https://www-scmp-com.libproxy1.nus.edu.sg/rss/33147/feed The Hong Kong Monetary Authority (HKMA) was established in April 1993 by merging the Office of the Exchange Fund with the Office of the Commissioner of Banking. The HKMA is responsible for maintaining monetary and banking stability, including maintaining currency stability within the framework of the Linked Exchange Rate system under which the Hong Kong dollar is pegged to the US dollar.<br /> en https://assets-v2.i-scmp.com/production/static/img/icons/scmp-meta-1200x630.png https://www-scmp-com.libproxy1.nus.edu.sg Enoch Yiu Enoch Yiu Around 280 of the world’s top bankers, including 120 group chairmen and CEOs, will gather in Hong Kong next week to learn how the city has been rethinking its playbook as it moves forward, Hong Kong Monetary Authority (HKMA) chief executive Eddie Yue Wai-man said on Monday. This year’s summit will host the biggest number of group-level executives since its inaugural forum in 2022. The financial luminaries include Morgan Stanley chairman Ted Pick, Goldman Sachs chairman David Solomon and... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3372140/top-bankers-gather-hong-kong-learn-how-city-has-been-rethinking-playbook https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3372140/top-bankers-gather-hong-kong-learn-how-city-has-been-rethinking-playbook Mon, 26 Oct 2026 07:00:14 +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 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 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 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 Edith Lin Edith Lin Hong Kong police have raised concerns over Apple’s refusal to activate an additional security protocol to prevent fraud despite repeated calls, as the force received more than 110 reports of unauthorised credit card transactions following the pre-order launch of the company’s latest model. The force said on Saturday that residents began reporting suspicious credit card purchases of the foldable iPhone Duo after online pre-orders started on Friday at 8pm. The largest transaction involved... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3371245/police-receive-over-100-reports-about-credit-card-charges-iphone-duo-pre-orders https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3371245/police-receive-over-100-reports-about-credit-card-charges-iphone-duo-pre-orders Sat, 17 Oct 2026 07:31:50 +0000 Enoch Yiu Enoch Yiu HSBC, Hong Kong’s biggest lender, said on Thursday it would double its artificial intelligence specialist team in the city to 300, a figure much larger than the workforce planned for its recently announced AI centre in Singapore. The announcement comes after Hong Kong’s regulators were reported to have raised concerns about the Singapore hub. The bank would double its AI specialist headcount in Hong Kong from 150 to 300 over the next two to three years, said David Liao Yi-chien, HSBC co-CEO for... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3370997/hsbc-double-hong-kong-ai-team-300-outpacing-singapore-plan https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3370997/hsbc-double-hong-kong-ai-team-300-outpacing-singapore-plan Thu, 15 Oct 2026 08:37:19 +0000 Matthew Cheng Matthew Cheng An Apec finance ministers’ meeting in Hong Kong this month will focus on fiscal policies that support livelihoods, financing for digital infrastructure, inclusive finance and young financial talent, underlining the city’s role as an international financial centre, the finance chief has said. “These four priorities are areas of strength for Hong Kong and fields in which we can make an active contribution,” Financial Secretary Paul Chan Mo-po wrote in his weekly blog on Sunday. “Hosting the... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3370472/hong-kong-finance-chief-highlights-4-priorities-ahead-apec-meeting-month https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3370472/hong-kong-finance-chief-highlights-4-priorities-ahead-apec-meeting-month Sun, 11 Oct 2026 04:22:33 +0000 Enoch Yiu Enoch Yiu As Hong Kong and Singapore compete for leadership in businesses ranging from foreign exchange trading to wealth management, the battleground has extended to artificial intelligence, with both cities vying to attract investment from HSBC Holdings and other major corporations, according to industry players. The issue came into focus after the Hong Kong Monetary Authority (HKMA) questioned HSBC about its decision to set up an AI centre in Singapore, despite Hong Kong being its single largest... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3370203/amid-battle-ai-edge-hong-kong-presses-hsbc-over-singapore-hub-decision-sources https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3370203/amid-battle-ai-edge-hong-kong-presses-hsbc-over-singapore-hub-decision-sources Thu, 08 Oct 2026 12:00:11 +0000 Enoch Yiu Enoch Yiu Hong Kong Monetary Authority (HKMA) has granted a banking licence to Bakai Bank, marking the first Central Asian bank to set up in Hong Kong amid closer ties in the economy and trade flows between China and the region, according to a statement on Monday. Bakai Bank, one of the largest lenders in Kyrgyzstan, will operate as a restricted licence bank in Hong Kong. It will be the 17th restricted licence bank in Hong Kong. Under the licence, it can take deposits of at least HK$500,000 (US$63,776)... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3365704/hkma-licenses-bakai-bank-citys-first-central-asia https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3365704/hkma-licenses-bakai-bank-citys-first-central-asia Mon, 05 Oct 2026 09:42:58 +0000 Matthew Cheng Matthew Cheng The Hong Kong government has pledged to expand its intellectual property (IP) financing sandbox scheme by adding more banks and enterprises, after seven corporate users found that a nine-month trial helped lower their borrowing costs. “This will help refine the IP ecosystem, including valuation practices, professional service costs, supporting measures and market awareness,” Carmen Chu Lap-kiu, executive director of banking supervision at the Hong Kong Monetary Authority (HKMA), said on... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3369312/hong-kong-expand-ip-financing-sandbox-after-7-firms-secure-cheaper-loans https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3369312/hong-kong-expand-ip-financing-sandbox-after-7-firms-secure-cheaper-loans Wed, 30 Sep 2026 07:27:21 +0000 Enoch Yiu Enoch Yiu HSBC on Wednesday named its stablecoin offering HSBC RedCoin, paving the way for Hong Kong’s biggest lender to make the coin available to the more than 3.3 million users of its PayMe app for money transfers, shopping and dining. When launched before the end of the year, the stablecoin would be offered only through PayMe and HSBC’s Hong Kong mobile banking app, HSBC said. The bank said it was optimistic about retail usage of HSBC RedCoin, as 74 per cent of respondents to a survey of more than... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3369284/hsbc-unveils-redcoin-name-its-hong-kong-stablecoin-33-million-payme-users https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3369284/hsbc-unveils-redcoin-name-its-hong-kong-stablecoin-33-million-payme-users Wed, 30 Sep 2026 04:18:24 +0000 Zoe SL Chan Zoe SL Chan The Hong Kong government has appointed Bryan Chan Ping-keung, a former executive at bourse operator Hong Kong Exchanges and Clearing (HKEX), as CEO to lead the development and operation of the city’s new central clearing and settlement system for gold. Chan will head Hong Kong Precious Metals Central Clearing (HKPMCC), a wholly government-owned entity established in January to run the clearing system for precious metals. His appointment would take effect on October 2 for a three-year term,... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3369079/hong-kong-finds-gold-trading-leader-former-exchange-executive-bryan-chan https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3369079/hong-kong-finds-gold-trading-leader-former-exchange-executive-bryan-chan Mon, 28 Sep 2026 10:40:33 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong developers have already sold all of the more than 290 new flats they launched over the weekend, as buyers look to lock in mortgages ahead of an anticipated rise in interest rates later this year, according to property agents. The decision by the city’s major banks to hold rates steady despite the US Federal Reserve’s recent rate increase appeared to have given buyers a push, with many expecting local rates to rise in the coming months, said Derek Chan Hoi-chiu, head of research at... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3368954/buyers-snap-new-hong-kong-flats-ahead-likely-interest-rate-rises https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3368954/buyers-snap-new-hong-kong-flats-ahead-likely-interest-rate-rises Sun, 27 Sep 2026 10:56:37 +0000 Enoch Yiu Enoch Yiu Bourse operator Hong Kong Exchanges and Clearing (HKEX) will launch yuan-denominated gold futures early next year, while the city’s de facto central bank plans to introduce more yuan products and platforms to support the diversification and digitalisation of the currency’s internationalisation, speakers at a banking summit said on Wednesday. “We have recently reactivated our gold contract in the US dollar. But in the future, perhaps sometime early next year, we will be coming up with a... