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Hong Kong Monetary Authority (HKMA)
Banking & finance
News about the global financial industry with a focus on developments in Hong Kong and China.
Honor’s logo hangs above the smartphone maker’s booth at the Shanghai New International Expo Centre in Shanghai on June 18, 2025, during the first day of the Mobile World Conference. Photo: Getty Images
IPO

Chinese smartphone maker Honor moves closer to onshore share listing

Mainland market’s fourth-largest smartphone maker first announced plans to list A shares in November 2023.

New World Development

New World gets banks’ 100% backing for US$11 billion refinancing

US-China trade war

China sells US Treasuries

Digital currencies

Hong Kong sharpens crypto hub focus amid rising global competition

Hong Kong is seeking an early lead in stablecoins and tokenisation as Trump pushes the US to become the ‘crypto capital of the planet’.

Hong Kong is looking to take a lead in key areas of the digital asset industry, including stablecoins and tokenisation. Photo: Shutterstock
Yuan

Dollar is ‘America’s to lose’: experts argue at ‘Summer Davos’ amid yuan push

Trump’s tariffs threaten greenback’s supreme status, but analysts see long road ahead for Chinese currency.

Central banks

Russian central bank to increase forex sales to US$113.5 million a day

Unable to trade in dollars or euros due to Western sanctions, the central bank now relies solely on China’s yuan for interventions.

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AIIB

‘Hotbed of opportunity’: Premier Li says China’s economy offers ‘certainty’

Chinese premier says Beijing will play bigger role in global development and calls on Asian infrastructure bank to address challenges.

Chinese Premier Li Qiang speaks at the ASEAN - Gulf Cooperation Council (GCC) - China Economic Forum official dinner on the sidelines of the 46th Association of Southeast Asian Nations (ASEAN) Summit in Kuala Lumpur, Malaysia, on May 27, 2025. Photo: Reuters
Hong Kong

Shanghai Gold Exchange launches first offshore vault in Hong Kong

Vault witnesses several transactions of spot gold contracts after it becomes operational.

Hong Kong Mortgage Corporation

HKMC explores Greater Bay Area retirement options for senior residents

About 10,000 senior residents spent US$586 million on HKMC annuity policies in the first five months of this year, CEO Colin Pou says.

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AIIB

Exclusive | AIIB to expand global footprint with 20-member office in Hong Kong

The Beijing-based multilateral development bank’s satellite in Hong Kong will handle ‘operational investments’ with city institutions.

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The Asian Infrastructure Investment Bank will open a satellite office in Hong Kong, the Post has learned. Photo: Xinhua
Digital currencies

Hong Kong makes public stablecoin adoption a top priority in digital asset push

The government is calling for new proposals to test stablecoin applications and make tax concessions for digital asset holdings.

Pedestrians walk past a cryptocurrency dealership with ATMs on the outside in Causeway Bay on January 31. In a new policy statement, the Hong Kong government has proposed tax concessions for profits on cryptocurrencies. Photo: Antony Dickson
AIIB

China’s AIIB to double financing with help from private sector

China’s World Bank alternative intends to raise annual financing to US$17 billion by 2030 and work more with private investors under the leadership of incoming President Zou Jiayi.

Hong Kong stock market

Chinese courier SF to raise US$752 million via Hong Kong shares, bonds

The transactions represent Shenzhen-listed SF’s first offshore fundraising since its initial public offering in Hong Kong in November.

IPO

FWD files for Hong Kong listing amid slew of jumbo IPO deals

Insurer will get a market value of HK$48.3 billion based on its IPO share price of HK$38, before an overallotment option.

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FWD’s corporate logo atop its main building in Hong Kong. Photo: Reuters
Interest rates

Hong Kong steps into the currency market to defend local dollar’s peg

The city’s de facto central bank sold US$1.2 billion worth of US dollars to buy Hong Kong dollars at HK$7.85 per dollar.

Pedestrians in Central on May 25, 2025. Photo: Eugene Lee
Artificial intelligence

Opinion | We’re sleeping on threats from AI, shadow banking and cryptocurrency

The financial industry’s use of emerging technologies could lead to cascading crises if regulators don’t act fast to enforce transparency.

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IPO

Hong Kong investors hit jackpot as IPO boom delivers returns above 30%

Few asset classes globally match Hong Kong IPOs this year, as institutional and individual investors rush in hoping for eye-popping gains.

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AIIB

China’s Zou Jiayi, a former finance official, elected AIIB president

Former vice-minister of finance will begin her term in January, as the development bank faces a challenging environment for multilateralism.

Zou Jiayi, a former vice-minister of finance, has been elected president of the Asia Infrastructure Investment Bank. She was China’s nominee for the position. Photo: Handout
Hong Kong stock market

Hong Kong stocks’ rally to extend into second half, but risks remain: analysts

KGI Asia predicts that the Hang Seng Index will climb to 25,500 points by the end of the year.

Stablecoins

Are stablecoins the future? Don’t bank on it, warns the bank for central banks

Bank for International Settlements releases ‘advance chapter’ on stablecoins ahead of its Annual Economic Report that paints a future picture of a different financial system.

Wealth management

Asian family offices expand US footprint: Andon Hong Kong opens New York office

The firm manages money on behalf of Shenzhen-listed Andon Health, a Chinese maker of medical devices.

The skyline of downtown Manhattan in New York on March 15, 2022. Photo: Shutterstock
Yuan

China’s yuan set to benefit as central banks report doubts about US dollar

Survey of central banks shows concern over long-term viability of US dollar, but not enough for the yuan or other currencies to supplant it.

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Geopolitics are driving doubts about the US dollar among the world’s central banks, giving the yuan room to grow in stature. Photo: AFP
Cryptocurrency

Hong Kong family office VMS Group makes first foray into cryptocurrency

With about US$4 billion in assets under management, VMS plans to allocate up to US$10 million to strategies run by hedge fund Re7 Capital.

Bonds

Chinese firms drive US$13 billion Asian boom in convertible bonds

Appetite for equity-linked debt is strong amid global volatility, even with aggressive terms, analysts say.

Retailing

With The Monsters, Monkey King and Ne Zha, China IP businesses brace for growth

China’s IP sales are projected to grow at an annual rate of 17.2 per cent through 2029 after reaching US$1 billion in 2024, CICC says.

A Pop Mart store in Bangkok. Photo: AFP
Stablecoins

Beijing could use Hong Kong to test yuan-linked stablecoins: Morgan Stanley

Beijing’s digital currency ambitions are unlikely to unlock the full potential of the yuan’s internationalisation, analysts say.

Hong Kong has established the world’s first regulatory regime for stablecoins, with the law set to take effect from August 1. Photo: Shutterstock
Wealth management

Global investors turn to Hong Kong funds for returns amid geopolitical tensions

Hong Kong-domiciled funds saw net inflows of some US$44 billion in the 12 months to March, a threefold increase from a year earlier.

Yuan

China needs yuan-backed stablecoins ‘sooner rather than later’, Beijing urged

The US dollar’s dominance in global markets could be enhanced by stablecoins, and China has a golden chance to make the yuan a more global currency, analysts say.

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