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Banking & finance

Banking & finance
News about the global financial industry with a focus on developments in Hong Kong and China.
A view of Hong Kong’s dense urban skyline, captured from The Peak. Photo: Dickson Lee
Greater Bay Area

Can China unlock the Greater Bay Area’s tech potential through finance?

New guidelines aim to ease cross-border financial barriers and strengthen links between investors, tech firms and research institutions across region.

Artificial intelligence

Commercial lenders facing heavier AI burden than central banks: ICBC president

Hong Kong Monetary Authority (HKMA)

HKMA to swap jobs of 2 deputy heads as part of succession planning: sources

Indonesia

As Indonesia faces MSCI downgrade threat, officials vow reforms to ease fears

Officials met MSCI on their planned reforms of Indonesia’s stock market after the global index provider’s announcement triggered a selloff.

A woman stands in front of a board displaying stock prices at the Indonesia Stock Exchange building in Jakarta on Friday. Photo: EPA
An electronic board displaying stock movement at the Indonesia Stock Exchange in Jakarta on Friday. Photo: Reuters
People’s Bank of China (PBOC)

China’s shoring up of capital markets leaves investors nonplussed

Measures to inject liquidity in A-share market and backstop the bond market are signs regulators see ‘big bang’ intervention as unnecessary.

Energy

Opinion | Energy shock could spark Asia’s next debt crisis

The IMF and World Bank need to step up debt surveillance as rising energy costs drain foreign exchange reserves and make debt repayments harder.

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Singapore

Singapore vs Hong Kong: who’s likely to win race for stablecoin dominance?

Singapore is boosting infrastructure while Hong Kong is betting on banks – but ultimately, practicality will decide the winner, experts say.

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Attendees pass cryptocurrency signage at the Token2049 crypto conference in Singapore on October 1, 2025. Photo: Reuters
Bonds

Hong Kong to push on dim sum bonds by appealing to more sovereign borrowers

APEC meeting a golden opportunity to highlight the city’s financial markets and attract more Asia-Pacific sovereign debt issuers: analysts.

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International Property

US-based money manager eyes Asia-Pacific property for growth

Principal Asset Management executive says appetite for commercial properties in fast-growing markets underpinned by higher interest rates.

ETFs

China plans 18 active ETFs as regulator seeks to shore up stock market

Beijing’s securities regulator also vows tougher action against misconduct and outlines four measures to create a healthy market.

Wu Qing, chairman of the China Securities Regulatory Commission, speaks at the opening of the 2026 Financial Street Forum on Monday. Photo: Getty Images
People’s Bank of China (PBOC)

PBOC plans bond liquidity backstop, pilots onshore yuan trade for foreign banks

Authorities will expand the pilot allowing securities firms to conduct foreign exchange settlement and sales to facilitate firms going global.

PBOC Governor Pan Gongsheng speaks during a press conference in Beijing, September 24, 2024. Photo: Reuters
China property

Mainland Chinese are still driving Hong Kong’s property market despite 20% tax

After a sharp drop, Hong Kong residential property transactions rebounded by 18.5% in September, with the total value rising by 29.3%.

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Bitcoin

Iran, Fed, bonds: 3 reasons bitcoin is unlikely to hit US$100,000 this year

The cryptocurrency is unlikely to climb back above US$100,000 this year as risks remain from interest rate rises to an escalation in Iran.

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Mainland China

China cuts US Treasury holdings to 18-year low in August as debt fears mount

Japan also offloaded US bonds in that month, although increases in holdings by Britain and Canada partly offset sales from the two Asian countries.

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Global concerns have mounted in recent months over the United States’ growing debt pile. Photo: Shutterstock

Video | ‘Hong Kong speed’: treasury chief on city’s gold and yuan

Christopher Hui talks to the SCMP about the city’s gold clearing system, regional competition and digital yuan adoption.

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Hong Kong economy

Exclusive | Hong Kong touts key advantages over London in bid to become global gold hub

Financial services minister Christopher Hui says government backing, integrated settlement and Shanghai ties will distinguish city’s gold trading ecosystem.

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Mainland China

Foreign banks shrink China branch networks as growth remains subdued

Foreign lenders are closing branches and shifting to wealth management as weak returns put pressure on their China operations.

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HKEX

HKEX pushes back T+1 trade settlement to 2028 to give brokers more prep time

Despite the delay, the exchange said the market response had shown strong support for shortening the settlement time.

The HKEX logo is seen in this illustration taken September 28, 2026. Photo: Reuters
Financial regulation

Financial Street Forum forecast: more opening up by China regulators

Visa’s long-awaited nod for a local card-clearing business raises hopes for more measures allowing deeper participation.

Yuan

China says joint action, not exchange rates alone, can fix global imbalances

Beijing calls for cooperation to tackle economic challenges, from protectionism and financial market volatility to risks linked to AI valuations.

IPO

Hong Kong’s IPO fraud clampdown sends shock waves across financial sector

The tougher scrutiny is forcing the capital market to recalibrate, as sponsors become more cautious and some firms cancel listings.

Hong Kong’s securities regulator has tightened scrutiny over initial public offerings in recent months. Photo: Nora Tam
John Lee policy address 2026

Sharpening the city’s edge

Hong Kong’s first five-year plan sets a goal of doubling down on the city’s core advantages under a ‘four centres, one hub’ strategy.

Sharpening the city’s edge
Hong Kong stock market

Hong Kong investors aim to beat markets – but keep return hopes in check: report

AI-fuelled optimism lifts return expectations across Asia, but Hong Kong investors are taking a more measured view, Natixis survey finds.

Wealth management

Hong Kong emerges as third best philanthropy hub, behind New York, Seoul: study

Altrata report highlights Hong Kong’s wealth infrastructure and growing culture of structured giving.

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Hong Kong

HSBC to double Hong Kong AI team to 300, outpacing Singapore plan

Bank unveils expansion plan after scrutiny of its Singapore AI hiring strategy.

The HKMA hosts an AI summit that includes highlighting use cases for the technology in Hong Kong’s finance sector. Photo: Jonathan Wong
Hong Kong stock market

Hong Kong firm, Qatar bank to launch Chinese equity fund

China’s rising AI and biotech sectors are key draws for investors seeking diversification, leaders of ChinaAMC and Lesha Bank say.

The Corniche promenade and illuminated high-rise buildings are pictured in Doha, capital of Qatar, on October 11. Photo: AFP
HSBC

HSBC launches discretionary portfolio management service for retail investors

HSBC aims to lure younger, tech-savvy customers with discretionary investment service once only available to private bank clients.

US-China relations

Bank of America fined US$1.21 billion for suspected Chinese money laundering

Second-largest US bank failed to report hundreds of millions of dollars’ worth of transactions linked to Chinese money-laundering networks.

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