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3368483/hong-kong-unveils-gold-bond-and-liquidity-plans-drive-next-phase-yuan-adoption https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3368483/hong-kong-unveils-gold-bond-and-liquidity-plans-drive-next-phase-yuan-adoption Wed, 23 Sep 2026 09:00:25 +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 Xinyi Wu Xinyi Wu China’s central bank has pledged to further open its financial sector during a meeting to solicit feedback from foreign financial institutions, amid broader efforts to shore up foreign corporate confidence and accelerate yuan internationalisation. Speaking to representatives from 15 foreign banks and investment firms on Monday, People’s Bank of China governor Pan Gongsheng vowed to promote “high-level financial opening-up”. “[We will] steadily expand two-way financial market access, optimise... https://www-scmp-com.libproxy1.nus.edu.sg/economy/article/3368336/china-signals-greater-market-access-offshore-yuan-growth-meeting-banking-giants https://www-scmp-com.libproxy1.nus.edu.sg/economy/article/3368336/china-signals-greater-market-access-offshore-yuan-growth-meeting-banking-giants Tue, 22 Sep 2026 05:17:11 +0000 Xinmei Shen Xinmei Shen The US Federal Reserve raised its benchmark interest rate by a quarter of a percentage point this week, followed by the Hong Kong Monetary Authority and the Bank of Japan, while the 10-year US Treasury yield fell back below 5 per cent. Here are some of the figures that have drawn the most market attention this week. Fed raises interest rates for first time since 2023 The US Federal Open Market Committee voted unanimously on Thursday to raise rates by 25 basis points to a target range of 3.75 to... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367978/us-fed-rates-chinas-global-export-share-4-figures-shaping-markets https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367978/us-fed-rates-chinas-global-export-share-4-figures-shaping-markets Fri, 18 Sep 2026 07:00:23 +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 Enoch Yiu Enoch Yiu Hong Kong’s Exchange Fund, the war chest used to defend the local currency, is considering increasing its exposure to gold and other precious metals as part of the government’s push to develop the city into a gold trading hub. Hong Kong Monetary Authority (HKMA) chief executive Eddie Yue Wai-man said on Thursday that the Exchange Fund would continue to invest mainly in US dollar assets to support the Hong Kong dollar’s peg with the US currency. Yue said the Exchange Fund could increase its... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367814/exchange-fund-weighs-bigger-gold-holdings-support-hong-kongs-trading-hub-plan https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367814/exchange-fund-weighs-bigger-gold-holdings-support-hong-kongs-trading-hub-plan Thu, 17 Sep 2026 06:00:14 +0000 Denise Tsang Denise Tsang Longer-term vision and policies with continuity mapped out in Hong Kong’s inaugural five-year plan, along with the latest policy blueprint, offer investment opportunities and greater stability for investors, according to experts and commentators. Hong Kong marked a historic milestone on Wednesday when Chief Executive John Lee Ka-chiu rolled out the city’s first five-year development plan with his fifth policy address to align with China’s long-term national strategy. The explicit directions Lee... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3367773/hong-kongs-5-year-plan-policy-continuity-offer-investors-more-stability-experts-say https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3367773/hong-kongs-5-year-plan-policy-continuity-offer-investors-more-stability-experts-say Thu, 17 Sep 2026 00:30:05 +0000 Enoch Yiu Enoch Yiu The Hong Kong dollar may come under pressure against the US dollar after the first interest rate rise in three years, but the city does not face a heightened bad-debt risk despite higher borrowing costs, according to the head of the city’s de facto central bank. Hong Kong Monetary Authority (HKMA) chief executive Eddie Yue Wai-man said the US Federal Reserve’s rate rise on Thursday would widen the gap between the market interest rates of the US dollar and the Hong Kong dollar, encouraging more... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367783/hkma-raises-base-rate-quarter-point-425-first-increase-2023 https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367783/hkma-raises-base-rate-quarter-point-425-first-increase-2023 Wed, 16 Sep 2026 23:03:43 +0000 Lam Ka-sing Lam Ka-sing Hong Kong will expand the use of the yuan in areas including gold trading and cross-border payments, as policy blueprints call for the city’s biggest push yet to internationalise the Chinese currency. Chief Executive John Lee Ka-chiu on Wednesday devoted part of the city’s first five-year plan and his annual policy address to developing a gold trading ecosystem and creating a regional intellectual property trading centre in the city. “We will consolidate and enhance Hong Kong’s status as an... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3367770/hong-kong-targets-gold-trading-fps-unionpay-link-boost-yuan-use https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3367770/hong-kong-targets-gold-trading-fps-unionpay-link-boost-yuan-use Wed, 16 Sep 2026 15:37:51 +0000 Connor Mycroft Connor Mycroft Hong Kong Chief Executive John Lee Ka-chiu has placed deepening integration with mainland China and developing new economic engines centre stage as he unveiled the city’s first-ever five-year plan alongside the last policy address of his term. During his landmark speech on Wednesday, which ran just one minute shy of three hours, Lee laid out how the city’s first five-year plan would align the city more closely with the national development blueprint, while the policy address would serve as the... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/politics/article/3367706/14-key-takeaways-john-lees-policy-address-hong-kongs-first-5-year-plan https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/politics/article/3367706/14-key-takeaways-john-lees-policy-address-hong-kongs-first-5-year-plan Wed, 16 Sep 2026 09:37:58 +0000 Rick Boost Rick Boost The start and end points of the Silk Road at its historical peak are crucial to its significance. Land routes wound for thousands of miles from China over mountains and deserts, concluding in the Middle East, connecting the age’s two world leaders in scientific and economic power: the Tang dynasty and the Abbasid Caliphate. While systems of trade have radically changed in the centuries since, the modern iteration of this link, the Belt and Road Initiative (BRI), has firmly established a new... https://www-scmp-com.libproxy1.nus.edu.sg/special-reports/article/3367524/digital-silk-road-hong-kong-acts-financial-bridge-between-china-and-mena https://www-scmp-com.libproxy1.nus.edu.sg/special-reports/article/3367524/digital-silk-road-hong-kong-acts-financial-bridge-between-china-and-mena Wed, 16 Sep 2026 00:00:09 +0000 Simpson Cheung Simpson Cheung Hong Kong police have received reports from more than 700 people about unauthorised credit card transactions worth HK$14.7 million (US$1.87 million) linked to pre-orders of Apple’s newest iPhones, prompting the force and major banks to launch investigations. A police spokesman said the force’s e-Report Centre received the reports on Saturday and Sunday from individuals who suspected that their credit cards were fraudulently used for online purchases of smartphones. The largest single case... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3367342/hongkongers-hit-unauthorised-charges-new-iphone-2-banks-launch-probes https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3367342/hongkongers-hit-unauthorised-charges-new-iphone-2-banks-launch-probes Sun, 13 Sep 2026 07:20:58 +0000 Zoe SL Chan Zoe SL Chan Sohar International Bank, Oman’s second-largest bank by total assets, will open a local representative office in Hong Kong this week, according to sources, underlining the city’s role as a stable financial hub amid Middle East conflicts. CEO Abdulwahid Mohamed Al Murshidi will visit Hong Kong for the office’s opening ceremony on Thursday morning, according to a source, who requested anonymity as the information was private. The new office, located at Cheung Kong Center II in Central, represents... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3366841/omans-no-2-bank-sohar-international-open-representative-office-hong-kong-week https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3366841/omans-no-2-bank-sohar-international-open-representative-office-hong-kong-week Wed, 09 Sep 2026 02:00:16 +0000 Daisy Wu Daisy Wu The global rise of the renminbi, the Chinese currency also known as the yuan, is being driven by shifting supply chains rather than a campaign against the US dollar, according to a senior Deutsche Bank executive, following the German lender’s appointment as Europe’s first non-Chinese renminbi clearing house. Konrad Haunit, Deutsche Bank’s head of multinational corporate coverage for the Asia-Pacific, Middle East and Africa, said the yuan’s use had grown steadily over the past five years. “It’s... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3366845/deutsche-bank-sees-supply-chains-driving-yuans-rise-global-trade https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3366845/deutsche-bank-sees-supply-chains-driving-yuans-rise-global-trade Wed, 09 Sep 2026 01:30:52 +0000 Christina Zhao Christina Zhao Sales of non-exchange-traded investment products in Hong Kong surged to a record HK$9.9 trillion (US$1.3 trillion) in 2025, marking a 63 per cent year-on-year increase, according to the latest joint survey by the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA). A significant expansion in market participation drove the record-breaking performance. The number of investors completing at least one transaction rose 33 per cent to a record at more than 1.6 million,... