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Banking & finance
News about the global financial industry with a focus on developments in Hong Kong and China.
China’s debt-to-GDP ratio slipped 1.1 percentage points to 308.2 per cent, according to a Beijing-based think tank. Photo: AFP
China GDP

China’s debt ratio dips. Why it may not bode well for the economy

Debt-level gains mask private-sector contraction, with government lone growth lever as households deleverage, firms shun borrowing: report.

HSBC

HSBC sells US$25 billion of Australian home loans to Blackstone

Mainland China

China’s CIPS to become settlement norm in Mongolia within 2 years: Golomt Bank

Yuan

China’s offshore yuan hits 3-year high as Beijing signals policy support

Politburo’s pledge to stabilise growth and boost capital markets helps drive rally, reinforced by days of relatively strong reference rates by the central bank.

The Communist Party’s Politburo has vowed to step up macroeconomic policy support and enhance the resilience of capital markets for the rest of the year. Photo: Getty Images
China stock market

China’s Politburo meeting bolsters hope state will support troubled stock markets

In rare reference to the nation’s capital markets, Beijing policymakers underscore their role in maintaining resilient capital markets.

China-UK relations

Letters | Moving out of Hong Kong would be a bad idea for HSBC and StanChart

Readers discuss a proposal that two of Hong Kong’s note-issuing banks should relocate, and employment protections in the digital age.

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China stock market

Elite company: the firms that were China’s most valuable before CXMT

Chipmaker’s ascent to highest market capitalisation ends two decades on top for energy conglomerates, lenders and consumer brands.

The state-backed maker of memory chips saw its market capitalisation surpass US$592 billion on Friday. Photo: VCG via Getty Images
Hong Kong

Cross-border investment still ‘robust’ despite China’s growing controls: CICC

Beijing’s tightening scrutiny of overseas trading has not significantly harmed ‘legitimate’ cross-border investment flows, lender says.

Quantum computing

Editorial | Hong Kong banks can no longer ignore the quantum threat

HKMA survey is a wake-up call for the city’s financial sector to embrace cryptographic agility before it’s too late.

Ant Group

Ant Group spin-offs pursue independent growth with strategic capital moves

The Chinese fintech giant’s three spin-off units are accelerating their capital-raising efforts after gaining operational autonomy in 2024.

The Ant Group booth at the World Artificial Intelligence Conference in Shanghai on July 17, 2026. Photo: Reuters
Financial crime

Hong Kong regulators freeze US$15.9 million linked to suspected IPO fraud

Regulator action comes amid broader push to strengthen IPO safeguards after rapid market recovery.

The logo of SFC is seen at the office of the Securities and Futures Commission (SFC) in Quarry Bay, Hong Kong, in March 2023. Photo: Yik Yeung-man
IPO

AI stock rout fells Innolight after mega Hong Kong IPO

Nvidia supplier Innolight declines on its Hong Kong trading debut as once AI-hungry investors turn increasingly nervous about sector’s huge spending plans.

China stock market

China’s market clean-up: Beijing cracks down on insider trading

Regulators intensify pursuit of corporate insiders, imposing fines and bans to restore stock market confidence amid widespread violations.

Gold in Hong Kong

HK’s gold imports set to rise after hitting 11-year high last month: analysts

Investor appetite, international precious metals trading hub ambitions drive growth as imports hit highest volume since late 2014.

Gold bars: Photo: Shutterstock
Artificial intelligence

Finance firms set to pour more into AI amid ‘data divide’ fears

A majority of surveyed asset managers said they would raise their AI budgets next year, affecting data management and workforce dynamics.

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A majority of surveyed global asset managers said they planned to raise their AI budgets by at least 50 per cent, according to a study by US fintech firm Clearwater Analytics. Photo: Shutterstock
Hong Kong stock market

How South Korea’s tech rout hit Hong Kong – and why regulators stepped in

Following an 80 per cent plunge in a popular SK Hynix leveraged fund, authorities have moved to overhaul rules for some high-risk investments.

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Interest rates

HKMA warns of interest-rate risk as traders bet on September rate rise

HSBC, Standard Chartered, Bank of China (Hong Kong) keep their prime and savings rates unchanged, mirroring HKMA’s decision to hold steady.

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United States

US Fed holds interest rates steady despite Warsh’s inflation vow

The decision drew dissents from three policymakers on the 12-member panel, as Trump’s Iran war continues to push up prices.

US Federal Reserve Chairman Kevin Warsh in Washington in June. Photo: Reuters
Hong Kong

Hong Kong expands CMU’s global reach with Swiss, Spanish securities link

The HKMA connects its securities settlement platform with Switzerland’s SIX exchange, while also launching equity post-trade services.

Yuan

China stokes panda bond boom in bid to grow tiny market

Overseas borrowers in China’s onshore yuan debt market will avoid some fees until 2028 as regulators seek to grow international use of the currency.

Hong Kong stock market

Why is Zhongji unveiling US$1.2 billion in buy-backs before its Hong Kong debut?

The optical-module maker plans to buy back shares denominated in yuan to anchor pricing before its initial public offering in the city.

A general view of Exchange Square in Central on July 21. Photo: Jelly Tse
Middle East

Standard Chartered posts 10% profit rise, launches US$1b buy-back

Share price surges on 38 per cent rise in wealth-management revenue, even as Middle East tensions and bad debt temper profit growth.

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Net profit climbed to a record US$3.37 billion, according to Standard Chartered. Photo: Reuters
HSBC

HSBC to relocate senior executive to Hong Kong amid pivot to Asia: sources

Aileen Taylor is set to move to the city as the bank focuses on tapping Asian growth markets and rebuilding its local investment banking team.

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Hong Kong stock market

Hong Kong investors hunker down for Fed decision, jumbo IPO

Both a US Fed rate policy meeting and the largest initial public offering in Hong Kong in seven years will occur on Thursday.

Bonds

Shanghai Clearing House targets global growth with expanded offshore yuan push

SHCH will broaden its clearing services across offshore yuan bonds, interest rates and foreign exchange products.

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China is taking steps to expand the offshore yuan pool by pushing a new model to boost international sales of its domestic bonds. Photo: CFOTO/Future Publishing via Getty Images
X (formerly Twitter)

Musk’s X launches invite-only ‘X Money’ payment service

Feature enables peer-to-peer transfers, bill pay, and wire transfers directly in app for paying subscribers.

X owner Elon Musk. Photo: TNS
China digital currency

Editorial | China’s drive to sidestep weaponised Western finance gains speed

Use of a multilateral central bank digital currency platform and a broader panda bond market will help China and other nations reduce reliance on the West.

Indonesia

Indonesian central banker’s exit signals dilemma over rate policy, growth target

Concerns over the independence of central banks in Indonesia and beyond have grown after Perry Warjiyo’s resignation.

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