https://www-scmp-com.libproxy1.nus.edu.sg/rss/325959/feed Key developments in regulation of financial markets with a focus on those in Hong Kong and mainland China. en https://assets-v2.i-scmp.com/production/static/img/icons/scmp-meta-1200x630.png https://www-scmp-com.libproxy1.nus.edu.sg Xinmei Shen Xinmei Shen In September, Chief Executive John Lee Ka-chiu unveiled the city’s first five-year plan along with his policy address, highlighting Hong Kong’s strategic role in promoting the greater use of the yuan outside mainland China as a key priority. In the third part of a four-part series on the globalisation of the yuan, Xinmei Shen explores how Hong Kong is testing the interoperability of the e-CNY and other digital assets in an effort to broaden the currency’s international appeal. In a US Senate... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3372448/beijing-wants-hong-kong-sow-seeds-digital-yuan-will-its-plans-bear-fruit https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3372448/beijing-wants-hong-kong-sow-seeds-digital-yuan-will-its-plans-bear-fruit Wed, 28 Oct 2026 22:00:10 +0000 Emma Ma Emma Ma Against a backdrop of geopolitical strains in the Middle East, the Yulan renminbi bond structure has made its debut in Dubai, garnering strong investor interest with its order book more than five times oversubscribed, as global investor appetite for yuan assets remains firm. Bank of China Dubai rang the listing bell at Nasdaq Dubai on Tuesday for its offshore bond, issued under the Yulan structure. Priced at 2 billion yuan (US$299.6 million) with a two-year tenor, the deal tightened 50 basis... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3372411/yulan-bond-debuts-dubai-amid-beijings-yuan-denominated-asset-push https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3372411/yulan-bond-debuts-dubai-amid-beijings-yuan-denominated-asset-push Wed, 28 Oct 2026 07:07:07 +0000 Daisy Wu Daisy Wu In September, Chief Executive John Lee Ka-chiu unveiled the city’s first five-year plan along with his policy address, highlighting Hong Kong’s strategic role in promoting the greater use of the yuan outside mainland China as a key priority. In the second part of a four-part series on the globalisation of the yuan, Daisy Wu examines Hong Kong’s evolution from an offshore reservoir into a self-sustaining yuan ecosystem. Of the hundreds of thousands of people who cross the border between mainland... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3372292/how-hong-kong-went-yuan-gateway-complete-currency-ecosystem https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3372292/how-hong-kong-went-yuan-gateway-complete-currency-ecosystem Tue, 27 Oct 2026 22:00:15 +0000 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 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 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 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 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 Frank Chen,Alice Li Frank Chen,Alice Li Plenary sessions of the Central Committee, the upper echelon of China’s ruling Communist Party, are major events on the country’s political calendar. This month’s edition, the fifth plenum, is attracting even more attention as the world’s second-largest economy takes on a more prominent role in global affairs. In the first part of this series, Frank Chen and Alice Li track the ways top-level policy decisions flow down to local officials – and the challenges those officials face in balancing a... https://www-scmp-com.libproxy1.nus.edu.sg/economy/policy/article/3371666/china-moving-past-gdp-first-mindset-can-local-officials-get-programme https://www-scmp-com.libproxy1.nus.edu.sg/economy/policy/article/3371666/china-moving-past-gdp-first-mindset-can-local-officials-get-programme Wed, 21 Oct 2026 22:00:07 +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 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 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 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 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 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 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 Themis Qi Themis Qi International investors will keep an eye on a forum next week for clues from China’s regulators on how they plan to further open its financial markets, after Visa’s long-awaited approval fuelled hopes for deeper participation in the world’s second-largest economy. Regulators could announce more measures at the Financial Street Forum to deepen the internationalisation of the yuan and optimise the Connect series of cross-border investment links between investors in mainland China and the rest of... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3371171/financial-street-forum-forecast-calls-more-opening-chinese-regulators https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3371171/financial-street-forum-forecast-calls-more-opening-chinese-regulators Fri, 16 Oct 2026 10:00:34 +0000 Zoe SL Chan Zoe SL Chan Hong Kong regulators’ tough action to crack down on fraudulent activity in the initial public offering market is sending ripples across the city’s financial industry, with insiders predicting short-term turbulence as some listings are scaled back or even cancelled. Financial intermediaries and IPO sponsors in particular find themselves in a “difficult position”, as they are now expected to conduct deeper due diligence to ensure deals are free from distortions, sources told the South China... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3371074/hong-kongs-ipo-fraud-clampdown-sends-shock-waves-across-financial-sector https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3371074/hong-kongs-ipo-fraud-clampdown-sends-shock-waves-across-financial-sector Fri, 16 Oct 2026 01:06:30 +0000 Teresa Elena Frontado Teresa Elena Frontado Bank of America, the second-largest US bank, failed to promptly report hundreds of millions of dollars in suspicious transactions bearing signs of Chinese money-laundering networks, US regulators said on Tuesday, announcing more than US$1.21 billion in penalties for broader anti-money-laundering and sanctions failures. The Financial Crimes Enforcement Network, or FinCEN, said the activity included large wire transfers to counterparties in China, repeated credit-card purchases at major retailers... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3370920/bank-america-fined-us121-billion-us-flags-suspected-chinese-money-laundering https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3370920/bank-america-fined-us121-billion-us-flags-suspected-chinese-money-laundering Wed, 14 Oct 2026 17:47:33 +0000 Sylvia Ma Sylvia Ma As the US Treasury imposed historic fines on Bank of America over compliance failures involving Chinese money-laundering networks, analysts see the action as a signal that could prompt Western banks to tighten scrutiny of Chinese clients and cross-border transactions. The penalties, announced on Tuesday and totalling more than US$1.21 billion, included what the US Treasury described as its third-largest penalty on record and the largest in the history of the Office of the Comptroller of the... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3370870/what-does-historic-bank-america-fine-mean-us-china-capital-streams https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3370870/what-does-historic-bank-america-fine-mean-us-china-capital-streams Wed, 14 Oct 2026 13:00:09 +0000 Emma Ma Emma Ma Two decades before winning this year’s Nobel Prize in economics, US-born economist Michael Woodford was influential in shaping policy at the People’s Bank of China through his landmark models on economic downturns. In 2005, Woodford delivered a speech titled “Economic Literacy, Central Bank Communication, and Macroeconomic Stability” at a forum in Beijing, with tickets highly sought after, according to a report by state-owned China News Service at the time. Xie Ping, a professor at the Graduate... https://www-scmp-com.libproxy1.nus.edu.sg/economy/policy/article/3370726/how-nobel-laureate-michael-woodfords-research-shaped-policy-chinas-central-bank https://www-scmp-com.libproxy1.nus.edu.sg/economy/policy/article/3370726/how-nobel-laureate-michael-woodfords-research-shaped-policy-chinas-central-bank Tue, 13 Oct 2026 12:00:08 +0000 Zoe SL Chan,Enoch Yiu Zoe SL Chan,Enoch Yiu Hong Kong’s securities watchdog has moved against two syndicates suspected of being involved in three alleged initial public offering fraud schemes involving assets worth HK$4.6 billion (US$590 million), according to a statement released on Tuesday. The Securities and Futures Commission (SFC) also announced on the same day that it had suspended 65 listing applications in the first nine months of this year due to the poor quality of their listing sponsors’ work, in what analysts viewed as an... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3370697/hong-kong-watchdog-orders-suspension-third-stock-month https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3370697/hong-kong-watchdog-orders-suspension-third-stock-month Tue, 13 Oct 2026 07:00:10 +0000 Daisy Wu Daisy Wu Haidilao International Holding has agreed to provide its founder, Zhang Yong, with a one-month loan of up to the Hong Kong dollar equivalent of 100 million yuan (US$14.9 million), a move that has raised market speculation as investors closely watch Beijing’s October 22 deadline for offshore trust taxation. The Hong Kong-listed hotpot chain said in a stock exchange filing on Monday night that it would fund the loan from internal resources and charge interest at 0.6 percentage points above the... