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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.
The impact of Beijing tax policy changes will be negligible, according to Ping An executives. Photo: Shutterstock
Insurance

Ping An eyes Hong Kong ETFs after nod on cross-border investment

China’s largest insurer downplays tax changes, shares positive outlook after reporting 36 per cent profit growth.

Hong Kong stock market

Hong Kong stock exchange eases listing rules with 12-month application window

Singapore

Hong Kong financiers press for tax breaks after Singapore’s challenge

Insurance

Chinese insurer Ping An’s profit rises 36% on policy sales, investments

Earnings beat analysts’ estimates, with performance mainly driven by increase of new life policies and investment gains.

A logo of Ping An is seen outside a building in Shenzhen. Photo: Reuters
Bonds

China and US bond markets head in opposite directions

The US Treasury tried to cool rising borrowing costs in the dollar debt market with a surprise intervention, while yields in China are near the lowest in a year.

Financial regulation

Chinese banks embrace cheaper short-term loan rates. A risk to profits?

As some major lenders begin pricing corporate debt against flexible short-term markets, analysts warn the shift could squeeze net interest margins even further.

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IPO

‘IPO queen’ Pamela Chung says time is ripe for listing connect scheme

Scheme introduction would allow mainland Chinese investors access to the city’s IPOs and boost investor capital, Vistra managing director says.

Pamela Chung Kong-hung at her office in Causeway Bay on August 11. Photo: Jonathan Wong
IPO

China’s Mech-Mind Robotics set to take orders for US$300m IPO: sources

Developer of 3D cameras and AI software for robots raises target by US$100 million amid investor enthusiasm.

Currencies

Japan’s yen is falling yet again. What could Washington and Tokyo do next?

Another US-Japan intervention may be needed to prop up the Japanese currency, as a US Treasury rout fuels the yen carry trade, analysts say.

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Hong Kong property

Prudential Hong Kong expands headquarters across Swire Properties’ towers

Company boosts office footprint despite insurance sector’s concerns over China’s tax clampdown.

The expansion positions Prudential for its next phase of growth, according to the company. Photo: Getty Images
Wealth management

Goldman Sachs upbeat on wealth outlook despite worries over China’s tax scrutiny

Robust fee growth tipped for Hong Kong, Singapore banks as mainland Chinese clients’ offshore allocations driven by diversification: report.

People walk past buildings in Central, Hong Kong. Photo: Sun Yeung
Macau

Beyond the casino: Macau bets on modern finance, fintech in new five-year plan

Road map targets 60 per cent non-gaming share of GDP by 2030 through infrastructure, healthcare, hi-tech industries and closer mainland links.

Gold in Hong Kong

Hong Kong taps tech strength in joint venture to power gold settlement

Alibaba Cloud among partners chosen to create a platform for Hong Kong’s gold clearing and settlement system next year.

Robotics

Unitree Robotics surges 629% to US$66 billion valuation in Shanghai share debut

Stock jumps as first listing by humanoid robot maker draws 9.8 million retail investment accounts competing for just 9.7 million shares.

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People watch humanoid robots dance at the Unitree booth during the World Artificial Intelligence Conference in Shanghai on July 17. Photo: Reuters
Yuan

Use of yuan hits 6-month high in Hong Kong’s fast-payment system

Yuan-denominated payments rise 34 per cent, with Payment Connect mechanism acting as catalyst for multiplying cross-border use cases.

The transaction momentum coincides with Beijing’s intensified campaign to internationalise the yuan. Photo: Shutterstock
China economy

In Focus | A matter of trust: China’s wealthy grapple with new offshore asset tax rules

Once a reliable vehicle for tax avoidance, offshore trusts are being reconsidered as enforcement bodies step up their efforts, backed by new regulations.

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Insurance

Beijing urges mainland insurers to invest in Hong Kong-listed ETFs

Hong Kong’s status as global financial centre receives a boost as China’s financial regulator touts city’s exchange-traded funds.

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Accounting and auditing

Hong Kong’s 5-year plan should have tax breaks, listing reforms: HKICPA

Accounting body also urges government to lobby mainland Chinese authorities about tax on cross-border trusts and insurance policies.

A view of the newly commissioned Fanling Bypass (Eastern Section) in the Northern Metropolis development megaproject. Photo: Eugene Lee
Wealth: Alternative Investments

Private markets, once institutional-only, are opening to retail investors

Unlocking alternative assets offers diversification and higher returns, but access and education gaps remain.

Supported by
Standard Chartered Global Private Bank
Hong Kong

Opinion | Chinese treasury futures launch cements Hong Kong as premier yuan hub

It marks Hong Kong’s transformation from a yuan payment channel and funding pool into a comprehensive centre for yuan assets.

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Bonds

Dim sum bond boom: record State Grid deal fuels Hong Kong offshore yuan surge

Lower yuan borrowing costs and longer maturities lure issuers, marking a fresh phase in the city’s expanding offshore market.

Nearly 500 billion yuan of offshore yuan bonds were sold in the first seven months of the year, according to Bank of China. Photo: AFP
Agricultural Bank of China

Margins rise for China’s commercial banks, but will weak lending undo the gains?

A rare uptick in margins lifted Chinese lenders in the second quarter, but falling loan demand and policy constraints loom large.

A woman walks past a row of buildings in Beijing’s central business district on July 31. Photo: EPA
Wealth: Alternative Investments

China’s soft power play: how investing in sport is changing the game

Sport is becoming a global asset class, where China is expanding from manufacturing to backing teams, pioneering tech and trading media rights.

Supported by
Standard Chartered Global Private Bank
United States

China trims US Treasury holdings amid Iran war, Fed uncertainty

Beijing cuts exposure to US debt to US$633.4 billion, official data shows, amid broader diversification push.

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Wealth management

Even Hong Kong’s rich expect to work past retirement age, survey says

More people plan to work longer and ‘blend work, family responsibilities and personal aspirations’, Manulife Hong Kong CEO says.

The percentage of Hongkongers expecting to work past retirement age is higher than in Singapore and mainland China, but lower than in Japan. Photo: Karma Lo
Semiconductors

Ingenic taps Hong Kong market to raise HK$3.2 billion for chip expansion

The semiconductor maker is set to raise a share offering in the city and begin trading later this month.

Hong Kong Exchanges and Clearing in Central. Photo: Jelly Tse
Wealth: Alternative Investments

AI-driven asset demand is reshaping Asia-Pacific’s investment landscape

Vast demand for infrastructure, fuelled by digitalisation and the energy transition, offers solid opportunities for private capital across the region.

Supported by
Standard Chartered Global Private Bank
Hong Kong politics

Opinion | How has John Lee’s ‘new chapter’ for Hong Kong promise held up?

As the chief executive works on both his policy address and a five-year plan for the city, more boldness, reforms and innovation are needed.

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