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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.
Representatives of four companies bang gongs at the Hong Kong stock exchange to celebrate their share debuts on November 6, 2025. Photo: Nora Tam
IPO

Should the Hong Kong stock exchange make all IPO applications confidential?

Proposed rule change aims to encourage more applications, but what about transparency and document quality concerns?

Yuan

China adds 12 banks to digital yuan system, expanding e-CNY’s economic presence

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China economy

How China plans to use new law to further its financial superpower ambitions

US, Israel war on Iran

US federal debt becoming ‘alarmingly unsustainable’ as Iran war fuels spending

Washington’s rapid accumulation of sovereign debt sparks outcry, with some analysts questioning if Trump has the political will to cut the deficit.

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US sovereign debt has soared in recent years, with analysts warning that the Iran war could fuel even greater borrowing. Photo: AP
HKEX

Editorial | HKEX’s listing reforms will boost Hong Kong’s competitiveness

The measures seek to widen access for innovative firms seeking capital while preserving the city’s standards of financial probity.

US-China relations

US-China split on digital money deepens as stablecoin debate stalls Clarity Act

Crypto push for yield clashes with banks, slowing US legislation as China advances interest-bearing e-CNY on a different path.

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Central banks

China’s central bank pledges stability in capital markets amid global sell-off

With worries over the Iran war driving down stock prices, the People’s Bank of China has named market stability as a ‘major task’ in 2026.

Governor of the People’s Bank of China, Pan Gongsheng, speaks during a press conference on the sideline of the National People’s Congress in Beijing on March 6, 2026. Photo: AP
Hong Kong stock market

SFC prepares to inspect Hong Kong IPO listing sponsors amid quality concerns

Market regulator will soon begin inspection of investment banks amid concerns about deficiencies in listing documents and misconduct.

Yuan

How China opened the door to creating a direct rival to US payment systems

Beijing has removed several key restrictions on its payment system, allowing it to expand beyond yuan settlements, economist says.

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Wealth management

Middle East banks eye Hong Kong as ‘safe haven’ amid Iran threats: InvestHK head

Investment-promotion agency is helping a couple of Middle East banks set up in the city and fielding more inquiries since the war started.

Smoke billows from a fire near Dubai International Airport on March 16, 2026. Photo: AFP
Hong Kong Monetary Authority (HKMA)

HKMA warns of interest rate uncertainty amid Middle East conflict

HKMA leaves city’s base rate untouched at 4 per cent, as HSBC, Standard Chartered and BOCHK keep prime lending and saving rates unchanged.

The Hong Kong Monetary Authority maintained the city’s base rate at 4 per cent on Thursday. Photo: Jonathan Wong
Iran

Iran conflict drives fund managers to slash risk and hoard cash: BofA survey

Fund managers pile into cash at fastest pace since Covid-19 as geopolitical tensions, inflation replace AI as top concerns, bank finds.

HSBC

HSBC launches US$2.5 billion AT1 bond issue in Hong Kong after market standstill

Lender’s AT1 bond sale is the first since Iran conflict froze the market, with Hong Kong’s stability making it the natural venue: analyst.

Wealth management

Chinese banks outpace rivals in Hong Kong wealth growth, Huatai HK CEO says

Booming listings and rising outbound investment demand are accelerating growth for Chinese players, SFC data shows.

Wang Lei, CEO of Huatai Financial. Photo: Handout
IPO

China’s tightened IPO rules for some ‘red chips’ in Hong Kong raise concerns

The CSRC asks some Hong Kong listing candidates to change their red-chip structure and issue H shares.

The CSRC is tightening listing rules for some firms seeking listings in Hong Kong. Photo: Jelly Tse
Hong Kong stock market

First HKIC bet SmartMore seeks Hong Kong IPO amid booming tech pipeline

Unicorn’s AI platforms power firms from Tesla to Apple suppliers, highlighting the government fund’s role in the city’s tech investment push.

United States

Trump administration urges judge to revisit ruling blocking Powell subpoenas

A federal judge had ruled on Friday that a DOJ investigation into Powell was intended to pressure the Fed chairman to lower interest ‌rates.

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Biomedicine: Companies

Hong Kong attracts wave of biotech IPO filings amid AI drug research boom

More than 10 pre-profit drug developers are seeking Hong Kong listings as AI-powered biotech platforms draw growing investor interest.

The latest applications come as healthcare and biotechnology equity capital market activity in Hong Kong reached US$15.6 billion last year. Illustration: Shutterstock
US, Israel war on Iran

Macroscope | Trump hasn’t counted on financial blowback from his war with Iran

As Washington fights a war with global economic ramifications, allies may soon begin to reassess their financial support of US coffers.

Hong Kong economy

Opinion | Hong Kong can play vital part in boosting crucial China-India relations

India is a vibrant, emerging and complex power with much to offer the city and China as a whole.

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Hong Kong economy

Editorial | Zero tolerance for insider trading central to Hong Kong’s financial future

Crackdown on wrongdoers a welcome sign of regulatory vigilance that is vital to the city’s role as an international finance hub.

Hong Kong regained its title as the No 1 market for IPOs last year. Photo: Sun Yeung
Biomedicine: Companies

In a first for China, Neuracle’s brain-computer interface wins approval

China’s BCI start-ups, seen as potential rivals to Elon Musk’s Neuralink, gain momentum as regulatory support and new capital fuel growth.

A man demonstrates a robotic hand with a brain-computer interface at the China International Import Expo on November 7, 2025. Neuracle’s regulatory milestone underscores China’s accelerating push in neurotechnology. Photo: AFP
Hong Kong stock market

Hong Kong sends ‘very strong message’ with insider-trading arrests

Joint operation by ICAC and SFC shows commitment to protecting city’s status as a fundraising hub, analysts say.

Hong Kong

Hong Kong’s Wealth for Good Summit to highlight AI, robotics opportunities

Fourth edition of summit comes as Hong Kong pursues goal of attracting 220 additional family offices by 2028.

Insurance

Hong Kong export credit insurer keeps premiums low despite Middle East tensions

Agency says limited exposure to the Middle East has kept trade risks contained for most Hong Kong exporters.

HKECIC chairwoman Agnes Chan Sui-kuen and commissioner Terence Chiu Man-chung Photo: Handout
China property

Chinese developer Sunshine 100 to oppose winding-up petition in Hong Kong

HTI Financial Solutions and Haitong International Financial Products filed the petition over a debt due in March last year, firm says.

Sunshine 100 China Holdings has defaulted on multiple redemptions since 2021. Photo: Handout
Fintech

Exclusive | HSBC, Standard Chartered tipped to win Hong Kong stablecoin licences in 2 weeks

The approvals would mark a milestone in Hong Kong’s push to regulate stablecoins while positioning itself as a global digital asset centre.

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Artificial intelligence

China’s financial institutions draw line on OpenClaw as AI frenzy spreads

The automated agent requires unusually high levels of access to user devices, raising security concerns.

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