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3366789/investors-pour-record-us13-trillion-hong-kong-investment-products https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3366789/investors-pour-record-us13-trillion-hong-kong-investment-products Tue, 08 Sep 2026 10:19:06 +0000 Yulu Ao Yulu Ao Hong Kong unveiled an expanded sustainable finance taxonomy as the city kicked off its annual Green Week on Monday, broadening the range of economic activities recognised as green or transition. The Hong Kong Monetary Authority (HKMA) launched a public consultation on the Phase 2B prototype of its Hong Kong Taxonomy for Sustainable Finance, adding 10 activities across transportation, manufacturing and waste management. Together with the reclassification of existing categories, the... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3366529/hong-kong-broadens-sustainable-finance-taxonomy-framework-boost-transition-capital https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3366529/hong-kong-broadens-sustainable-finance-taxonomy-framework-boost-transition-capital Sun, 06 Sep 2026 23:00:12 +0000 Cheryl Arcibal Cheryl Arcibal Comments by US Federal Reserve chairman Kevin Warsh at its annual economic policy symposium in Jackson Hole last month have reinforced expectations of an impending interest rate rise in the world’s largest economy, which would have significant impacts on assets and investors around the world. While the Fed kept its target rate in the range of 3.5 to 3.75 per cent at its meeting in July, Warsh’s comments last month about it having work to do in controlling inflation have heightened expectations... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3366386/which-overseas-property-markets-will-be-winners-and-losers-if-fed-raises-us-rates https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3366386/which-overseas-property-markets-will-be-winners-and-losers-if-fed-raises-us-rates Sun, 06 Sep 2026 08:00:08 +0000 Simpson Cheung Simpson Cheung English Premier League football club Chelsea’s lucrative new front-of-shirt sponsorship deal with a stablecoin issuer has left Hong Kong fans and retailers concerned about whether wearing or selling the top counts as illegal promotion under digital currency laws. Chelsea signed the deal with Circle to feature its USDC stablecoin brand on player jerseys for the 2026-27 season in late August, just three months after the UK’s Financial Conduct Authority (FCA) warned Premier League clubs about... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3366500/why-chelsea-football-shirts-are-making-hong-kong-fans-nervous-about-crypto-laws https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3366500/why-chelsea-football-shirts-are-making-hong-kong-fans-nervous-about-crypto-laws Sun, 06 Sep 2026 01:00:13 +0000 Enoch Yiu Enoch Yiu The latest round of the Hong Kong government’s Silver Bonds programme has attracted a record number of subscriptions in terms of both quantity and value, as the city’s elderly investors seize the opportunity to secure better returns than those offered by bank deposits. Investors submitted 478,000 bids for HK$119.8 billion (US$15.28 billion) worth of bonds during the offering period, which ended at 2pm on Friday, according to a government spokesman. That represented a 22 per cent rise in terms of... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3366431/hong-kongs-silver-bonds-draw-record-480000-bids-higher-interest-rate https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3366431/hong-kongs-silver-bonds-draw-record-480000-bids-higher-interest-rate Fri, 04 Sep 2026 12:26:50 +0000 Chris Tsang Chris Tsang With expectations of a quarter-percentage-point increase in the US Federal Reserve’s target interest rate increasing following comments by Fed chairman Kevin Warsh last week, the Hong Kong property market is bracing for its potential impact. Following Warsh’s comments at the Jackson Hole economic symposium on Friday, the CME FedWatch tool, which tracks Fed funds futures contracts, indicated that expectations of a rate rise in the United States this month had doubled, with markets pricing in a 60... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3365920/rate-rise-expectations-mount-hong-kong-property-market-following-fed-chiefs-comments https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3365920/rate-rise-expectations-mount-hong-kong-property-market-following-fed-chiefs-comments Tue, 01 Sep 2026 04:00:02 +0000 Yulu Ao Yulu Ao Hong Kong’s financial regulators have selected the first batch of projects for an expanded generative artificial-intelligence (GenAI) testing programme spanning banking, securities, insurance and pensions, as the city explores the use of more autonomous AI agents in financial services. A total of 36 use cases were selected for the first cohort of the expanded GenAI Sandbox++ programme, according to a joint statement on Thursday by the Hong Kong Monetary Authority (HKMA), Securities and Futures... