-challenge-hong-kongs-offshore-finance-crown?utm_source=rss_feed Thu, 25 Jun 2026 03:30:09 +0000 Frank Chen,Ralph Jennings Frank Chen,Ralph Jennings Nearly a decade ago, one of China’s largest textile exporters concocted a plan to hedge against trade barriers championed by US President Donald Trump during his first term. Its owners were convinced that moving their primary production base from China’s east coast to Vietnam would be a permanent workaround – bypassing complex supply-chain pitfalls by hunkering down in a tariff lowland and continuing to stock Walmart shelves with socks and towels. Trying to get the jump on Trump in 2017, from... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3358194/why-vietnam-detour-us-bound-chinese-goods-hit-dead-end?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3358194/why-vietnam-detour-us-bound-chinese-goods-hit-dead-end?utm_source=rss_feed Wed, 24 Jun 2026 22:00:15 +0000 Zoe SL Chan Zoe SL Chan Chinese regulators have tightened one of the remaining channels for gaining exposure to overseas assets through derivatives, the latest sign that authorities are continuing efforts to close regulatory loopholes and curb domestic investors’ access to higher-risk offshore markets. Rather than launching another high-profile crackdown like last month’s action against unlicensed offshore brokers, including Futu and Tiger Brokers, regulators have instead targeted total return swaps (TRS) through... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3358240/china-closes-another-offshore-investing-loophole-trs-faces-restrictions?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3358240/china-closes-another-offshore-investing-loophole-trs-faces-restrictions?utm_source=rss_feed Wed, 24 Jun 2026 12:35:19 +0000 Sylvia Ma Sylvia Ma China’s crackdown on cross-border securities trading could strengthen – rather than diminish – Hong Kong’s financial role, according to economists, as Beijing steers more capital through official channels and reinforces the city’s status as an offshore yuan hub. “I would argue that these moves make the importance of Hong Kong even bigger,” Diana Choyleva, founder and chief economist at Enodo Economics, said on Tuesday at the World Economic Forum’s Annual Meeting of the New Champions – also known... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3358091/chinas-trading-crackdown-seen-boosting-hong-kong-official-capital-hub?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3358091/chinas-trading-crackdown-seen-boosting-hong-kong-official-capital-hub?utm_source=rss_feed Tue, 23 Jun 2026 13:00:10 +0000 Themis Qi Themis Qi China’s Contemporary Amperex Technology Ltd (CATL), the world’s top lithium-ion battery maker, plans a major boost in production of sodium-based cells, a move that will help it navigate volatility in material prices while affecting both the electric vehicle (EV) and grid-storage sectors. The company’s planned annual production of 200 gigawatt-hours (GWh) of sodium-ion cells would represent nearly three times last year’s global production capacity, which was estimated at 70GWh, according to the... https://www-scmp-com.libproxy1.nus.edu.sg/business/climate-and-energy/article/3358074/chinas-catl-bets-big-sodium-ion-batteries-navigate-lithium-price-volatility?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/climate-and-energy/article/3358074/chinas-catl-bets-big-sodium-ion-batteries-navigate-lithium-price-volatility?utm_source=rss_feed Tue, 23 Jun 2026 10:00:55 +0000