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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.
WeChat Pay Hong Kong has been offering taxi drivers perks such as zero handling fees. Photo: Edward Wong
Hong Kong economy

WeChat Pay records fourfold rise in mainland tourist taxi payments in Hong Kong

Tencent executive also says more than 20,000 taxi drivers in city now accept both local WeChat Pay HK accounts and the mainland version.

Ant Group

Ant International and Ant Digital to seek stablecoin licences in Hong Kong

Bonds

China gets first private-builder dollar bond since 2023

Autonomous vehicles

Horizon Robotics plans to raise US$595 million in Hong Kong share placement

The maker of artificial intelligence chips for self-driving cars went public in Hong Kong last year.

Yu Kai, the chairman and chief executive of Horizon Robotics, in Hong Kong last year. Photo: handout
IPO

Chery to debut in third quarter as carmaker uses Hong Kong as a springboard

Hong Kong Chief Executive John Lee touts city’s capital markets and professional services at auto expo.

Blockchain

With early stablecoin law, Hong Kong looks to keep edge as finance hub

Hong Kong is looking to ‘secure a leading role in global payment systems’, one analyst says, as law comes ahead of a similar US stablecoin bill.

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Investing

US venture capital firm to unload stakes in 40 Chinese tech start-ups

Chinese venture capitalists, government-backed funds expected to fill a funding gap left by retreating international investors, analyst says.

Eight Roads has invested in companies including autonomous-driving firm Pony.ai. Photo: AFP
IPO

China may let Hong Kong-listed firms raise funds in Shenzhen via ‘H + A’ IPOs

The reversal of the usual A + H approach could help firms expand in the Greater Bay Area and encourage more Hong Kong IPOs, analysts say.

IPO

Haitian eyes US$1.22 billion Hong Kong IPO, one of the year’s largest

The final IPO size could reach US$1.48 billion if size adjustment and overallotment options are exercised at the top end of price range.

Electric & new energy vehicles

Chinese EV battery maker Eve Energy jumps on Hong Kong IPO bandwagon

The firm joins more than a dozen smart-mobility companies from mainland China aiming to raise funds amid the city’s listing surge.

Eve Energy, based in Huizhou in China’s southern Guangdong province, said the timing of its share sale would hinge on market conditions. Photo: Handout
Digital currencies

Hong Kong law creates firm foundation for stablecoins

Hong Kong’s strict licensing and reserve requirements could help pry China off the crypto sidelines and loosen the US dollar’s grip on global financial markets.

Photo: Shutterstock
Stocks

Labubu becomes bait for China’s Ping An Bank to lure young customers

Tactic draws attention of regulators as retail banks on the mainland struggle to attract young customers, analysts say.

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Bonds

Grab to sell US$1.25 billion in convertible bonds to fund acquisitions

Singapore-based Grab, whose app is ubiquitous in Southeast Asia for ride hailing and food delivery, will issue convertible bonds that mature on June 15, 2030, it said.

Stocks

Chinese stocks ‘not particularly cheap’ with weak earnings power, JPMorgan says

A re-rating requires an improvement in profitability, which is difficult to come by in the weak economy, money manager says.

Mark Davids, co-head of Asia-Pacific equities at JPMorgan Asset Management, based in Hong Kong. Photo: Elson Li
HKEX

IPO wave driving Hong Kong exchange operator to greater heights: Morgan Stanley

HKEX’s 41 per cent rise this year is set to continue, investment bank says, joining positive calls by Goldman Sachs and HSBC.

A person takes a picture of Exchange Square in Central, home of stock exchange operator Hong Kong Exchanges and Clearing, on April 7, 2025. Photo: Jelly Tse
China technology

Investors underinvested in China, though many express interest: Morgan Stanley

‘The fear of missing out on China’s technological development has once again appeared,’ US investment bank says.

China-Africa relations

Egypt is replacing Cairo – and China is helping build the new capital

Chinese construction giant will build, operate and maintain Egypt’s newest city which will replace Cairo as the country’s capital.

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Digital currencies

Hong Kong’s stablecoin law opens floodgates for boom in digital assets: brokers

Investors are increasingly interested in stablecoins, which are digital tokens pegged to a reference asset like a fiat currency.

Stablecoin logos. Photo: Shutterstock
HSBC

Exclusive | HSBC to grow investment bank to serve rising demand for IPOs

The bank said it would restructure to focus on high-return areas like Hong Kong and India, as well as exit low-profitability markets like Europe and the US.

Currencies

Open Dialogue | Is the US dollar’s decline inevitable? Kenneth Rogoff and Yu Yongding weigh in

The two economists reflect on how the Trump administration’s recent actions have harmed the US dollar – and handed China a golden opportunity.

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Hong Kong economy

Opinion | With stablecoin law, Hong Kong is reasserting its financial supremacy

While rivals like Singapore hedge their regulatory bets, Hong Kong is betting that institutional investors value clarity and transparency.

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Hong Kong’s new stablecoin regulation plugs into the broader digital infrastructure the city has quietly built. Photo: Shutterstock
Japan

BOJ should prioritise achieving price stability, deputy governor says

Shinichi Uchida said the bank should make clear it is not monetising government debt by ensuring that fiscal considerations do not take precedence.

Holograms are displayed on the new Japanese 1,000 yen banknote, at a currency museum of the Bank of Japan, in Tokyo, Japan, on July 3 last year. Photo: Reuters
China economy

Macroscope | How China’s overlooked financial system enabled its industrial success

China’s industrial policy could not have succeeded without a financial system harnessed in the service of balanced growth.

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Hong Kong economy

Hong Kong’s easier redomiciling policy ‘attracts 150 inquiries from companies’

Treasury minister hails ‘very positive’ response after new law makes it easier for companies to transfer legal domicile status to city.

Stocks

Step aside Shanghai, Hong Kong is China’s prize financial hub

Despite calling the two cities twin engines for finance, Beijing’s actions favour Hong Kong as China’s one true global funding hub.

Illustration: Lau Ka-kuen
Digital currencies

Crypto confiscated in Beijing to be liquidated in Hong Kong

Beijing’s security bureau has unveiled a plan to sell cryptocurrencies seized in criminal investigations, boosting Hong Kong’s crypto hub ambitions.

The Beijing Public Security Bureau has become the first law enforcement agency in China to detail a process for liquidating confiscated cryptocurrencies through Hong Kong. Photo: Reuters
Insurance

Manulife’s local unit to redomicile from Bermuda in November

‘Redomiciling to Hong Kong allows us to better align with the city’s robust financial and regulatory environment,’ CEO says.

Digital currencies

China Renaissance’s investment in stablecoin issuer Circle pays off

The Chinese bank invested in the US tech firm in 2018 through its Huaxing New Economy Fund.

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