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3365478/hong-kong-expands-ai-sandbox-projects-include-banks-securities-and-insurance https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3365478/hong-kong-expands-ai-sandbox-projects-include-banks-securities-and-insurance Thu, 27 Aug 2026 11:30:08 +0000 Sylvia Ma Sylvia Ma Barry Eichengreen is a leading American economist and one of the world’s foremost experts on international monetary systems. He is a professor of economics and political science at the University of California, Berkeley, where he has taught since 1987. He served as a senior policy adviser at the International Monetary Fund in 1997-98. Here, he discusses why today’s “de-dollarisation” talk is different from past episodes, how close the world is to a reshuffling of the international monetary... https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3364644/top-economist-how-china-should-prep-dollar-eras-end https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3364644/top-economist-how-china-should-prep-dollar-eras-end Thu, 20 Aug 2026 05:03:28 +0000 Daisy Wu Daisy Wu Hong Kong’s fast-transfer payments denominated in yuan surged to a six-month high in July, signalling accelerating adoption of real-time cross-border retail payment channels even as mainland Chinese authorities maintain tight controls on capital outflows. Transaction values through Hong Kong’s Faster Payment System (FPS) for yuan reached 35.03 billion yuan (US$5.19 billion) in July, marking a 34 per cent increase from February, according to official data published by Hong Kong Interbank Clearing... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3364413/use-yuan-hits-6-month-high-hong-kongs-fast-payment-system https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3364413/use-yuan-hits-6-month-high-hong-kongs-fast-payment-system Wed, 19 Aug 2026 00:00:11 +0000 Lo Hoi-ying Lo Hoi-ying Changes in US trade policy and interest rate trends will significantly affect Hong Kong’s economy but the impact will be “primarily psychological”, the finance chief has said, while expressing optimism that growth momentum will continue in the second half of the year. Financial Secretary Paul Chan Mo-po also revealed on Sunday that Hong Kong welcomed 31 million visitors in the first seven months of 2026, a 12 per cent year-on-year increase. Passenger traffic at Hong Kong International Airport... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3364173/impact-us-trade-policy-shifts-hong-kong-primarily-psychological-paul-chan https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3364173/impact-us-trade-policy-shifts-hong-kong-primarily-psychological-paul-chan Sun, 16 Aug 2026 05:49:54 +0000 Daisy Wu Daisy Wu Hong Kong is set to welcome its first Shanghai free-trade zone offshore bond, using the landmark listing to defend its status as the world’s pre-eminent offshore yuan hub, amid mounting competition from its mainland rival. Hong Kong Exchanges and Clearing (HKEX) announced on Thursday that Shanghai Electric Global Capital – a financing arm of power and industrial equipment manufacturer Shanghai Electric – would list a 1.5 billion yuan (US$222.4 million) green free-trade zone bond on August... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3363995/hong-kong-list-first-shanghai-free-trade-zone-bond-defend-yuan-hub-status https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3363995/hong-kong-list-first-shanghai-free-trade-zone-bond-defend-yuan-hub-status Fri, 14 Aug 2026 04:52:38 +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. In late June, the Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) confirmed that Hong Kong’s laws are ready for tokenised bonds. What sounds like a legal technicality is a springboard for the financial markets of the future. Bonds, a... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/letters/article/3363839/hong-kong-mustnt-fall-behind-recognising-overseas-stablecoins https://www-scmp-com.libproxy1.nus.edu.sg/opinion/letters/article/3363839/hong-kong-mustnt-fall-behind-recognising-overseas-stablecoins Fri, 14 Aug 2026 03:30:05 +0000 Themis Qi Themis Qi A Standard Chartered-led joint venture kicked off institutional use of Hong Kong dollar-backed stablecoins on Wednesday, a year after the city put its stablecoin law into effect as part of an effort to become a global hub for digital assets. Retail use of the regulated cryptocurrency was expected “as early as end-2026”, subject to market conditions, said Anchorpoint Financial, a Hong Kong-licensed stablecoin issuer, in a statement on Wednesday. A joint venture formed by Standard Chartered,... https://www-scmp-com.libproxy1.nus.edu.sg/business/cryptocurrency/article/3363800/hong-kong-stablecoin-selection-expands-standard-chartered-led-ventures-launch https://www-scmp-com.libproxy1.nus.edu.sg/business/cryptocurrency/article/3363800/hong-kong-stablecoin-selection-expands-standard-chartered-led-ventures-launch Wed, 12 Aug 2026 11:06:58 +0000 Enoch Yiu Enoch Yiu As international investors diversify away from US dollar assets and amid the rise of internationalisation of the yuan, there are calls for reviewing the Hong Kong dollar’s peg. Here is what to know about the system. Why is the Hong Kong dollar pegged to the US dollar? The birth of the peg is closely tied to market uncertainties. The currency was once freely traded and in September 1983 slumped by 48 per cent to a record low of HK$9.60 per dollar when a crisis of confidence occurred as the... