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China has stepped up its efforts to promote the use of the renminbi in international transactions, which is part of the larger push aimed at eroding the dollar’s strength in global finance. Photo: NurPhoto via Getty Images

Letters | China should use US treasury holdings as leverage to lower US tariffs

Readers discuss how Beijing might work with the incoming Trump administration, shoebox housing and the retirement age in Hong Kong and the treatment of an Iranian protester.

Hong Kong treasury chief vows swift response to complaints over e-pension system

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Meet RHONY star Bethenny Frankel’s new beau, businessman Tom Villante

Beijing names financier Qi Bin as deputy director of Hong Kong liaison office

Qi Bin, vice-president of China’s sovereign wealth fund, will serve as a deputy at the central government’s liaison office.

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Qi Bin has been appointed as deputy of the central government’s liaison office in Hong Kong. Photo: Handout

Opinion | Here’s how the G20 can be more than a talk shop

While the grouping did a good job of dealing with the 2008 global financial crisis, in recent years, collective action has been sorely lacking.

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HSBC’s 4.5 billion yuan panda bond to boost globalisation of Chinese currency

The bond, which pays an annual coupon of 2.15 per cent, also reinforces Hong Kong’s role as the world’s offshore yuan centre, bank says.

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Ant-backed digital bank targets smaller businesses with quick, easy services

Digital bank says clients need better services, easier access to financing.

Anext Bank has made its name by providing digitised, cross-border financial services to micro, small and medium-sized enterprises. Photo: Anext Bank

UBS cuts China stock forecast amid Trump tariff threat, weak stimulus

Swiss money manager cuts mid-2025 and end-2025 targets for MSCI China Index because of tariff uncertainties and disappointing stimulus.

China eyes lift in ‘intensity, accuracy’ of monetary policies amid credit uptick

People’s Bank of China pledges to serve the real economy, while October’s credit data shows a slight improvement.

Tracker Fund turns 25 as Hong Kong eyes top ETF hub status in Asia

The Tracker Fund has mirrored the Hang Seng Index’s returns since inception, giving investors an indirect bet on a basket of benchmark stocks.

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A flashback to October 1999 when local investors lined up to subscribe to the biggest IPO in Asia outside Japan. Photo: AFP

Ant-backed credit rating firm gets central bank approval after 3-year wait

The joint venture, 35 per cent owned by Ant Group, had a prolonged wait after previously licenced firms were approved within weeks of applying.

The headquarters of Ant Group in Hangzhou on November 3, 2020. Photo: Shutterstock

As Chinese banks circle, Australia pushes ANZ to stay in Pacific island nations

For years, Western banks have been closing branches throughout the South Pacific. State-owned Bank of China has shown it’s eager to step in.

Trump’s crypto pledge may see China restore digital-asset market: HashKey head

HashKey chairman and CEO Xiao Feng said a number of factors may compel mainland China to open its digital-asset market in about two years.

Exclusive | China’s vice-premier to lead delegation of bankers for HKMA’s finance summit

China’s Vice-Premier He Lifeng will lead delegation to the 2024 Global Financial Leaders Investment Summit in Hong Kong, two sources said.

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A video address by China’s Vice Premier He Lifeng during the Global Financial Leaders’ Investment Summit in Hong Kong on 7 November 2023. Photo: May Tse

Hong Kong to invest US$38 million from investment migration scheme

The Hong Kong government’s investment arm will use funds from the investment migration scheme to promote innovation.

Tourists gathered at the waterfront in Tsim Sha Tsui. Photo: Nora Tam

China’s market regulator strikes positive tone as investors expect turbulence

CSRC boss Wu Qing urges securities firms and asset managers to enhance their capabilities and strengthen risk controls.

Investors look past debt clean-up plan as minister pledges more proactive policy

A number of market participants say there is reason to believe that more economic relief is on the way.

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Hong Kong residential property prices to rebound in 2025; unsold inventory looms

‘We expect Hong Kong home prices to be up 5 per cent in 2025,’ says Praveen Choudhary of Morgan Stanley.

The Pavilia Forest sale in Kowloon Bay. Photo: Dickson Lee

How will Trump victory affect China’s shift away from US dollar assets?

Risk of financial sanctions prompts Beijing to rethink where it parks its massive foreign exchange reserves.

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Not ‘whatever it takes’: China’s stimulus strategy seen as long and intact

Beijing’s reluctance to use strong measures to rapidly turn tide of sluggish economy keeps markets, consumers and analysts waiting in wonder.

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China unveils debt-relief plan, keeps further stimulus salvo in reserve arsenal

Week-long NPC Standing Committee meeting ends with mostly forward-looking plans to right China’s economic ship.

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A week-long NPC Standing Committee meeting ended on Friday with mostly forward-looking plans to right China’s economic ship. Photo: AFP

DBS buys entire 75th floor in The Center in bullish sign for office market

The latest purchase from ‘Cassette King’ Chan increases DBS’s ownership to 11 floors in what was once the world’s most expensive tower.

The exterior view of The Center building in Central, once the world’s most expensive office tower. Photo: Nora Tam

China adds 6 trillion yuan in relief for ‘debt bombs’ – as it happened

China’s top legislative body approved additional debt relief for local governments and promised more support next year.

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GCash not rushing to launch IPO due to strong financial position: chairman

Ernest Cu, chairman of the Philippine mobile payments giant, says the initial public offering ‘should be ready very shortly’.

HSBC job losses to begin in weeks amid lender’s sweeping overhaul

The head of HSBC Holdings’ new global wholesale banking unit said the lender aims to wrap up its restructuring ‘very quickly’.

People pass an HSBC branch in Mong Kok on October 22, 2024. Photo: Nora Tam

Fed rate cut gives China room to move as Beijing eyes more economic stimulus

US Federal Reserve lowered its benchmark rate less than a day before China is expected to release its latest economic stimulus plan.

US Federal Reserve Board chairman Jerome Powell. Photo: Xinhua

Hong Kong’s base interest rate drops to 5% in second cut

Together with the half-percentage-point cut in September, Hong Kong’s key rate has now fallen back to February 2023’s level.

US Federal Reserve eases rates with quarter-point cut

Fed chairman Jerome Powell is expected to be questioned on Thursday about economic impact of Trump’s US election victory.

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Banking & finance
News about the global financial industry with a focus on developments in Hong Kong and China.
last updated:
19 September, 2024
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