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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.
People cross a road in Tokyo earlier this month. Fifty-year mortgages are transforming home ownership for young buyers in Japan. Photo: AFP
Japan

Will Japan’s young embrace 50-year loans amid rising housing prices?

Opting for 50-year loans lowers monthly costs, but the long-term risks are mounting.

Japan

Bank of Japan’s historic rate increase signals new era for economy

IPO

Chinese AI, chip start-ups court global investors with Hong Kong listing plans

Mergers & Acquisitions

Chinese brokerage CICC unveils merger details with Dongxing, Cinda

The three-way merger will create China’s fourth-largest investment bank with assets of US$128 billion.

CICC will issue some 3.1 billion new A shares at 36.91 yuan to acquire all outstanding shares in Dongxing Securities and Cinda Securities to facilitate the merger. Photo: CFOTO/Future Publishing via Getty Images
IPO

Holiday rush: Hong Kong IPO market sparkles with busiest December in years

From biotech to AI, December’s listings – including at least 15 down the stretch – crown the city’s revival in equity fundraising.

HKEX

HKEX amends float rules to strengthen Hong Kong’s status as global finance hub

The reforms are meant to boost liquidity and attract high-quality companies, reinforcing the overall competitiveness of the capital markets.

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China property

China Vanke unveils proposal to extend US$366 million bond after 3 failed bids

Bondholders will vote on the revised plan from Thursday to Monday, and it requires over 90 per cent of the total voting rights to take effect.

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In the first three quarters of this year, Vanke posted a net loss of 28.02 billion yuan. Photo: Reuters
IPO

HashKey shares debut flat in Hong Kong amid bitcoin bear market

The firm, one of 11 licensed virtual asset trading platforms in Hong Kong, raised US$206 million in the city’s first crypto-native IPO.

Capital gains tax

Hong Kong signs tax treaty with Norway, marking fourth such agreement this year

Treasury chief Christopher Hui said the government plans to begin CDTA negotiations with Slovenia and Oman early next year.

Semiconductors

China’s tech ambitions stoke red-hot chip IPO market

MetaX shares make their debut on Wednesday after a wildly popular IPO as China’s tech self-sufficiency push fuels investor demand for AI-related stocks.

MetaX C500 GPU. Photo: Handout
China economy

Opinion | Global finance is quietly moving east

The IMF’s Shanghai Centre will not alter global finance overnight but shows that Asia’s voice in shaping international financial norms is growing louder.

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(From left to right) People’s Bank of China Governor Pan Gongsheng, International Monetary Fund Managing Director Kristalina Georgieva, and Shanghai Mayor Gong Zheng mark the launch of the IMF’s Shanghai Centre on December 8. Photo: Handout
Hong Kong

Hang Seng Bank shareholders to vote on HSBC buyout proposal on January 8

Hang Seng Bank’s independent financial adviser recommends that shareholders vote in favour of HSBC’s proposal to privatise the lender.

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China property

Vanke’s bondholders reject payment extension, raising default risk

The rejection in a three-day vote that ended late on Friday gives the developer a grace period of five business days to pay 2 billion yuan of onshore bond.

Hong Kong economy

Opinion | How Hong Kong can capitalise on Chinese creative destruction

The Greater Bay Area’s success shows that with the right environment, creative destruction can generate inclusive growth.

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An electric vertical takeoff and landing (eVTOL) aircraft, developed by Chinese drone maker EHang, carries out a demo flight at the urban air traffic operation demonstration centre in Bao’an district, Shenzhen, on April 16. Photo: Xinhua
Hong Kong property

Yau Tong project nearly sells out amid hopes of home market recovery in 2026

The flats at One Park Place were in high demand after developers Sino Land, CSI Properties and MTR offered discounts of up to 15 per cent.

A view of One Park Place in Yau Tong. Photo: Google maps
Stocks

Macroscope | As global spending needs grow and debt rises, business as usual won’t suffice

The increase in government debt means that nations must look elsewhere for funds required to meet socioeconomic needs.

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US Federal Reserve

Editorial | Hong Kong must find new growth areas amid uncertain US monetary policy

Divisive US Federal Reserve interest rate cut underscores why the city should not look too much to American interest rate cuts to bolster the economy.

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China GDP

China to keep high fiscal deficit ratio in 2026 to buoy spending plans: analysts

After central economic work conference, observers said ratio is likely to stay at this year’s record 4 per cent in line with ‘targeted’ spending.

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President Xi Jinping speaks at this year’s central economic work conference in Beijing. Photo: Xinhua
IPO

Hong Kong needs to attract global champions to broaden fundraising base: FSDC

Think tank urges the expansion of connect schemes to cover a wider range of asset classes and the promotion of digital asset trading.

IPO

China’s generative AI tiger MiniMax pursues Hong Kong IPO to expand global reach

Hong Kong equity market offers platform for mainland Chinese AI firms seeking international investors amid intensifying domestic competition.

Mergers & Acquisitions

Chow Tai Fook sells Australian energy assets for US$4.3 billion

Sembcorp Industries to acquire 100 per cent ownership of Alinta Energy, which Chow Tai Fook acquired in 2017.

Alinta owns a portfolio of power-generation assets and a gas and electricity retail business throughout Australia. Photo: Handout
Malaysia

‘We’re just trying to survive’: young Malaysians buckle under rising debt

The country has seen a nearly 60 per cent increase in bankruptcies among those under 30 amid rising living costs and access to easy credit.

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Young Malaysians are struggling to stay afloat as rising costs and easy credit fuel growing financial stress. Photo: Shutterstock
Blockchain

Swift tests blockchain with Ant International and HSBC in cross-border trial

By using the ISO 20022 messaging standard, the partners say they can make tokenised deposits interoperable with legacy systems.

Interest rates

Six major Hong Kong banks keep prime rates unchanged despite HKMA base rate cut

Savings rates near zero limit room for cuts as lenders protect profitability margins, analysts say.

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United States

US Fed delivers quarter-point rate cut as policymakers weigh inflation outlook

Move falls short of Trump’s demands as debate over Fed independence intensifies and markets brace for global spillover effects.

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US Federal Reserve Chair Jerome Powell is set to step down in May. Photo: Reuters
Chinese offshore investment

China’s sovereign fund reveals it opened London office after Trump win

China Investment Corporation opened its third offshore office in London in December 2024, joining outposts in Hong Kong and New York.

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The City of London financial district’s skyline, as seen from the Thames River. Photo: EPA
IPO

Hong Kong’s IPO juggernaut projected to raise up to US$45 billion in 2026: KPMG

It will be a pivotal year for hi-tech listings, which will help cement Hong Kong’s place at the top of global markets, auditing firm says.

Hong Kong economy

Opinion | As UK-China ties warm, Hong Kong can be a natural bridge

China’s innovation and influence present exciting opportunities for both nations, and Hong Kong plays a unique role in this equation.

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