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3363306/hong-kongs-us-dollar-peg-explained-history-benefits-and-risks https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3363306/hong-kongs-us-dollar-peg-explained-history-benefits-and-risks Sat, 08 Aug 2026 02:00:12 +0000 Daisy Wu Daisy Wu The Hong Kong dollar’s four-decade-old peg to the US dollar is facing fresh calls for review, after a local financial industry body urged greater use of the yuan and floated the idea of shifting to a basket of major currencies and gold – though financial analysts argue the current system is likely to remain in place. The proposal to revisit the pegged exchange rate system was submitted this week by the Hong Kong Securities and Futures Professionals Association (HKSFPA), as the government gathers... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3363286/hong-kongs-us-dollar-peg-faces-fresh-calls-review-change-feasible https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3363286/hong-kongs-us-dollar-peg-faces-fresh-calls-review-change-feasible Fri, 07 Aug 2026 08:14:51 +0000 SCMP Editorial SCMP Editorial Bankers around the world have been nervously watching a countdown to Q-Day, the hypothetical moment when quantum computers become powerful enough to decipher even the most secure encryption. However, few are prepared to face this hi-tech threat. It is good that Hong Kong’s banking sector has received a fresh wake-up call about cybersecurity risks related to the technology. On Monday, the city’s de facto central bank sounded the alarm as it unveiled a new benchmark to track industry... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3362338/hong-kong-banks-can-no-longer-ignore-quantum-threat https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3362338/hong-kong-banks-can-no-longer-ignore-quantum-threat Thu, 30 Jul 2026 23:15:14 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma Zhongji Innolight fell on its trading debut after Hong Kong’s biggest initial public offering in seven years amid souring appetite worldwide for artificial intelligence (AI) shares. The stock closed down 2 per cent after earlier plunging as much as 10 per cent. Shenzhen-listed shares of Innolight, which supplies AI data-centre operators such as Amazon and Alphabet, tumbled 9.2 per cent, extending declines from a June peak to 38 per cent. Prior to the sell-off, the stock had surged almost 10-fold... https://www-scmp-com.libproxy1.nus.edu.sg/plus/business/companies/article/3362388/ai-stock-rout-fells-innolight-after-mega-hong-kong-ipo https://www-scmp-com.libproxy1.nus.edu.sg/plus/business/companies/article/3362388/ai-stock-rout-fells-innolight-after-mega-hong-kong-ipo Thu, 30 Jul 2026 09:06:47 +0000 Enoch Yiu Enoch Yiu The Hong Kong Monetary Authority (HKMA) has maintained its base rate following the US Federal Reserve’s decision to keep its key rate unchanged, but US traders are already betting on a rate rise in September. The city’s base rate was kept at 4 per cent by the HKMA on Thursday. Hours earlier, the US Federal Reserve also retained its target rate in the range of 3.5 to 3.75 per cent, concluding its fifth Federal Open Market Committee (FOMC) meeting this year. “US interest-rate adjustments will... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3362318/hkma-maintains-base-rate-4-us-fed-keeps-rate-unchanged https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3362318/hkma-maintains-base-rate-4-us-fed-keeps-rate-unchanged Wed, 29 Jul 2026 23:09:43 +0000 Peggy Ye Peggy Ye Hong Kong’s de facto central bank has linked its securities settlement platform with Switzerland’s SIX stock exchange, giving its members direct access to securities in the Swiss and Spanish markets. The Hong Kong Monetary Authority (HKMA) announced the new connection between SIX and its Central Moneymarkets Unit (CMU) platform on Wednesday, while also launching equity post-trade services on the platform for the first time. The changes are set to boost the CMU’s global reach, as well as expand... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3362286/hong-kong-expands-cmus-global-reach-swiss-spanish-securities-link https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3362286/hong-kong-expands-cmus-global-reach-swiss-spanish-securities-link Wed, 29 Jul 2026 11:46:01 +0000