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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.
A guard stands at attention outside the Great Hall of the People in Beijing. China has enacted a sweeping overseas investment law. Photo: TNS
China exports

Beijing asserts control over China’s offshore tech transfers with landmark law

Beijing’s ‘milestone’ mandate seen authorising retaliatory responses to trade barriers while restricting research leaks.

Hong Kong politics

Opinion | Hong Kong’s 5-year plan will hinge on how it measures success

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Binance

UK investors sue Binance and founder Zhao Changpeng for US$200 million

Bonds

Looking East: Europe’s banks look to Hong Kong amid global uncertainty

European banks, facing rising costs and energy instability, are turning to Hong Kong for funding, with Hungary’s OTP Bank leading the shift.

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Hungary’s biggest lender, OTP Bank, has given a vote of confidence to Hong Kong as European banks seek alternative options amid geopolitical tension, rising financing costs and increasingly unstable global energy supplies. Photo: Handout
IPO

Hong Kong loses IPO crown as swelling wave of Chinese tech no match for SpaceX

With Chinese technology giants fuelling an ‘A-to-H’ listing boom, Hong Kong appears to be on the rise as their ‘fundraising venue of choice’.

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Shanghai

Shanghai needed as finance hub, as Hong Kong ‘not enough’: proposal

Mainland hub is needed to ‘fully meet the special needs’ of Chinese firms expanding abroad, institute leader says in closed-door meeting.

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United States

US Supreme Court boosts Trump’s power to fire officials, but Fed’s Cook keeps job

Justices let Trump fire agency heads, a dramatic expansion of his presidential power.

A person wears a MAGA (Make America Great Again) visor outside the U.S. Supreme Court, on the day justices have issued orders, in Washington, D.C., U.S., June 29, 2026. REUTERS/Cheney Orr TPX IMAGES OF THE DAY
IPO

Chinese self-driving firm Momenta eyes US$750m in Hong Kong IPO

Second ‘red-chip’ approved by Beijing for a Hong Kong listing this year aims to invest proceeds in research and development, robotaxi push.

Wealth Report

The government’s 2026-27 Budget pushes HKEX expansion in cross-border trading

Financial Secretary Paul Chan Mo-po’s measures include the Hong Kong Monetary Authority and CMU OmniClear studying updates to financial infrastructure across various asset classes.

Mainland China

Charm offensive: Bahrain expands Hong Kong push to court mainland China capital

Gulf state leans on tax perks and tokenisation rules to position Hong Kong as its gateway to mainland China investors.

Bahrain is hoping to attract foreign investors with financial deregulation. Photo: AP
Wealth Report

HKEX looks beyond IPOs to build a broader investment ecosystem

HKEX is expanding its product suite with new fixed-income, derivatives and connectivity offerings, giving global investors more ways to gain exposure to China’s markets.

The 55km Hong Kong-Zhuhai-Macau Bridge is an example of the Greater Bay Area’s substantial infrastructure assets that could appear on the menu of options for foreign capital in the future. Photo: Xinhua
Wealth Report

Hong Kong’s IPO market is being powered by industrial heavyweights

With over 80 industrial firms in the IPO pipeline, it’s clear that policy priorities and relaxed listing rules are attracting a fresh wave of global capital.

Mainland China

Could a ‘Reit Connect’ be Hong Kong’s handover anniversary gift from Beijing?

Previous July 1 anniversaries have delivered financial policy changes, and markets anticipate expanded cross-border access this year.

Central banks

Sovereign investors with US$29 trillion pivot to energy assets, flag dollar fears

61% of central banks polled by finance firm Invesco said US debt levels negatively impact the dollar’s long-term position as a reserve asset.

Analysts say US policy uncertainty and high debt ‌mean the dollar could weaken over the long term. Photo: Shutterstock Images
Financial regulation

How AI boom exposes investors to risk, while a downturn could see a fast crash

Bank for International Settlements says AI funding is funnelled through loosely regulated private credit channels, raising stability fears.

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Investors are funding AI through hedge funds and private credit vehicles which may expose them to financial risk in the event of a downturn which could see a fast, sharp crash, according to the Bank for International Settlements. Photo: Reuters
Yuan

As Beijing raises Shanghai’s offshore yuan profile, where will Hong Kong fit in?

Geopolitical tensions add fuel to long-standing debate about China’s need for multiple offshore yuan centres – a role that suits Shanghai well.

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Bonds

Macroscope | Can Andy Burnham fix Britain’s essential services and debt problem?

The favourite to become Britain’s next prime minister is the latest figure promoting greater state control of important national assets.

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HKEX

Hong Kong vows stronger exchange with reforms, bond futures and gold push

Listing changes and new product launches are set to bolster Hong Kong’s role as a global financial hub, deputy finance chief says.

HKEX chairman Carlson Tong and Deputy Financial Secretary Michael Wong strike the gong to mark the bourse operator’s 26th anniversary. Photo: May Tse
Indonesia

Indonesia set to issue US$1 billion in panda bonds in China

The Southeast Asian country will offer the bonds in an attempt to better stabilise its national finances as the rupiah continues to fall.

Hong Kong

Hong Kong FDI inflows up 36% so far this year: InvestHK data

A total of 413 companies set up or expanded their businesses in the city in the first six months.

Wealth Report

Tech pioneers flocking to Hong Kong thanks to revamped listing rules

An AI-driven surge of Chapter 18C listings has pushed HKEX past New York in IPO fundraising, but how has the listing route impacted economic growth?

Lingyi iTech robots perform a thousand-hand Guanyin dance at the opening of Honor’s Alpha Global Flagship Store last September in Shenzhen. The store is a sign of AI’s growing ubiquity, something also demonstrated by the sector’s increasing importance to the HKEX. Photo: VCG via Getty Images
IPO

Hong Kong’s IPO Connect push: why investors see it as the next frontier

Calls grow to further expand Hong Kong’s connect scheme with mainland China markets amid drive for deeper capital flows.

Calls for an IPO Connect have resurfaced at a delicate time for Hong Kong, which views finance as a pillar industry to demonstrate resilience in a geopolitically complex world. Photo: Sam Tsang
Hong Kong stock market

HKEX pushes deeper into index business as AI reshapes Hong Kong market

The bourse wants proprietary indices to better capture China’s technology boom as traditional Hong Kong benchmarks trail regional peers.

Semiconductors

China’s Big Fund becomes SMIC’s third-largest shareholder after record buyout

The landmark deal consolidates the Big Fund as third largest owner of SMIC, China’s largest wafer foundry.

Mainland China

Bank of China accused of exploiting tax preferences to avoid paying US$348m

The bank channelled funds through affiliates and mass employee investors to pass off private funds as public, China’s top auditor says.

The Bank of China building in Shanghai. Photo: Getty Images
United States

Major Chinese banks suspend individual gold trading amid global volatility

Risk controls intensify as banks seek to curb leveraged trading despite expectations of resilient long-term gold demand.

Pure gold bars in Shanghai, China on March 15. Photo: CFOTO/Future Publishing via Getty Images
Mainland China

Can Shanghai’s offshore finance push test Hong Kong’s dominance?

Beijing is accelerating Shanghai’s offshore finance ambitions, raising questions over whether Hong Kong’s long-held edge can endure.

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Hong Kong stock market

Southbound Stock Connect flows surge to record US$152b amid Hong Kong IPO boom

Average daily southbound turnover soared 84 per cent year on year to HK$124.1 billion, equal to 24 per cent of city’s total market turnover.

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