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Banking & finance

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Banking & finance
News about the global financial industry with a focus on developments in Hong Kong and China.
Bull statues near screens showing the Hang Seng stock index and stock prices outside Exchange Square, in Hong Kong, February 3, 2026. Photo: Reuters
Wealth management

DBS survey shows Chinese investors eye Hong Kong, US to weather volatility

Stocks in mainland markets have underperformed this year, with the Shanghai Composite Index down 3.9 per cent year to date as of Wednesday.

Bonds

China vows to improve panda bond ratings to lure more foreign capital

Robotics

Chinese robot maker AgiBot targets a listing in Hong Kong’s booming market

Yuan

Chinese bank touts digital currency platform’s largest transfers yet

Bank of China uses mBridge for two cross-border transfers worth more than US$1.7 billion each, as CBDC platform gathers momentum.

By late June, total cumulative transactions on mBridge passed 600 billion yuan (US$88.6 billion). Photo: Shutterstock Images
Artificial intelligence

China’s Moonshot AI accelerates fundraising push ahead of planned IPO: source

Per a source, the company closes fundraising round at US$30 billion valuation, as it signals it may go public in next six months.

IPO

Hong Kong to approve tax breaks for fund managers ‘soon’ to boost economy: KPMG

The bill, expected to pass this year, will exempt private equity, venture capital and other fund managers from paying tax on performance-linked income.

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ETFs

Chinese brokerage quits South Korea ETF as Seoul stock volatility spills over

The Shenzhen-based brokerage’s retreat from Huatai-PineBridge semiconductor fund comes just weeks after stepping in as market maker.

The screen showing the Korea Composite Stock Price Index is placed at a dealing room of Hana Bank in Seoul, South Korea, on Monday. Photo: AP
China economy

Opinion | China’s stock market intervention is a confidence booster

Amid geopolitical tension and talk of an AI bubble, China needs a stable financial market to underpin economic growth.

Hong Kong stock market

Zhongji Innolight already has 30 cornerstone investors for US$8b IPO: sources

The Chinese firm is aiming to raise US$8 billion in its Hong Kong listing on July 30, making it the city’s biggest share sale in seven years.

Mainland China

‘Clear signals’: Why China could expand capital outflow channels

As China’s trade surplus grows, signs point to Beijing broadening the opening-up of its capital account amid yuan internationalisation push.

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Five 100-yuan banknotes are rolled and arranged in a neat row. Photo: SOPA Images/LightRocket via Getty Images
Biomedicine: Companies

Healthcare IPO wave: US biotech firm picks Hong Kong over Nasdaq for listing

Axiom Biosciences founder says Hong Kong investors show greater maturity than Nasdaq in handling biotech companies.

Axiom Biosciences joins a swelling roster of healthcare firms seeking IPO approval in Hong Kong. Photo: Shutterstock
Chinese offshore investment

Beijing targets offshore tax dodging, intensifying cross-border capital scrutiny

Major financial outlets blast offshore shell structures after case involving the Hong Kong entity of a mainland social media platform.

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Ant Group

Fintech firm Ant International raises US$1.2b to fuel global growth

Existing backers Ant Group and Alibaba Group Holding join the equity financing round alongside undisclosed institutional investors.

HKEX

Exclusive | HKEX eyes confidential filings, lower market cap threshold for start-ups

HKEX is moving towards closed listings to compete with other exchanges that allow for confidentiality.

The Hong Kong Exchanges and Clearing (HKEX) in Central on July 17. Photo: Karma Lo
International Property

Chinese immigrants play outsized role in Canada’s housing scene amid foreign ban

Chinese permanent residents, exempted from the ban, are estimated to have bought US$4 billion worth of homes last year in Canada.

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Ottawa bars most foreigners from purchasing homes, though students, foreign workers and permanent residents are exempt from the restriction. Photo: Shutterstock
HKEX

Hong Kong bourse weighs longer hours amid pressure from global peers: sources

Nasdaq’s 23-hour expansion and London’s round-the-clock push pile pressure on Hong Kong to rethink its shorter trading day.

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China GDP

China’s half-year growth

Second-quarter GDP grew by a slower-than-expected 4.3 per cent, weighed down by the US-Israeli war on Iran, weak domestic consumption and a prolonged property slump.

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ETFs

What MPF’s 4.8m members could gain if rules are eased for Hong Kong-listed ETFs

Relaxing rules to widen ETF access will deliver stable returns at low cost while boosting local markets, chamber says.

The MPFA is being urged to consider following the Australian pension model, which allows members to directly invest part of their pension money in assets of their choice and not just designated MPF funds. Photo: Jelly Tse
China stock market

Open Questions | Citic Capital’s Zhang Yichen on the ABCs of China’s markets: IPOs, M&As and AI

The CEO discusses China’s evolving capital markets and why multinationals are turning to local partners amid shifting geopolitical dynamics.

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China property

Opinion | Why China is untangling its banks from the property wreckage

Authorities are rewiring financial architecture to address the systemic risk, breaking the deep structural ties between property and banking.

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Hong Kong economy

Opinion | Hong Kong’s 5-year plan must focus on what the city does best

Integration, connectivity and contribution to the national economy are the city’s tried and tested ingredients of success.

The Star Ferry sails past the Central district skyline in Victoria Harbour, on July 1. Photo: AFP
China economy

China speeds up new overseas quotas to expand global reach of domestic investors

Move to expand QDII quotas signals a deeper opening of China’s markets and growing appetite for global assets.

A large screen shows stock exchange and economy data in Shanghai. Photo: EPA
Commodities

China’s resources deals turn gold mines into – gold mines

Chinese gold producers, after a buying spree for mines abroad, are cashing in as the metal’s price goes sky-high.

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Fintech

China-UAE retail QR payment link to boost the yuan’s global push

Beijing linking its retail payment networks with Dubai is another step toward yuan internationalisation and reducing US dollar reliance.

Semiconductors

Chinese memory giant CXMT oversubscribed 212 times in mega Shanghai IPO

Nearly 10 million investor accounts apply for a rare listed proxy on Beijing’s semiconductor self-reliance drive.

A view of the headquarters of ChangXin Memory Technologies in Hefei, in eastern China’s Anhui province, on July 16. Photo: AFP
Hong Kong stock market

Hong Kong tech resilience tested as South Korea’s Kospi slides into bear market

Foreign investors have pulled US$110 billion from Seoul this year, rotating into undervalued Chinese giants as momentum seen slowing for expensive tech stocks.

A woman is seen near an electronic signboard in the dealing room of Hana Bank in Seoul on Thursday. The Korea Composite Stock Price Index (Kospi) recently slid into a technical bear market. Photo: EPA
Wealth management

How AI and chip boom is propelling Hong Kong’s ETP market to new heights

Hong Kong is already the world’s fourth-largest market for exchange-traded products, and the rapid growth in trading is set to continue, director says.

China stock market

Open Questions | Citic Capital CEO on making China a financial powerhouse

Ex-Wall Streeter Zhang Yichen on attracting capital to China, building up its bond market and helping foreign firms better serve Chinese consumers.

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