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3370680/why-haidilaos-us149-million-credit-line-founder-fuelling-china-tax-speculation https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3370680/why-haidilaos-us149-million-credit-line-founder-fuelling-china-tax-speculation Tue, 13 Oct 2026 06:00:11 +0000 Zhang Shidong Zhang Shidong China’s futures exchanges will intensify a crackdown on malfeasance linked to programme trading by defining specific violations, as Beijing seeks to contain any cross-asset risk that could place additional strain on the nation’s already struggling stock markets. Participants who failed to report and inspect clients’ programme trading, also known as quantitative trading, in compliance with the rules would be subject to disciplinary action, according to separate statements on the websites of... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3370671/china-tighten-leash-futures-quant-trading-contain-risks-amid-stock-slump https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3370671/china-tighten-leash-futures-quant-trading-contain-risks-amid-stock-slump Tue, 13 Oct 2026 03:35:59 +0000 Sylvia Ma Sylvia Ma Goldman Sachs president John Waldron has called on China to loosen foreign exchange rules, ease cross-border data restrictions and improve regulatory transparency as the country’s policymakers seek to strengthen Shanghai’s role as an international financial centre. Waldron, also the investment bank’s chief operating officer and widely seen as a front runner to succeed its current CEO David Solomon, expressed confidence in the city’s potential at an annual meeting of business leaders advising the... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3370551/goldman-sachs-president-urges-market-reforms-boost-shanghais-financial-hub-role https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3370551/goldman-sachs-president-urges-market-reforms-boost-shanghais-financial-hub-role Mon, 12 Oct 2026 06:07:33 +0000 Frank Chen Frank Chen For the past few months, this newspaper has extensively covered China’s ongoing clampdown on tax avoidance, especially its push to tax the income of super-rich families held in offshore trusts. We never expected to become targets of the campaign ourselves. But there have been signs in recent weeks that officials are starting to take an interest even in the incomes of South China Morning Post journalists, with several of us being contacted by the tax man. First, a colleague with our Beijing... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3370354/why-are-mainland-chinas-tax-officials-suddenly-so-interested-my-hong-kong-mpf https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3370354/why-are-mainland-chinas-tax-officials-suddenly-so-interested-my-hong-kong-mpf Sun, 11 Oct 2026 09:00:11 +0000 Tim Yuen Lingk Tim Yuen Lingk Fintech industry executives have stepped up lobbying for clearer regulations regarding prediction markets as they attempt to distance the business from gambling and also play down its risks. The calls, made at Thursday’s iFX Expo Asia in Hong Kong, come as regulators and legal experts in the city and across Asia debate whether such platforms should be regulated as financial products or as a form of gambling. “There is so much uncertainty,” said Nicholas Baumer, chief commercial officer of the... https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3370249/finance-or-gambling-prediction-market-players-push-regulatory-clarity-asia https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3370249/finance-or-gambling-prediction-market-players-push-regulatory-clarity-asia Fri, 09 Oct 2026 01:00:31 +0000 Enoch Yiu,Themis Qi Enoch Yiu,Themis Qi Hong Kong commercial banks continue to offer incentives to attract mainland visitors during the first golden week after Beijing tightened cross-border investment rules and enforced the collection of a 20 per cent levy on overseas investment or insurance gains. HSBC would offer up to HK$88,000 (US$11,215) for new high-end clients, as well as experiences including a National Day fireworks dinner and tickets to the China Open tennis tournament in Beijing or a K-pop concert, according to the bank’s... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3369382/hong-kong-banks-set-golden-week-lures-mainland-chinese-visitors-despite-new-levies https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3369382/hong-kong-banks-set-golden-week-lures-mainland-chinese-visitors-despite-new-levies Wed, 30 Sep 2026 15:39:25 +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 https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3369165/china-bans-online-promos-loans-insurance-private-brokers-prevent-loan-misuse Wed, 30 Sep 2026 02:00:12 +0000 Zhu Wenqian Zhu Wenqian Citi Research has turned bullish on China’s 30-year government bonds, projecting that yields will fall further even as US Treasury yields climb. In a Monday research note, analysts at the Wall Street bank recommended that investors go long on China’s 30-year sovereign debt, saying they expected the yield to fall towards 1.8 per cent while the 10-year yield could edge towards 1.6 per cent. The analysts attributed the outlook to easing supply pressures and improved market dynamics for China’s... https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3369198/why-citi-betting-chinas-30-year-bonds-us-treasury-yields-climb https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3369198/why-citi-betting-chinas-30-year-bonds-us-treasury-yields-climb Tue, 29 Sep 2026 09:22:43 +0000 Zhang Shidong Zhang Shidong Several Chinese mutual funds investing in US stocks have warned investors about risks associated with hefty premiums to their net asset values, highlighting persistent demand for US equities even after Beijing expanded quotas for outbound investment. At least six fund houses, including China Asset Management, Hua An Fund Management and China Universal Asset Management, issued warnings last week after the market prices of some of their funds rose substantially above their net asset values,... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3369001/china-fund-managers-warn-premium-risks-fresh-quotas-fail-ease-demand https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3369001/china-fund-managers-warn-premium-risks-fresh-quotas-fail-ease-demand Mon, 28 Sep 2026 03:48:05 +0000 Chris Tsang Chris Tsang Digital financial service providers, including online brokerages and digital banks that used to trumpet their “zero-branch, fully online” models, have been opening physical stores across Hong Kong recently. Analysts described it as a strategic trend aimed at enhancing brand image and service quality to capture market share, but added that the impact on the city’s retail property market would be limited. Futu Securities International (Hong Kong) opened a new global headquarters at Pacific Place... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3368474/physical-moves-online-financial-firms-unlikely-pump-property-market-analysts https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3368474/physical-moves-online-financial-firms-unlikely-pump-property-market-analysts Wed, 23 Sep 2026 07:00:05 +0000 Enoch Yiu Enoch Yiu Beijing and Hong Kong are laying the groundwork for a new phase of offshore yuan development and other goals after the city unveiled its first five-year plan, with banking and securities regulators set to provide more details on Wednesday. The city’s market regulator, the Securities and Futures Commission (SFC), would outline further details of the blueprint, chairman Kelvin Wong Tin-yau said on Monday. Hong Kong Monetary Authority chief executive Eddie Yue Wai-man is also expected to elaborate... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3368367/hong-kong-regulators-flesh-out-new-yuan-strategy-after-beijing-meetings https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3368367/hong-kong-regulators-flesh-out-new-yuan-strategy-after-beijing-meetings Tue, 22 Sep 2026 09:30:07 +0000 Zhu Wenqian Zhu Wenqian US asset manager BlackRock has obtained Qualified Domestic Institutional Investor (QDII) status in China, making it the first wholly foreign-owned public fund manager to obtain the qualification, with more such developments likely as Beijing signals broader financial opening. This qualification allows firms to raise funds in China and deploy part or all of the proceeds for overseas securities investment management through asset portfolios. New York-based Neuberger Berman, another foreign-owned... https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3368378/blackrock-gains-qdii-status-chinas-us149b-market-beijing-leans-opening https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3368378/blackrock-gains-qdii-status-chinas-us149b-market-beijing-leans-opening Tue, 22 Sep 2026 09:00:12 +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 https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3368032/mainland-tax-drive-flags-hong-kong-mpf-accounts-offshore-trusts Fri, 18 Sep 2026 11:00:09 +0000 Daisy Wu Daisy Wu Hong Kong is broadening its equity markets, deepening its offshore yuan business and expanding further into gold trading under its first five-year plan for economic and social development, as the city seeks to defend its standing as Asia’s top financial centre and close the gap with London. Unveiled on Wednesday by Chief Executive John Lee Ka-chiu alongside his 2026 policy address, the blueprint outlines a package of financial plans to “consolidate and enhance Hong Kong’s status as an... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367816/how-hong-kongs-new-5-year-plan-courts-global-capital-eye-market-dominance https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367816/how-hong-kongs-new-5-year-plan-courts-global-capital-eye-market-dominance Thu, 17 Sep 2026 07:00:09 +0000 Xinmei Shen Xinmei Shen The US Senate’s rejection of the Clarity Act – a landmark bill meant to regulate cryptocurrency market structure – has opened a window for Hong Kong to accelerate its digital asset ambitions, industry insiders say, even as the sector remains mired in a slump after a brief rally last month. Beijing’s ban on crypto remains in force in mainland China, but Hong Kong has received approval to develop itself as a digital asset hub, with the stalled push in Washington presenting the city with what... https://www-scmp-com.libproxy1.nus.edu.sg/business/cryptocurrency/article/3367694/us-crypto-bill-stumble-sparks-call-hong-kong-seize-critical-strategic-window https://www-scmp-com.libproxy1.nus.edu.sg/business/cryptocurrency/article/3367694/us-crypto-bill-stumble-sparks-call-hong-kong-seize-critical-strategic-window Wed, 16 Sep 2026 08:00:36 +0000 Daisy Wu Daisy Wu Hong Kong has retained its status as Asia’s top financial hub for a fourth consecutive edition of the Global Financial Centres Index (GFCI), even as many of the world’s leading centres saw their scores slip slightly amid rising geopolitical headwinds. The city also ranked third globally in the 40th edition of the twice-yearly report, released on Wednesday amid a remarkably tight race at the top of global finance. Hong Kong scored 756, just one point behind London and a point ahead of Singapore.... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367656/hong-kong-rated-asias-top-financial-hub-4th-straight-year-report https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367656/hong-kong-rated-asias-top-financial-hub-4th-straight-year-report Wed, 16 Sep 2026 06:00:06 +0000 Zoe SL Chan Zoe SL Chan Securities regulators in Hong Kong and mainland China are doubling down on efforts to raise the quality of Hong Kong initial public offerings (IPOs), which could slow the flow of new listings but would not reduce underlying demand, according to analysts. In an unusual move, the China Securities Regulatory Commission recently asked nine mainland companies, which had already been pre-approved for listings, to provide supplementary materials detailing fund usage, shareholding structures and pending... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367616/tighter-scrutiny-hong-kong-ipos-could-slow-deal-flow-analysts-say https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367616/tighter-scrutiny-hong-kong-ipos-could-slow-deal-flow-analysts-say Tue, 15 Sep 2026 13:00:06 +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 https://www-scmp-com.libproxy1.nus.edu.sg/business/money/wealth/article/3367437/nycs-wealthy-chinese-grapple-beijings-tax-rules-enforcement-deadline-nears 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/business/china-business/article/3367212/veteran-investor-fang-fenglei-why-china-investibility-debate-no-debate-all https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3367212/veteran-investor-fang-fenglei-why-china-investibility-debate-no-debate-all Sun, 13 Sep 2026 22:00:12 +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 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 Fri, 11 Sep 2026 09:00:16 +0000 Ji Siqi Ji Siqi Chinese financial authorities have pledged further steps to expand the yuan’s global use amid a broader de-dollarisation trend, while vowing to make listing on mainland stock exchanges the “primary” choice for top-tier domestic companies. “The internationalisation of the yuan is a continuous and steady process, and an irreversible trend,” said Lu Lei, deputy governor of the People’s Bank of China (PBOC), at a press conference on Thursday. To meet growing demand from market participants seeking... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3367083/china-says-yuans-global-rise-irreversible-and-has-strategy-back-it https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3367083/china-says-yuans-global-rise-irreversible-and-has-strategy-back-it Thu, 10 Sep 2026 12:11:02 +0000