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Banking & finance
News about the global financial industry with a focus on developments in Hong Kong and China.
Illustration: Victor Sanjinez
Hong Kong economy

Exclusive | Hong Kong must embrace ‘bipolar’ role to thrive in its ‘Stage 3.0’: Charles Li

Veteran deal maker urges an IPO link to lure global resource giants and turn Chinese buyers into owners as city solidifies role as East-West bridge and global capital hub.

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IPO

AI firm MiniMax prepares for mainland China listing after Hong Kong shares surge

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Hong Kong economy

Hong Kong considers new offshore yuan venture fund for tech, emerging industries

HKEX

Editorial | HKEX helping Hong Kong be a superconnector

As it marks 40 years as a unified exchange, the bourse’s next venture is branching out to partner with exchanges in the Gulf and Central Asia.

Cathay Group Chair Guy Bradley (left) and Hong Kong Exchanges and Clearing (HKEX) Chairman Carlson Tong Ka-shing (right) prepare to ring the gong to mark 40 years of HKEX on May 28, 2026. Photo: Jonathan Wong
Bonds

Macroscope | Why bond yields are going up everywhere

Unlike stock markets, bond markets are signalling a more cognisant and mature appreciation of the state of government finances.

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Mainland China

China appoints top regulatory official as financial clean-up drive continues

Ding Xiangqun takes up key role at the National Financial Regulatory Administration, one month after her predecessor was removed.

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Chinese offshore investment

Going global? Here’s a quick look at 4 options for China’s offshore investors

As Beijing tightens its grip on unlicensed stock platforms, mainland China’s retail players utilise these state-sanctioned options to diversify globally.

Mainland China’s retail investors have four primary legal avenues to diversify their portfolios overseas. Photo: Shutterstock
HKEX

As Hong Kong stock exchange turns 40, can the chip supercycle keep IPOs flowing?

US$6.1 trillion exchange marks its 40th year amid fierce global competition, as brokers see challenges sparking opportunities.

China trade

China-led SCO bloc looks to fast-track plan for new bank, rival Western lenders

Member states seek more financial autonomy and localised credit by advancing an effort to fund regional growth using their national currencies, not the US dollar.

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China stock market

‘Tell the story well’: China pushes brokerages to shape stock market narrative

Regulators are moving to tighten oversight of brokerage research, aligning assessment criteria more closely with policy goals.

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An electronic board shows Shanghai stock indices as people walk on a pedestrian bridge in the Lujiazui financial district in Shanghai on March 2. Photo: Reuters
China economy

China’s private funds see assets soar by over US$400 billion amid tech boom

Chinese investors are putting more money into private equity, venture capital and other private funds amid a surge in tech investment.

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People visit a Metax booth during the World Artificial Intelligence Conference in Shanghai. Photo: Reuters
Hong Kong economy

Opinion | Cross-border wealth hub crown latest sign Hong Kong is roaring back

City overtook Switzerland in BCG wealth report, underscoring vital ‘superconnector’ role between mainland and international capital markets.

Yuan

For a yuan in deeper markets, Fed ex-head cites dollar playbook, flags risks

Meanwhile, surging costs are ‘likely to hit US inflation data a bit harder and perhaps longer’ than expected, according to the former central bank official.

Gold in Hong Kong

Low-cost gold ETF launched as Hong Kong links bullion trading with blockchain

New fund gives retail investors physical gold access from US$45, with tokenised design primed for future trading on regulated platforms.

The launch comes as gold prices fluctuate amid geopolitical tensions and macroeconomic uncertainty. Photo: DPA
Financial regulation

Mainland Chinese react as Hong Kong tightens access to offshore investing routes

Banks have been ordered to step up checks, part of wider efforts to strengthen oversight of cross-border capital flows.

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Hong Kong's skyline Hong Kong regulators have ordered banks to strengthen compliance checks on mainland Chinese customers. Photo: Eugene Lee
China stock market

China’s brokerage crackdown: banks cut forecasts for Futu, Tiger

CCB and Goldman Sachs slash brokerage valuations, profit forecasts after regulatory action on unauthorised cross-border trading.

Artificial intelligence

US banks roll out American AI in Hong Kong despite geopolitical tensions

US AI companies have restricted access for users in Hong Kong and mainland China, forcing banks to navigate a compliance minefield.

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Stablecoins

Letters | Mind the gap between Hong Kong digital asset policy and practice

Readers discuss digital asset audits, the danger of setting a ride-hailing cap, and the bigger picture on allowing dogs in restaurants.

Sam Bankman-Fried, founder of collapsed cryptocurrency exchange FTX, leaves Manhattan federal court in New York in 2023. Photo: AP
Hong Kong stock market

Appeal of China assets keeps rising among global investors: JPMorgan

Cohort of international investors considering investing in China rises to 57 per cent from 51 per cent a year ago, survey says.

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China stock market

Editorial | Cross-border crackdown part of keeping China’s capital market stable

The penalties handed out to leading brokerages are harsh, but Beijing must show it means business as it cleans up China’s capital market.

China's economic recovery

Struggling Chinese regions mine ledgers for dormant riches in ‘idle’ property

Localities battling debt, such as Jilin and Chongqing, pivot to ‘asset revitalisation’ as land revenue remains weak, but analysts flag new risks.

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The skyline is seen in Changchun, the capital of Jilin province, where authorities are trying to repurpose idle properties. Photo: Shutterstock
Hong Kong

Hong Kong beats Switzerland as world’s largest offshore wealth hub, BCG finds

City tops cross-border wealth on IPO surge and mainland China inflows, as Singapore and US trail in consultancy’s global rankings.

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A cross-border wealth growth of “around 9 per cent annually is projected through 2030” for Hong Kong, according to BCG. Photo: Nora Tam
Zijin Mining

China’s largest mining company poised for global top 3 status by 2028, says S&P

Ratings agency highlights Zijin’s project pipeline and cost discipline as the miner accelerates global expansion in copper and gold.

Yuan

China’s yuan gains ground in global trade with room to grow, Goldman Sachs says

The currency’s use in global trade has grown sharply in recent years but still falls short of China’s economic weight, the bank says.

China technology

Tech edge to boost Chinese firms’ overseas revenues to record high: UBS

Carmaking, power supply chains at forefront of China’s go-global expansion, driven by rising technological competitiveness, Swiss bank says.

UBS expects China’s power and car supply chain sectors to outperform. Photo: EPA
China stock market

Unitree’s IPO progress spurs stock buying of firms with exposure to robot maker

As the robot manufacturer moves a step closer to its IPO, stocks of its investors and supply chain makers have shot up.

An electronic board shows stock prices below a pedestrian bridge in the Lujiazui financial district in Shanghai. Photo: Reuters
Mainland China

HSBC Hong Kong targets 7.5 million customers, same as city’s population

HSBC Hong Kong sees an increase in international clients coming to city to invest as it becomes a global wealth management hub.

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Hong Kong economy

Editorial | Paul Chan’s trip just one step in strengthening relations with Europe

Hong Kong must continue to build on the finance secretary’s visit to highlight the city’s financial strengths and ease concerns over money laundering.

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