TOPIC

Banking & finance

Related Topics:
Hong Kong Monetary Authority (HKMA)
Banking & finance
News about the global financial industry with a focus on developments in Hong Kong and China.
Bonnie Chan Yiting, CEO of Hong Kong Exchanges and Clearing, speaks during a panel discussion at the HSBC Global Investment Summit on March 25, 2025, in Hong Kong. Photo: Handout
HKEX

Hong Kong set to fund Chinese start-ups’ ‘jaw-dropping’ innovations

China is at the beginning of a long innovation story, according to speakers at the HSBC Global Investment Summit.

Family offices

Hong Kong deepens push into AI, tech to boost its edge over Singapore: Paul Chan

Asia Tech

Alibaba’s Tsai says some AI bets like excess data centres are speculative

videocam
Electric & new energy vehicles

Chinese EV maker Xiaomi raises US$5.5 billion to accelerate expansion

The Beijing-based firm sold 800 million new shares at HK$53.25 each, a 6.6 per cent discount to the closing price on Monday.

videocam
A Xiaomi SU7 Ultra electric car is displayed at the Mobile World Congress in Barcelona, Spain, on March 3. Photo: Xinhua
Vietnam

Vietnamese tycoon facing death sentence scrambles to repay fraud billions

Truong My Lan’s lawyer said she was securing funds to appeal her life sentence, on top of the US$11 billion she needs to avoid execution.

videocam
Wealth management

Exclusive | Hong Kong must capitalise on DeepSeek to lure global, Chinese funds: HSBC

Hong Kong’s stock market has a lot of room to expand as many companies are planning IPOs, HSBC’s Asia and Middle East co-CEO David Liao says.

videocam
Advertisement
Advertisement
Advertisement
Mergers & Acquisitions

China to attract more private equity from Middle East and US: Bain & Co

Asia-Pacific deal value rose 11 per cent to US$176 billion in 2024, according to Bain & Company.

Workers walk past a mural depicting China’s history at the Zhongguancun No 1, an incubation platform for tech companies, in Beijing on March 19, 2025. Photo: AFP
Yuan

‘Slow decline’: why the US dollar is destined to lose its dominant status

The world is already moving towards a multicurrency system as financial technologies evolve and China pushes the yuan, economists say.

videocam
28
Private credit

Exclusive | Chelsea owner Todd Boehly eyes Hong Kong and Macau for new ventures

The American tycoon spots potential for fintech, sports and entertainment expansion in Hong Kong and Macau.

Standard Chartered Bank

StanChart eyes 5 wealth hubs in Hong Kong to appeal to ‘new money’

The next wealth management centre will open in Central later this year, while the bank scouts for new locations in the city.

videocam
Standard Chartered’s Priority Private Centre at K11 Atelier Victoria Dockside in Tsim Sha Tsui, Kowloon. Photo: Handout
Britain

UK cuts welfare and civil service spending, boosts defence

Finance minister Rachel Reeves sought investor trust by pledging to balance day-to-day spending with tax revenue by the end of the decade.

Britain’s Chancellor of the Exchequer Rachel Reeves. Photo: Reuters
China economy

HSBC to back Chinese firms in their growth plans amid global headwinds, CEO says

With continued investment, China is poised to lead the future of technology-driven, resilient, and sustainable supply chains, Elhedery says.

Women and gender

Top Hong Kong women CEOs talk about the school that fuelled their success

HKEX’s Bonnie Chan, SFC’s Julia Leung and Hang Seng Bank’s Diana Cesar talk about the school that shaped their worldwiew and beliefs.

videocam
Mergers & Acquisitions

Li may swing BlackRock deal with just 15% of minority owners’ votes

Minority shareholders are also expected to support the sale to receive a special bonus of as much as HK$25 a share, they said.

videocam
7
Li Ka-shing (centre) during his final annual general meeting as the chairman of his flagship companies CK Hutchison Holdings and CK Asset Holdings in Hung Hom on 10 May 2018, before his retirement. Photo: Sam Tsang
IPO

Hong Kong orders brokers to rein in credits to pre-empt IPO madness

Futu Securities, the city’s biggest online broker, said the SFC directive might cool the IPO market frenzy a bit.

