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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 view of Exchange Square in Central, which houses the headquarters of bourse operator Hong Kong Exchanges and Clearing, on August 19, 2026. Photo: Nora Tam
IPO

Tighter scrutiny of Hong Kong IPOs could slow deal flow, analysts say

CSRC and SFC wake-up calls to bankers and other intermediaries indicate emphasis on quality over quantity amid fervour for listings.

Wealth management

Wrise Prestige accelerates mainland China expansion with new offices, AI lab

Citigroup

Citigroup hires veteran banker Sophia Wang to lead China institutional sales

China International Capital Corporation

China targets overseas brokerages in crackdown on pay loopholes and corruption

The move extends Beijing’s regulatory reach to financial institutions’ overseas activities, which have been a grey zone for corruption.

CICC leads the pack in Hong Kong’s primary market, capturing an 18.7 per cent share. Photo: CFOTO/Future Publishing via Getty Images
Wealth management

In Focus | Why shifting assets won’t save New York’s rich Chinese from Beijing tax rules

With the 90-day grace period soon to run out, some ultra-wealthy living outside mainland China face complicated tax liability questions.

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Brics

Brics pivots to pragmatic de-dollarisation via payment links: analysts

Analysts say lack of movement towards a common currency reflects a more pragmatic approach to reducing reliance on US dollar.

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IPO

Forms Syntron draws Hong Kong’s next-gen tycoons in HK$940 million IPO

Business heirs are moving beyond property into cutting-edge tech and digital finance companies as the city’s IPO market rebounds.

Peter Lee Ka-kit, the elder son of real estate tycoon and Henderson Land Development’s majority owner Lee Shau-kee, at his family office in IFC, Central, Hong Kong. Photo: Dickson Lee
China trade

Kazakhstan to launch QR payments with China, expanding yuan’s reach in retail

Planned launch follows existing cooperation between super apps Alipay and Kaspi.kz, letting travellers use home-country app at certain merchants without exchanging cash.

HKEX

South Korea’s trading hours expansion piles pressure on Hong Kong

Korea Exchange launches four-hour after-market in addition to regular trading, intensifying debate in Hong Kong over extending hours.

China shipbuilding

Cosco Shipping arm clears China IPO path amid global shipbuilding boom

Supply chain stress and transit detours boost China’s shipbuilding orders, setting stage for Cosco Shipping Heavy Industry’s listing.

A container ship arrives at the Lianyungang port, in eastern China’s Jiangsu province. Photo: AFP
Venture capital market

Hong Kong aims to scale its tech ecosystem, nurture more unicorns: HKSTP CEO

Innovation and technology hub is attracting global capital, supporting and fostering bigger and more mature investment deals.

Terry Wong Ping-sau, CEO of the Hong Kong Science and Technology Parks Corporation (HKSTP), poses for a portrait on September 1. Photo: Sun Yeung
China’s private sector

Open Questions | Veteran investor Fang Fenglei on why China’s ‘investibility’ remains a certainty

Influential financier who helped found CICC says arguments against China investment ‘do not hold water’.

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United States

Ahead of Fed meeting, Trump says US should have world’s lowest interest rate

Speaking in Ireland, US president insists on lower rates despite rising inflation concerns ahead of midterm polls.

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Artificial intelligence

Z.ai’s fresh US$5b fundraising push comes hot on the heels of July capital raise

The Chinese AI developer is courting more backers as it scales its models and infrastructure amid intensifying competition.

Z.ai, also known as Zhipu AI, is a Chinese tech company specialising in artificial intelligence, and it is looking to raise billions more in capital. Photo: Shutterstock
Hong Kong property

Diminishing gains: why next-gen wealthy Hongkongers pivot from property assets

Property is losing its sparkle for next-generation investors who prioritise liquidity, easy succession and higher returns.

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A view of Repulse Bay in Southern district of Hong Kong Island. Photo: Sun Yeung
Bank of Japan

Is the yen carry trade starting to unravel as Japan’s currency strengthens?

The trade relies on borrowing cheap yen to invest in higher-returning assets overseas, but analysts say the strategy faces mounting pressure.

Investing

‘Gone in seconds’: Chinese buyers snap up government debt amid US bond turmoil

From social media tips to long queues at banks, buyers in China are rushing to secure government debt amid a global sell-off of US Treasuries.

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China property

Opinion | Beijing can rewrite China’s property rules, but it can’t undo the damage

A narrower supply pipeline, industry consolidation and years of balance-sheet repair are inevitable as China seeks stability, rather than a perpetual housing boom.

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Illustration: Davies Christian
Wealth management

China’s young investors embrace risk. Why are their portfolios so safe?

Despite high risk tolerance, millennials and Gen Z invest in safer assets due to a combination of factors, a study shows.

Wealth management

Why Hong Kong banks see mainland Chinese investors as key to wealth growth

The city will continue to serve as a vital platform linking mainland China with international capital, Hong Kong Association of Banks says.

Hong Kong stock market

Treasury yield hits 19-year high, ECB raises rates: the numbers moving markets

Hong Kong’s MPF assets reaching HK$1.67 trillion and European Central Bank increasing rates by 25 basis points are in spotlight this week.

US Treasury Secretary Scott Bessent in Texas on Wednesday. Photo: AFP
IPO

Yuen Kee Food clears HKEX listing hearing for up to HK$400 million IPO: sources

The dumpling chain is likely to list in October following three funding rounds.

A Yuen Kee Dumpling store. Photo: Handout
Bonds

Record China-US gap in bond yields unlikely to trigger capital flight: Marsh

Executives say dollar dominance remains intact as borrowers diversify funding and use offshore yuan bonds to help manage elevated US financing costs.

Yuan

Investment surge in Central Asia drives calls for Chinese yuan use

Use of the currency can cut risks and costs for infrastructure firms active in the mineral-rich region, according to speakers on an investment panel.

China stock market

China says yuan’s global rise is ‘irreversible’ – and has a plan to back it up

From bilateral swaps to keeping premier tech firms on mainland exchanges, Beijing details the blueprint to build a financial powerhouse.

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Beijing is expanding payment networks, currency swaps and the digital yuan to make it easier to trade with the currency globally. Photo: Getty Images
IPO

Hong Kong watchdog investigates Cloudbreak Pharma for ‘rigged’ IPO

Regulator cites ‘serious concerns’ about ‘artificial impression of demand’ in US-based company’s US$78 million listing in 2025.

Hong Kong's market regulator considered the suspension “necessary or expedient to maintain an orderly and fair market”. Photo: Handout
Wealth management

UBS ends fund sales on a wealth platform in China amid stiff competition

Change is part of ‘business integration plan’ aimed at ‘optimising’ the wealth-management business, Swiss bank says.

AIIB

Pooling power: how AIIB plans to quadruple capital for Asia’s infrastructure

The bank is building a pooled-capital platform to draw insurers, pension funds and other investors into Asia’s infrastructure debt.

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