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Financial regulation

Financial regulation
Key developments in regulation of financial markets with a focus on those in Hong Kong and mainland China.
China’s National Development and Reform Commission has released a draft revision of measures governing outbound investment. Photo: Shutterstock
Chinese offshore investment

China targets offshore workarounds in new rules for individual investors

Newly drafted rules would expand oversight of direct offshore investments, with more reporting requirements but limited changes for market-linked schemes.

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Blockchain

Bitcoin tops US$80,000 for first time since May as US moves boost crypto

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Wealth management

Hang Seng Bank grows wealth network despite Beijing’s tighter capital scrutiny

Banking & finance

Why Hong Kong’s SK Hynix fund kept full leverage – and left investors strained

The chip fund maintained peak exposure as shares plunged, underscoring risks before regulators rolled out new flexible leverage rules.

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The SK Hynix logo is seen on one of its products during The 26th Semiconductor Exhibition in Seoul, South Korea, on October 23, 2024. Photo: Reuters
Banking & finance

Ping An eyes Hong Kong ETFs after nod on cross-border investment

China’s largest insurer downplays tax changes, shares positive outlook after reporting 36 per cent profit growth.

Hong Kong stock market

Hong Kong stock exchange eases listing rules with 12-month application window

Around 500 companies currently have listing applications pending approval in Hong Kong, far above the historical average.

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Banking & finance

Hong Kong financiers press for tax breaks after Singapore’s challenge

Lawmakers should hurry to approve proposed law or risk losing edge to Singapore in attracting asset managers, industry players say.

Singapore's monetary authority and finance ministry have announced measures including a tax exemption for investment profits. Photo: Shutterstock
Banking & finance

Chinese banks embrace cheaper short-term loan rates. A risk to profits?

As some major lenders begin pricing corporate debt against flexible short-term markets, analysts warn the shift could squeeze net interest margins even further.

Hong Kong courts

Evergrande liquidators challenge watchdog’s HK$1 billion settlement with PwC

Developer’s liquidators are seeking to have agreement with PricewaterhouseCoopers Hong Kong quashed on the grounds of an abuse of power.

Hong Kong property

Prudential Hong Kong expands headquarters across Swire Properties’ towers

Company boosts office footprint despite insurance sector’s concerns over China’s tax clampdown.

The expansion positions Prudential for its next phase of growth, according to the company. Photo: Getty Images
Wealth management

Goldman Sachs upbeat on wealth outlook despite worries over China’s tax scrutiny

Robust fee growth tipped for Hong Kong, Singapore banks as mainland Chinese clients’ offshore allocations driven by diversification: report.

People walk past buildings in Central, Hong Kong. Photo: Sun Yeung
China economy

In Focus | A matter of trust: China’s wealthy grapple with new offshore asset tax rules

Once a reliable vehicle for tax avoidance, offshore trusts are being reconsidered as enforcement bodies step up their efforts, backed by new regulations.

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Banking & finance

Beijing urges mainland insurers to invest in Hong Kong-listed ETFs

Hong Kong’s status as global financial centre receives a boost as China’s financial regulator touts city’s exchange-traded funds.

Banking & finance

Chinese central bank’s 15th five-year plan

The People’s Bank of China pledges to expand global use of the yuan to make the country a financial powerhouse in its first stand-alone five-year plan in at least a decade.

Photo: Shutterstock
Banking & finance

Hong Kong stablecoin list expands with Standard Chartered-led firm’s launch

Anchorpoint Financial kicks off institutional use of its Hong Kong dollar-linked stablecoin, HKDAP.

Retail use of the regulated cryptocurrency is expected as early as the end of the year, according to Anchorpoint Financial. Photo: Shutterstock Images
Banking & finance

China reformed its tax rules in 2018. Why is it now pushing stricter enforcement?

Declining fiscal revenue is prompting tax authorities to scrutinize offshore trusts and equity gains.

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Hong Kong property

Hong Kong property recovery faces new risk as Beijing widens offshore tax net

Potential taxation of offshore property income could curb mainland demand, while weaker insurance activity hits decentralised office markets.

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Banking & finance

China’s central bank eyes global yuan in first solo 5-year plan in over a decade

The strategy signals Beijing’s push to build a ‘strong central bank’ capable of driving its financial powerhouse ambitions, analyst says.

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Beijing’s push for yuan internationalisation is seen as crucial to reducing dependence on US dollar-denominated channels. Photo: Getty Images
Banking & finance

China’s panda bond market surges as Goldman Sachs flags limits to yuan expansion

Issuance of yuan-denominated debt surges, including in dim sum bond market, but sustained global use of yuan seen requiring broader access and stronger finance links.

Banking & finance

In Focus | Beijing hits super-rich with 20% offshore tax. What does it mean for Hong Kong?

For decades, Hong Kong has prospered by managing the wealth of Asia’s elite. Will that change as China introduces tougher offshore tax policies?

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Banking & finance

Don’t panic: China says 20% offshore insurance tax does not target Hong Kong

Beijing urged the market not to overreact to the policy – which it stressed was not new – after reports of the tax triggered a sell-off in Hong Kong.

The share prices of major financial firms in Hong Kong dipped on Thursday, after reports of that Chinese authorities had started levying a 20 per cent tax on gains from offshore insurance policies. Photo: SCMP/Sam Tsang
Banking & finance

Hong Kong’s US dollar peg faces fresh calls for review – but is change feasible?

Economists and financial analysts warn abandoning the anchor would pose risks that far outweigh potential rewards.

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The Hong Kong dollar’s peg to the US dollar was introduced in 1983 to stabilise the local economy. Photo: Shutterstock
Hong Kong stock market

As Hong Kong shares react to 20% levy report, investors eye Beijing’s next steps

Prudential, AIA and HSBC slid following report of the insurance levy, though Goldman Sachs says profit fallout may be limited.

China-Latin America relations

Brazil to become regular borrower in China, treasury official says

Brasilia cannot guarantee debut will happen this year, but wants it repeated to give companies a yuan benchmark to aim for.

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Hong Kong economy

Opinion | To lead Greater Bay Area integration, Hong Kong can look to San Francisco

As the city’s proposed five-year-plan seeks to increase regional cooperation, it should aim to drive alignment of rules and institutional frameworks in the Greater Bay Area.

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Vehicles running on the Hong Kong-Zhuhai-Macau Bridge on October 22. The three cities are part of the Greater Bay Area development zone. Photo: Xinhua
Wealth management

How China’s new offshore trust tax rules could shake billionaires’ fortunes

Soho China founder Pan Shiyi’s Cayman trust faces scrutiny as Beijing’s tax overhaul puts offshore wealth strategies in focus.

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Pan Shiyi, who lives in New York, is one of China’s most closely followed entrepreneurs. Photo: Dickson Lee.
HKEX

Treasury bond futures ‘a milestone’ to boost Hong Kong’s bridgehead role: CSRC

First offshore China government bond futures rose more than 1 per cent on debut on Monday.

Banking & finance

AIIB explores digital payments, eyes Hong Kong hub as it raises record funds

The development bank aims to raise a record US$11 billion this year, as it continues to broaden its operations, according to a senior official.

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