People walk past an electronic sign showing the Hang Seng Index in Hong Kong on February 26, 2025. Photo: AFP
IPO

Hong Kong widens lead over Singapore as Asia’s top financial centre: report

Nine of the top 20 global centres maintained their ranking, suggesting confidence in the financial sector amid slow economic growth.

videocam
9
Singapore

Ontario Teachers’ departure is Hong Kong’s loss, Singapore’s gain

Canada’s third-largest pension fund will wind down its operations over the next 18 months, spokesman says.

4
Advertisement
Advertisement
Advertisement
SCMP Exclusives

Exclusive | Hong Kong key to StanChart’s US$200 billion new money target: CEO Winters

Bank is developing over 200 use cases for AI, including fraud detection and prevention, anti-money-laundering screening and new products.

videocam
Standard Chartered CEO Bill Winters, at SCMP office in Causeway Bay on 17 March 2025. Photo: Jonathan Wong
Hong Kong Monetary Authority (HKMA)

Hong Kong banks keep their prime rates steady after HKMA, Fed hold fire

The Fed is seen cutting rates again by midyear, while Hong Kong banks may lower their prime rates by 0.125 percentage points.

Hong Kong & China Gas

Towngas says tourism rebound, incoming mainland talent will drive sales in 2025

Towngas says its renewable energy business on the mainland was a strong profit contributor.

Singapore

Chinese tycoon sues Singapore family office ex-staff, claims US$56 million fraud

Lee Fung International owner Zhong Renhai has accused four former employees of fabricating documents to misappropriate funds.

High-rise office buildings in Singapore’s central financial district. The city state had attracted more than 2,000 single family offices as of the end of last year. Photo: AFP
Mainland China

The custodian of a third of China’s US$3.2 trillion reserves is hiring in Hong Kong

The firm is seeking trainees for fundamental research and systematic trading, according to a posting on HKCampusRecruitment.

Hong Kong-based SAFE Investment is responsible for managing a third of China’s US$3.227 trillion foreign exchange reserves. Photo: Reuters
Crime in Hong Kong

Hong Kong anti-corruption agency arrests 22 over HK$2 million mortgage fee fraud

Eighteen bank staff among those accused of taking bribes from intermediary to defraud institution of referral fees in mortgage loan applications.

Electric & new energy vehicles

CEO Lei Jun sees progress as Xiaomi raises 2025 EV deliveries target by 16%

Xiaomi is entering the high-end segment of the EV market and also eyeing overseas sales as it ramps up production.

videocam
Insurance

Manulife picks chief actuary Finch as Asia CEO to lead biggest profit centre

Steve Finch will take over as Asia CEO from May 9, replacing Phil Witherington who is heading back to Toronto to become global CEO.

Steve Finch, the incoming president and CEO of Asia at Manulife Tower in Kwun Tong on 18 March 2025. Photo: Sun Yeung
ESG investing

Hong Kong investor to leave Webb-site data as ‘gift to public interest’

David Webb says he hopes someone will carry on his work of collecting and distributing data on corporate governance and other topics.

David Webb attends an Administrative Appeals Board hearing at Central Government Offices in Tamar on July 3, 2015. Photo: K.Y. Cheng
Wealth Report

From niche to necessity: private credit transforms Asia’s lending landscape

As rising interest rates and market volatility push investors towards alternative assets, private credit is gaining traction – though some question whether the sector can maintain its strong returns.

Hong Kong property

ICBC (Asia) backs Hong Kong developers with loan support as sector struggles

Local subsidiary of China’s largest bank has ‘zero’ non-performing loans from Hong Kong developers and plans to increase home mortgages.

Advertisement
Advertisement
Advertisement
Help preserve 120 years of quality journalism.
SUPPORT NOW
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement