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Banking & finance
News about the global financial industry with a focus on developments in Hong Kong and China.
A night view of Hong Kong Island and Kowloon from The Peak. Property prices in the city are expected to trend upwards this year. Photo: Sam Tsang
Hong Kong property

Hong Kong’s housing market gets a vote of confidence from major banks

Most financial institutions forecast price gains ranging from 5 to 10 per cent, supported by supply constraints and end-user demand.

Electric & new energy vehicles

Xpeng’s flying car unit readies Hong Kong IPO for take-off

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Hong Kong property

Financial firm Ares doubles Hong Kong office footprint as outlook improves

Donald Trump

Trump-Powell conflict over Fed escalates with threat of criminal indictment

Jerome Powell calls legal threats against him pretexts to pressure the US Fed over policy.

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US President Donald Trump and Federal Reserve Chair Jerome Powell during a tour of the Federal Reserve Board building in Washington DC last year. Photo: Reuters
HSBC

Which stocks will Hang Seng shareholders buy with their US$14 billion windfall?

Investors could favour high-dividend stocks like HSBC and Bank of China as they seek stable returns and growth potential, analysts say.

China stock market

Opinion | Hong Kong’s fertile ground for AI IPOs aligns with China’s tech strategy

If Hong Kong remains a stable offshore bridge linking global capital with priority technologies, it will bolster China’s innovation funding.

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Stocks

Macroscope | Why Asian family businesses are pivoting to private equity

Family firms, the backbone of the Asian economy, have tended to be reluctant to go public but are increasingly open to private equity funding.

A man walks past an electronic board displaying the Nikkei 225 stock prices on the Tokyo Stock Exchange in Tokyo on January 5. Photo: AFP
Hong Kong economy

Hong Kong’s finance chief confirms early surplus, vows more elderly support

Paul Chan cites financial market performance and stock trading stamp duty for surplus, as he addresses calls for more welfare at public forum.

Chinese offshore investment

How China’s global investment model is changing – and what it means for the yuan

The trade war, weak domestic demand and stronger policy support push more firms to invest overseas, with growing implications for currency.

Hong Kong Monetary Authority (HKMA)

Letters | 5 years on, digital banks are taking root in Hong Kong

Readers discuss perceptions of virtual banks, vetting of English teachers, and the outlook for Hong Kong.

People use ATMs in Central in 2024. A 2025 survey found a majority of respondents reporting that digital banks could meet at least half of their daily banking needs. Photo: Eugene Lee
HSBC

What does HSBC’s buyout of Hang Seng Bank mean for its future and investors?

HSBC’s historic US$13.6 billion buyout of Hang Seng Bank aims to cut costs, tackle bad debts and fuel growth, but challenges abound.

Illustration by Henry Wong
China's economic recovery

China cautions against ‘compound errors’ from clashing policies

Party mouthpiece calls for better coordination and market guidance as 15th five-year planning period begins, warning conflicting rules unsettle investors.

Yuan

Yuan to strengthen to 6.85 per US dollar in first quarter 2026: Morgan Stanley

Strong export growth and US dollar weakness are expected to bolster the currency, the bank says.

China inflation

China prices pick up, Venezuela raid fallout, Carney visit

This week: China inflation hits highest since February 2023, US abduction of Venezuela’s Maduro spurs criticism, Meta-Manus deal draws scrutiny. Next week: Canada’s Carney visits China, December trade figures come out, Jimmy Lai returns to court in Hong Kong and more.

Photo: EPA
Hong Kong

Chinese financial firms press on with debt issuance to fund overseas expansion

Guangzhou-based GF Securities announces plan to raise US$780 million after mainland Chinese finance firms raise over US$10 billion in 2025.

Chinese financial firms raised over US$10 billion last year to fund their overseas expansion. Photo: AFP
IPO

TCM firms eye Hong Kong IPOs to fuel global expansion

Over the past year, 34 innovation and technology, life and health science companies set up or expanded their operations in Hong Kong.

US-Venezuela conflict

‘Odious debt’: why China is at risk of painful losses in post-Maduro Venezuela

China has lent Venezuela tens of billions of dollars in recent decades. But Caracas could simply declare those obligations void, analysts say.

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Cambodia

Cambodia dissolves accused scam tycoon Chen Zhi’s Prince Bank

The central bank said the lender has been ‘suspended from providing new banking services, including accepting deposits and providing credit’.

A Prince Bank branch in Phnom Penh, Cambodia. Photo: AFP
HSBC

Hang Seng Bank shareholders approve HSBC’s US$14 billion buyout plan

HSBC receives strong backing from Hang Seng Bank’s independent shareholders, getting 85.75 per cent of the votes.

China property

China Vanke offshore creditors face near wipeout in Barclays worst-case scenario

British bank warns recoveries could fall below 1 per cent as restructuring priorities and access to assets remain uncertain.

China's economic recovery

China signals flexible use of monetary tools in 2026 to support 5-year plan

Boosting domestic demand, addressing debt risks and promoting yuan’s international use also priorities for coming year.

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The People’s Bank of China has announced a series of goals for 2026, from promoting cross-border yuan use to increasing domestic consumption and managing debt risks. Photo: Shutterstock
CITIC Group

Citic Securities claims top spot in Asia-Pacific investment banking for 2025

Chinese rivals fill out the rest of the top five, while US bank Morgan Stanley comes in sixth.

Citic claimed the crown as the top bookrunner for Asia-Pacific-issued bonds with 6 per cent market share. Photo: Shutterstock Images
Family offices

Exclusive | Hong Kong favoured as wealth planning platform, bank CEO says

City’s stock market and incentives will continue to attract family offices from around Asia-Pacific, Bank of Singapore’s Hong Kong CEO says.

IPO

MiniMax’s Hong Kong IPO set to hit US$538 million amid Chinese AI sector frenzy

The Alibaba-backed firm is set to price its 25.4 million shares at HK$165 each, the top end of its marketed range, sources say.

Mainland China

US dollar, gold rise after Maduro abduction as investors seek safe havens

Yuan also remains relatively resilient as analysts predict the Chinese currency could strengthen to as high as 6.8 against the US dollar in 2026.

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Venezuelan leader Nicolas Maduro is escorted from a US federal aircraft in New York on January 3, after being captured during a US military operation. Photo: Reuters
IPO

The ‘biology winter’ thaws: why investors are buying Hong Kong’s biotech IPOs

A wave of China out-licensing deals is feeding a biotech comeback in Hong Kong, where IPOs and follow-on placements are surging.

Healthcare firms now account for about a fifth of the more than 300 listing applications in the city. Photo: Shutterstock
Hong Kong politics

Opinion | Starry Lee or Ronick Chan? Lawmakers’ choice will reveal their priorities

How legislators vote will show how they see their roles and whether they prioritise national and city interests above personal political gain.

Hong Kong Monetary Authority (HKMA)

Exclusive | HKMA teams up with SFC, Insurance Authority to promote fintech over next 5 years

The HKMA is expanding the city’s generative AI sandbox to include other industries, chief executive Eddie Yue Wai-man says.

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