Advertisement
Advertisement
TOPIC

Banking & finance

Related Topics:
Banking & finance
News about the global financial industry with a focus on developments in Hong Kong and China.
Flags wave outside the Tianjin Meijiang Convention and Exhibition Centre during the Shanghai Cooperation Organisation (SCO) Summit in Tianjin on September 1. Photo: AFP
China trade

China-led SCO bloc looks to fast-track plan for new bank, rival Western lenders

Member states seek more financial autonomy and localised credit by advancing an effort to fund regional growth using their national currencies, not the US dollar.

videocam
China stock market

‘Tell the story well’: China pushes brokerages to shape stock market narrative

4
China economy

China’s private funds see assets soar by over US$400 billion amid tech boom

videocam
Hong Kong economy

Opinion | Cross-border wealth hub crown latest sign Hong Kong is roaring back

City overtook Switzerland in BCG wealth report, underscoring vital ‘superconnector’ role between mainland and international capital markets.

People walk through the Central district of Hong Kong on January 26. Photo: Jelly Tse
Yuan

For a yuan in deeper markets, Fed ex-head cites dollar playbook, flags risks

Meanwhile, surging costs are ‘likely to hit US inflation data a bit harder and perhaps longer’ than expected, according to the former central bank official.

Gold in Hong Kong

Low-cost gold ETF launched as Hong Kong links bullion trading with blockchain

New fund gives retail investors physical gold access from US$45, with tokenised design primed for future trading on regulated platforms.

Advertisement
Advertisement
Advertisement
Financial regulation

Mainland Chinese react as Hong Kong tightens access to offshore investing routes

Banks have been ordered to step up checks, part of wider efforts to strengthen oversight of cross-border capital flows.

6
Hong Kong's skyline Hong Kong regulators have ordered banks to strengthen compliance checks on mainland Chinese customers. Photo: Eugene Lee
China stock market

China’s brokerage crackdown: banks cut forecasts for Futu, Tiger

CCB and Goldman Sachs slash brokerage valuations, profit forecasts after regulatory action on unauthorised cross-border trading.

Artificial intelligence

US banks roll out American AI in Hong Kong despite geopolitical tensions

US AI companies have restricted access for users in Hong Kong and mainland China, forcing banks to navigate a compliance minefield.

Stablecoins

Letters | Mind the gap between Hong Kong digital asset policy and practice

Readers discuss digital asset audits, the danger of setting a ride-hailing cap, and the bigger picture on allowing dogs in restaurants.

Sam Bankman-Fried, founder of collapsed cryptocurrency exchange FTX, leaves Manhattan federal court in New York in 2023. Photo: AP
Hong Kong stock market

Appeal of China assets keeps rising among global investors: JPMorgan

Cohort of international investors considering investing in China rises to 57 per cent from 51 per cent a year ago, survey says.

5
A robot demonstrates its kicking ability at the 28th China Beijing International High-Tech Expo (CHITEC) in Beijing on May 8. Photo: EPA
China stock market

Editorial | Cross-border crackdown part of keeping China’s capital market stable

The penalties handed out to leading brokerages are harsh, but Beijing must show it means business as it cleans up China’s capital market.

China's economic recovery

Struggling Chinese regions mine ledgers for dormant riches in ‘idle’ property

Localities battling debt, such as Jilin and Chongqing, pivot to ‘asset revitalisation’ as land revenue remains weak, but analysts flag new risks.

videocam
Hong Kong

Hong Kong beats Switzerland as world’s largest offshore wealth hub, BCG finds

City tops cross-border wealth on IPO surge and mainland China inflows, as Singapore and US trail in consultancy’s global rankings.

8
A cross-border wealth growth of “around 9 per cent annually is projected through 2030” for Hong Kong, according to BCG. Photo: Nora Tam
Zijin Mining

China’s largest mining company poised for global top 3 status by 2028, says S&P

Ratings agency highlights Zijin’s project pipeline and cost discipline as the miner accelerates global expansion in copper and gold.

Zijin Mining’s outlook has been raised from “stable” to “positive”. Photo: Shutterstock
Yuan

China’s yuan gains ground in global trade with room to grow, Goldman Sachs says

The currency’s use in global trade has grown sharply in recent years but still falls short of China’s economic weight, the bank says.

China technology

Tech edge to boost Chinese firms’ overseas revenues to record high: UBS

Carmaking, power supply chains at forefront of China’s go-global expansion, driven by rising technological competitiveness, Swiss bank says.

Advertisement
Advertisement
Advertisement
China stock market

Unitree’s IPO progress spurs stock buying of firms with exposure to robot maker

As the robot manufacturer moves a step closer to its IPO, stocks of its investors and supply chain makers have shot up.

An electronic board shows stock prices below a pedestrian bridge in the Lujiazui financial district in Shanghai. Photo: Reuters
Mainland China

HSBC Hong Kong targets 7.5 million customers, same as city’s population

HSBC Hong Kong sees an increase in international clients coming to city to invest as it becomes a global wealth management hub.

4
Hong Kong economy

Editorial | Paul Chan’s trip just one step in strengthening relations with Europe

Hong Kong must continue to build on the finance secretary’s visit to highlight the city’s financial strengths and ease concerns over money laundering.

Mergers & Acquisitions

Hong Kong’s Jardine Matheson buys Australian diagnostic group I-MED for US$2.4b

The acquisition is one of the investment company’s largest in recent years and follows its Mandarin Oriental buyout in January.

The Sydney Opera House at Bennelong Point in Australia. Photo: Shutterstock
Hong Kong stock market

US$32b worth of Hong Kong assets involved in transborder trade crackdown: Citic

The assets involve a crackdown on Futu, Tiger Brokers and Long Bridge for offering mainland Chinese investors access to unlicensed trading.

A view of Victoria Harbour taken from Hong Kong Observation Deck. Photo: Sam Tsang
China economy

Millions of Chinese consumers ditch their credit cards amid weak retail spending

Banks report there are 120 million fewer active credit cards in China with 687 million customer accounts, a dramatic drop from 2022’s peak.

videocam
Wealth management

Hong Kong banks pour money into wealth centres in pricey premises

HSBC, Standard Chartered and CNCBI splash out on large, harbour-view locations to lure wealthy clients and their fee income.

Mainland China

Can currency swaps make China a lender of last resort?

Change is coming as the US dollar loses its shine and more yuan deals are struck, Zhu Min says.

videocam
A former Chinese central bank official says wider international use of the yuan would not only benefit China’s economy but also contribute to the stability of the global financial system. Photo: AP
Hong Kong economy

Hong Kong’s Paul Chan urges closer Europe ties, dialogue to work out differences

Finance chief says opportunities exist to tap city’s capital markets, while acknowledging concerns over trade imbalances.

Finance chief Paul Chan (right) holds talks with the European Commission’s Alexandra Jour-Schroeder (second left) in Brussels. Photo: Handout
Greater Bay Area

SHKP sells out latest flats in Tsuen Wan as Hong Kong market continues recovery

Centaline attributes the positive mood to improving China-US relations, solid economic data and policies that encourage talent inflow.

Bonds

Macroscope | Can Europe and Asia break the grip of US bond markets?

Too much money is chasing too few investment opportunities. Unified bond markets in Europe and Asia could offer safe options for savings to flow into.

videocam
Advertisement
Advertisement
Advertisement
Help preserve 120 years of quality journalism.
SUPPORT NOW
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement