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News about the global financial industry with a focus on developments in Hong Kong and China.
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last updated:
19 September, 2024
HSBC
Hong Kong firms use lai see envelopes as marketing tool in digital era
HSBC and ICBC (Asia) promote milestones using lai see envelopes, while the newly rebranded Hong Kong Gold Exchange sends out 60,000 red packets.
14 minutes ago
Hong Kong economy
Letters
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How Hong Kong could take the lead in instant payments
28 Jan 2025 - 11:30AM
United States
Scott Bessent wins Senate confirmation as US Treasury Secretary
28 Jan 2025 - 9:06AM
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IPO
Hong Kong’s economy to benefit from capital flow, rate cut: ANZ
City’s economy is likely to grow between 2.5 and 3 per cent, ANZ chief economist Raymond Yeung says.
28 Jan 2025 - 7:30AM
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Hang Seng Bank
Hong Kong’s regulator fines Hang Seng Bank US$8.5 million for misconduct
The SFC found that the bank had engaged in serious misconduct, including excessive fees and soliciting clients for frequent transactions.
27 Jan 2025 - 8:56PM
China property
Vanke gets new chairman from its No. 1 shareholder to spur growth
New chairman’s state-linked background sends positive signals, but company’s fate still depends on a sales recovery, an analyst says.
27 Jan 2025 - 11:22PM
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Electric & new energy vehicles
BYD resorts to forex trading strategy to counter yuan’s volatility
The world’s largest EV maker is aiming to protect its growing global operations from yuan volatility amid rising trade tensions.
27 Jan 2025 - 7:42PM
Hong Kong Monetary Authority (HKMA)
Hong Kong’s Exchange Fund reports fifth-best return despite fourth-quarter loss
The fund’s return fell 3 per cent in 2024 to HK$219 billion (US$28 billion) due mainly to a loss of HK$20.1 billion in the fourth quarter.
27 Jan 2025 - 6:27PM
China stock market
Beijing unveils US$7.2 billion injection of insurer capital for stocks
China Pacific, Taikang Life and Sunshine Life among the firms putting ‘patient capital’ into A shares to help stabilise the market.
27 Jan 2025 - 3:00PM
China stock market
China stocks set for US$236 billion influx from state-owned investors: UBS
Beijing’s call for insurers, mutual funds and social-security funds to boost their A-share investments should reduce volatility, analysts say.
27 Jan 2025 - 9:00AM
4
Foreign exchange market
Standard Chartered banks on yuan assets amid US-China tensions
The lender has already seen higher demand for foreign-exchange management and hedging, and the need will only grow, an executive says.
27 Jan 2025 - 8:00AM
Wealth management
Exclusive
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Macau’s first local mutual fund targets mainland investors via connect scheme
A&P Macau Patacas Money Market Fund will soon be offered to mainlanders in the Greater Bay Area.
27 Jan 2025 - 7:00AM
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Hong Kong economy
European fintech firms eyeing Hong Kong as Asia base, Paul Chan says
Finance minister has wrapped up Davos trip, says leading fintech players showing interest in expanding to Hong Kong.
26 Jan 2025 - 7:36PM
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China property
Can Shanghai absorb 84,000 homes this year as sales slow, prices rise?
Some 30,000 flats from 270 projects are due to be launched this year, while developers are sitting on an inventory of 54,000 units.
26 Jan 2025 - 3:29PM
Asean
How to make it in America: pressures, pitfalls for China consumer firms going global
As domestic spending falters, Chinese consumer brands are eyeing global markets, but tariffs and cultural barriers could get in their way.
26 Jan 2025 - 10:07PM
AIIB
AIIB president calls for ‘fundamental reforms’ to global institutions
Head of Beijing-based multilateral development bank says current global governance structure fails to incorporate emerging economies.
24 Jan 2025 - 5:00PM
Bonds
Hong Kong can become multicurrency bond hub with Beijing’s support: experts
Many Hong Kong public bodies have seen increasing interest in multicurrency bonds to attract more international investors, UBS says.
24 Jan 2025 - 7:30AM
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China economy
Editorial
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Channelling of funds into China markets to bring needed stability
Move by Beijing aims to counter volatility from threats of Donald Trump with flow of proceeds from pensions and insurance.
24 Jan 2025 - 1:57AM
Hong Kong property
Mortgage registrations hit record low as rate hikes spook market: Centaline
Owners registered 47,917 mortgages on various properties in 2024, the least since Centaline Property began tracking the data in 2000.
23 Jan 2025 - 10:37PM
Financial crime
HSBC touts 50% increase in suspicious transactions halted in past year
Hong Kong’s largest lender prepares to launch a new alert system, as it works to educate consumers about potential scams.
23 Jan 2025 - 7:45PM
Digital currencies
Hong Kong bitcoin ETFs could open to some mainland investors under new measures
New rules further opening up China’s financial markets could give some mainlanders access to cryptocurrency investment products for the first time.
23 Jan 2025 - 6:30PM
Hong Kong property
Shimao’s lender seeks private credit deal on US$1.3 billion loan
The loan, which matures on September 30, is backed by a complex in Hong Kong’s Kowloon Tong neighbourhood.
23 Jan 2025 - 4:29PM
China economy
Salary caps spread in China’s finance sector amid ‘common prosperity’ drive
Some state-backed securities firms have already implemented annual pay caps for senior executives – and large banks, insurance firms and stock exchanges are next.
23 Jan 2025 - 3:55PM
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Hong Kong economy
Hong Kong’s Paul Chan defends city’s currency peg to US dollar in Davos
Finance chief says important to offer stability for the business environment, as volatility expected in capital markets during Trump presidency.
24 Jan 2025 - 1:09AM
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5
China stock market
China directs state capital into A shares to anchor stock market
Starting this year, 30 per cent of the annual insurance premium from new policies will be put into yuan-denominated A shares, regulator Wu Qing said.
24 Jan 2025 - 7:11PM
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10
Greater Bay Area
HSBC unveils 25-storey tower in Qianhai to drive cross-border collaboration
The bank says it sees ‘huge potential for economic and trade cooperation between Guangdong and Hong Kong’.
22 Jan 2025 - 5:30PM
Technology
Opinion
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In the global marathon for tech supremacy, Brics’ size matters
Collaborative, flexible Brics gives leading members China and Russia a significant advantage over the increasingly defensive and restrictive West.
22 Jan 2025 - 4:30PM
Hong Kong Monetary Authority (HKMA)
Hong Kong’s banks gird for lean times as 9-month profit growth slows
Net interest margin narrowed to 1.5 per cent in the first nine months last year from 1.67 per cent in 2023, according to HKMA data.
22 Jan 2025 - 9:59PM
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