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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.
Exchange Square in Central. Finance chief Paul Chan says a well-calibrated expansion of cross-border stock trading will attract additional capital to the city. Photo: Jelly Tse
Hong Kong economy

Hong Kong aims to offer more investment options for mainland Chinese: Paul Chan

Authorities on both sides reviewing broader Greater Bay Area trading scheme, finance chief says, adding crackdown on illegal trades will help city.

Hong Kong property

Hong Kong banks force sales of distressed commercial property to control losses

China property

Have China home prices hit bottom? Some buyers are hunting bargains

Hong Kong economy

Hong Kong to roll out measures boosting offshore yuan trading in July

Government wants more listed firms trading stocks in renminbi and will use city’s hub status to help mainland Chinese firms expand overseas.

Hong Kong overtook Switzerland as the world’s largest cross-border wealth hub last year, with assets of US$2.95 trillion, according to a report by the Boston Consulting Group. Photo: May Tse
Hong Kong economy

Opinion | For Hong Kong to succeed in AI, energy cannot be an afterthought

Hong Kong must leverage the rest of the Greater Bay Area and manage competing energy demands between AI and public needs.

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Hong Kong

Editorial | Hong Kong and Shanghai extend the yuan’s international reach

As Beijing tightens compliance, the country’s finance hubs can safely and efficiently promote the trade of Chinese treasury futures.

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Artificial intelligence

Opinion | AI has been known to hallucinate. So have financial markets

Stock markets are booming on the assumption that US tech giants will deliver, but as liquidity becomes scarce, a reality check will ensue.

A sign displays outside Nasdaq on the day of SpaceX’s initial public offering in New York on June 12. Photo: Reuters
US Federal Reserve

China trims US Treasury holdings to 18-year low

Overall foreign holdings of US Treasuries climbed to US$9.353 trillion in April.

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Accounting and auditing

Why Hong Kong’s new corporate treasury centre plan could be a winning formula

Hong Kong is betting a simpler tax regime and upfront approvals will help it compete with rivals such as Singapore and Dublin.

United States

SpaceX bankers prepare for potential US$20 billion bond offering, sources say

The offering ⁠would mark the first time the rockets-to-AI company has issued investment-grade dollar ‌bonds.

The SpaceX building in Starbase, Texas. Photo: Reuters
US-China relations

‘A new chapter’: how Warsh’s US Fed debut is being viewed in China

A clearer focus on inflation and institutional changes could mark a watershed moment for the central bank, analysts say.

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New US Federal Reserve Chair Kevin Warsh holds a press conference following a two-day meeting of the Federal Open Market Committee at the US Federal Reserve in Washington on Wednesday. Photo: Reuters
Indonesia

Indonesia market sell-off fuels anti-Singapore sentiment online

Politics and finance collide as some social media users claim Singapore stands to gain from negative sentiment towards Indonesia.

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China's economic recovery

China’s policy blitz at Lujiazui Forum – what the monetary overhaul means

Regulators are leveraging currency strength to formalise outbound routes, granting fresh quotes for global assets while narrowing the interest-rate corridor.

Hong Kong

Hong Kong sets August debut for long-awaited offshore yuan bond futures

Beijing to strengthen the city’s status as a global hub for offshore yuan as it moves to internationalise the currency.

Hong Kong aims to launch offshore yuan bond futures trading in August. Photo: Jelly Tse
US-China trade war

China touts new finance tools to fend off sanctions

Anti-sanctions measures and efforts to globalise the yuan were among key topics as Chinese finance regulators and policymakers addressed the 2026 Lujiazui Forum.

Vice-Premier He Lifeng addresses the Lujiazui Forum. Photo: Reuters
Education

Hong Kong graduates prefer careers in finance, survey finds

Survey by CFA Institute reveals 90 per cent believe they have the skills to succeed and know what employers are looking for.

IPO

Global investors still in China’s orbit despite SpaceX IPO: HKEX chief

HKEX chief Bonnie Chan says global investors remain focused on China’s innovation story.

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Interest rates

Hang Seng Index hits lowest level in a year on rate-rise expectations

The index falls amid growing unease after Hong Kong banks and Fed hold rates steady.

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The US Federal Reserve held interest rates steady on Thursday at its first policy meeting under new chairman Kevin Warsh. Photo: Reuters
United States

US Fed begins Warsh era with hold on interest rates, may hike later this year

The Trump appointee is taking over amid repeated demands by the US president for rate cuts even as inflation becomes a growing concern.

Yuan

China accelerates digital yuan push as 26 banks join new cross-border platform

The platform will make it easier to make cross-border e-CNY payments, with banks operating in Brazil, Qatar and Thailand among others already signed up.

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China trade

Exclusive | ‘We cannot rely entirely on America’: Europe urged to deepen China ties on AI

Euro architect Christian Noyer says Chinese capital can help Europe build AI, green industries and strategic autonomy as it revamps markets.

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The US may at any time complicate Europe’s access to certain technologies, according to Christian Noyer. Photo: Shutterstock
HSBC

HSBC China opens doors for mainland investors to global markets

Despite the cross-border trading crackdown, analysts say Beijing will continue to allow investment in overseas markets via legal channels.

HSBC China has announced that it has become the first foreign bank to provide custodian services for a cross-border fund project that can help mainland clients invest in foreign markets. Photo: Getty Images
AI: Industry Trends

AI boom sparks Kingboard subsidiary’s US$1.5b stake sale to ramp up PCB capacity

AI server backlogs and supply chain strains push Kingboard to tap markets and expand circuit board output.

Bonds

China to support trading of treasury bond futures in Hong Kong

Top financial regulator declares support for move promoting yuan internationalisation and the city’s role as a yuan hub.

Yuan

Shanghai to lead ‘financial superpower’ push as China unveils plan to boost yuan

China’s central bank governor speaks at annual financial forum about further opening repurchase facilities and offshore trading to foreign central banks.

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HAIAN, CHINA - MARCH 20, 2024 - A staff member counts Chinese yuan at a bank in Haian, East China’s Jiangsu province, March 20, 2024. (Photo credit should read CFOTO/Future Publishing via Getty Images)
Hong Kong economy

Opinion | Can Hong Kong make a giant leap to commercial space insurance?

The explosive growth of China’s commercial space business, combined with geopolitical realities, gives the city a captive market.

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Illustration: Craig Stephens
Hong Kong economy

Editorial | As global wealth moves towards Asia, Hong Kong is stepping up

Tax incentives to lure corporations and wealthy individuals will help the city make a valuable contribution to national development.

United States

Central banks expand bullion holdings as US dollar’s dominance wavers

World Gold Council states about nine in 10 central banks will increase holdings as de-dollarisation trend continues amid global instability.

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