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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.
While stablecoins have become a buzzword in Beijing’s academic discussions, central bank authorities have maintained China’s crackdown on virtual currencies while remaining focused on developing a central bank digital currency. Photo: Getty Images
Stablecoins

Stablecoin scams put China’s financial regulators in a high-stakes balancing act

After millions were defrauded by a stablecoin-linked investment ploy, local-level governments started sending out warnings.

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China's economic recovery

China’s monetary policy impact not yet seen, PBOC says with 5% GDP goal in mind

IPO

Singapore IPO revival hopes rise as NTT’s Reit debut gains

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Mainland China

Global sovereign wealth funds increasing allocations to Chinese assets: Invesco

Nearly 60 per cent of sovereign wealth funds say they plan to increase their investments in China over the next five years.

People pass stock screens in Shanghai. Photo: EPA-EFE
Hong Kong property

Why can’t Hong Kong retail landlords cut rents for struggling tenants?

Slashing rents impacts assessments, so landlords must strike a balance between cash flow and long-term asset value, Knight Frank says.

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Cryptocurrency

Video | Hong Kong charts new phase as digital asset hub with policy blueprint, says FSTB chief Chris Hui

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Cryptocurrency

Exclusive | Hong Kong embraces digital assets to solve economic problems: Chris Hui

Hong Kong’s push for stablecoins and tokenised assets aims to solve global economic challenges, positioning the city as a leading fintech hub.

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Secretary for Financial Services and the Treasury Christopher Hui Ching-yu, during an interview with the Post on July 9, 2025. Photo: Jonathan Wong
AIIB

Outside In | Having funded Asian infrastructure for a decade, what next for the AIIB?

Having survived Obama’s opposition, the development bank established by China will soon have a new president in a tricky Trumpian environment.

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Blockchain

Bitcoin hits another record as options traders eye US$120,000

Bitcoin’s breakout is fuelled in part by institutional demand and bullish comments made by Trump on social media.

American Samoa

US tech stocks remain top draw despite de-dollarisation trend, Swiss banks say

Swiss banks advise investors to keep US tech stocks as core holdings due to their innovation and strong earnings.

UBS and Julius Baer expect US equities to remain strong, supported by powerful structural drivers. Photo: Reuters
China property

Opinion | Why China can’t make a clean break from reliance on land and property

There is no lack of reform ambition but there will be no clean break: the old system persists because no fully functional alternative exists.

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Illustration: Craig Stephens
Start-ups

Hong Kong start-up wins EQT Impact Challenge with precision surgical system

Syngular Technology tops 200 hopefuls to secure €100,000 (US$117,000) investment in pitch competition organised in partnership with the Post.

Bonds

Foreign ownership of Chinese bonds could triple with Bond Connect tweaks: Asifma

Foreigners held US$606 billion worth of Chinese bonds in May, or about 3 per cent of the local-currency debt market.

Singapore

‘Low-key crazy’: Singaporean students vie for campus finance club places

Facing intense competition for banking jobs, students hope membership in these clubs will help differentiate them to potential employers.

Office workers in Singapore’s Central Business District. Photo: EPA-EFE
Yuan

Why the yuan can be safe-haven currency: former bank official flags ‘advantages’

Authors, including the PBOC’s former statistics head, call for ‘a new vision where multiple currencies jointly support global financial stability’.

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China’s yuan has shown resilience in the face of US tariffs. Photo: dpa
Blockchain

Bitcoin hits record US$112,000 amid Wall Street rally, crypto surge

Traders should stay vigilant for potential profit-taking or macroeconomic shifts that could spark corrections, one analyst says.

Hong Kong transport

Letters | Driverless bus incident points to Hong Kong’s need for AI governance

Readers discuss the city’s AI governance shortfall, ESG implementation hurdles, and how to save small shops.

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IPO

China’s CXMT eyes IPO amid global memory-chip market upswing

CXMT completes formal filing of pre-listing guidance with the China Securities Regulatory Commission.

CXMT, the parent of Chinese memory-chip maker ChangXin Memory Technologies, was founded in 2016. Photo: Handout
Hong Kong property

Commercial property crisis looms in Hong Kong amid sliding values

Capital value of commercial property set to fall by up to 10 per cent this year, with office and shop rents also slipping, JLL says.

Hong Kong property

Stamp-duty change sparks sales surge in lower-priced Hong Kong homes

Sales of homes priced between HK$3 million (US$382,000) and HK$4 million jump 73 per cent year on year after change, government says.

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China digital currency

Opinion | Amid dollar disappointment, China opens new front with e-CNY push

Subtle shift under way as fintech merges with geopolitics: e-CNY is a way to evade US sanctions and dollar volatility but also carries risks.

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A digital yuan sign at the China International Fair for Trade in Services (CIFTIS) in Beijng, China, on September 5, 2021. Photo: Xinhua
Singapore

Opening a bank account in Singapore is about to get faster – if you’re rich

A minister said most family offices will be able to get tax incentives within three months as Singapore boosts its wealth hub status.

Singapore’s skyline. A minister said the city state will reduce the time taken for rich clients to open bank accounts. Photo: Reuters
Hong Kong property

Hong Kong developer New World eyes sale of China assets after refinancing deal

New World plans to sell property assets in China, including landmarks like its K11 buildings in Hangzhou, Shenzhen and Shanghai, sources say.

Starbucks

Starbucks draws interest for controlling stake in China unit

Company is sifting through proposals and shortlisting a group of potential investors for a next round of bidding, sources say.

IPO

Apple supplier Lens, 4 other stocks gain in busiest day for new listings in 2025

The shares of all five companies that made their trading debuts advanced from their IPO prices.

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Hong Kong’s stock exchange marked its busiest day yet of 2025, when five companies made their trading debuts on July 9, 2025. Photo: Aileen Chuang
Wealth Report

Chinese AIs fuel interest in Hong Kong IPOs

15 IPOs were announced in the city in the first quarter of 2025, according to KPMG, 6 of which raised more than HK$1 billion – many of these were tech companies.

Chinese AIs like DeepSeek have caused many around the world to revise their opinion of the country’s progress in the field – and have spurred interest in tech-oriented IPOs in Hong Kong. Photo: Shutterstock
Asean

Opinion | Through Brics, Indonesia offers its vision of inclusivity to the world

Indonesia’s bridge-building approach shows power lies not only in weapons or markets, but also in fostering understanding and collaboration.

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Artificial intelligence

Hong Kong’s financial centre status gives it an edge in AI market, experts say

SenseTime chief financial officer Wang Zheng says ‘having easy access to capital is extremely important’ for AI companies.

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