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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.
China has been promoting its own cross-border payment system as it seeks to hedge against potential weaponisation of the US financial system. Photo: AFP
Yuan

How China opened the door to creating a direct rival to US payment systems

Beijing has removed several key restrictions on its payment system, allowing it to expand beyond yuan settlements, economist says.

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Wealth management

Middle East banks eye Hong Kong as ‘safe haven’ amid Iran threats: InvestHK head

Hong Kong Monetary Authority (HKMA)

HKMA warns of interest rate uncertainty amid Middle East conflict

Iran

Iran conflict drives fund managers to slash risk and hoard cash: BofA survey

Fund managers pile into cash at fastest pace since Covid-19 as geopolitical tensions, inflation replace AI as top concerns, bank finds.

Investor sentiment fell to a six-month low in March, according to a BofA report. Photo: AFP
HSBC

HSBC launches US$2.5 billion AT1 bond issue in Hong Kong after market standstill

Lender’s AT1 bond sale is the first since Iran conflict froze the market, with Hong Kong’s stability making it the natural venue: analyst.

Wealth management

Chinese banks outpace rivals in Hong Kong wealth growth, Huatai HK CEO says

Booming listings and rising outbound investment demand are accelerating growth for Chinese players, SFC data shows.

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IPO

China’s tightened IPO rules for some ‘red chips’ in Hong Kong raise concerns

The CSRC asks some Hong Kong listing candidates to change their red-chip structure and issue H shares.

The CSRC is tightening listing rules for some firms seeking listings in Hong Kong. Photo: Jelly Tse
Hong Kong stock market

First HKIC bet SmartMore seeks Hong Kong IPO amid booming tech pipeline

Unicorn’s AI platforms power firms from Tesla to Apple suppliers, highlighting the government fund’s role in the city’s tech investment push.

United States

Trump administration urges judge to revisit ruling blocking Powell subpoenas

A federal judge had ruled on Friday that a DOJ investigation into Powell was intended to pressure the Fed chairman to lower interest ‌rates.

Biomedicine: Companies

Hong Kong attracts wave of biotech IPO filings amid AI drug research boom

More than 10 pre-profit drug developers are seeking Hong Kong listings as AI-powered biotech platforms draw growing investor interest.

The latest applications come as healthcare and biotechnology equity capital market activity in Hong Kong reached US$15.6 billion last year. Illustration: Shutterstock
US, Israel war on Iran

Macroscope | Trump hasn’t counted on financial blowback from his war with Iran

As Washington fights a war with global economic ramifications, allies may soon begin to reassess their financial support of US coffers.

Iranians work as smoke rises from an oil refinery struck in Tehran, on March 8, amid joint Israeli-US attacks. Photo: EPA
Hong Kong economy

Opinion | Hong Kong can play vital part in boosting crucial China-India relations

India is a vibrant, emerging and complex power with much to offer the city and China as a whole.

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Hong Kong economy

Editorial | Zero tolerance for insider trading central to Hong Kong’s financial future

Crackdown on wrongdoers a welcome sign of regulatory vigilance that is vital to the city’s role as an international finance hub.

Biomedicine: Companies

In a first for China, Neuracle’s brain-computer interface wins approval

China’s BCI start-ups, seen as potential rivals to Elon Musk’s Neuralink, gain momentum as regulatory support and new capital fuel growth.

A man demonstrates a robotic hand with a brain-computer interface at the China International Import Expo on November 7, 2025. Neuracle’s regulatory milestone underscores China’s accelerating push in neurotechnology. Photo: AFP
Hong Kong stock market

Hong Kong sends ‘very strong message’ with insider-trading arrests

Joint operation by ICAC and SFC shows commitment to protecting city’s status as a fundraising hub, analysts say.

The logo of the Securities and Futures Commission (SFC) at the office in Quarry Bay. Photo: Yik Yeung-man
Hong Kong

Hong Kong’s Wealth for Good Summit to highlight AI, robotics opportunities

Fourth edition of summit comes as Hong Kong pursues goal of attracting 220 additional family offices by 2028.

Insurance

Hong Kong export credit insurer keeps premiums low despite Middle East tensions

Agency says limited exposure to the Middle East has kept trade risks contained for most Hong Kong exporters.

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China property

Chinese developer Sunshine 100 to oppose winding-up petition in Hong Kong

HTI Financial Solutions and Haitong International Financial Products filed the petition over a debt due in March last year, firm says.

Sunshine 100 China Holdings has defaulted on multiple redemptions since 2021. Photo: Handout
Fintech

Exclusive | HSBC, Standard Chartered tipped to win Hong Kong stablecoin licences in 2 weeks

The approvals would mark a milestone in Hong Kong’s push to regulate stablecoins while positioning itself as a global digital asset centre.

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Artificial intelligence

China’s financial institutions draw line on OpenClaw as AI frenzy spreads

The automated agent requires unusually high levels of access to user devices, raising security concerns.

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SFC

Hong Kong corruption watchdog arrests 8 in US$40m insider dealing probe

Six men and two women, including a Guotai Junan executive, are in custody for allegedly giving information related to share placements.

A view of Guotai Junan International’s office in Sheung Wan on March 12, 2026. Photo: Karma Lo
Hong Kong economy

Editorial | Raising MPF contribution levels tricky but necessary step for Hong Kong

Increasing the amount workers and employers contribute is likely warranted, but there is room for dialogue on how large the increase should be.

People crossing the street in Central. The Mandatory Provident Fund Authority has proposed raising contributions into the city’s pension fund for the first time in 13 years. Photo: Edmond So
Germany

Deutsche Bank bets on Hong Kong boom as Asian billionaires look beyond US assets

Hong Kong is becoming a focal point for Asian billionaires seeking to pivot away from US exposure, Deutsche Bank’s private bank says.

Wealth management

Hong Kong family offices take long view despite Iran war, HKMA affiliate says

Survey shows family offices expanding risk management while maintaining strong investment exposure to Hong Kong and Asia.

Insurance

Hong Kong marine insurers gain edge over London with cheaper war-risk cover

Hong Kong’s special pool offers cheaper war cover for 10 Chinese ships in the Gulf, bolstering the city’s role as a marine insurance hub.

A special pool, backed by five Hong Kong insurers, offers 10 mainland China ships up to US$130 million in compensation against war and emergency risks. Photo: Elson Li
HSBC

HSBC, Hang Seng Bank end remote-work flexibility for Hong Kong frontline staff

The two banks tighten work rules in the city, requiring traders and salespeople to return to the office from April 1.

Inside the HSBC headquarters in Central, Hong Kong. Photo: Felix Wong
Hong Kong economy

Opinion | Why China’s economic reset is a credibility test for Hong Kong

As China rewrites the growth playbook, Hong Kong must show it can anchor the offshore financing and price discovery this reset requires.

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Hong Kong economy

Exclusive | Hong Kong tipped to be world’s top financial hub amid global yuan expansion plan

National People’s Congress deputy Li Yinquan says Hong Kong to gain substantially from Beijing’s push to internationalise yuan’s reach.

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