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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.
The Bank of China building in Shanghai. Photo: Getty Images
Banking & finance

Bank of China accused of exploiting tax preferences to avoid paying US$348m

The bank channelled funds through affiliates and mass employee investors to pass off private funds as public, China’s top auditor says.

Banking & finance

Can Shanghai’s offshore finance push test Hong Kong’s dominance?

Futu

China closes another offshore investing loophole as TRS faces restrictions

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Yuan

Hong Kong readies offshore yuan initiatives after Shanghai move

Beijing is supporting the development of offshore yuan trading as part of a broader drive to boost the Chinese currency’s global role.

Hong Kong Financial Secretary Paul Chan Mo-po. Photo: SCMP
Banking & finance

China’s trading crackdown seen boosting Hong Kong as official capital hub

Analysts at ‘Summer Davos’ gathering highlight pivot towards official cross-border connect schemes to intermediate domestic wealth ‘on China’s own terms’.

China's economic recovery

Beijing’s plan to revive foreign direct investment

SCMP Plus annotates 15-point plan released by the central government aimed at attracting foreign investment and reversing a decline in capital inflows.

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IPO

Momenta granted regulatory approval to list in Hong Kong amid rumoured crackdown

As Beijing appears to tighten rules on the listing of domestic firms incorporated offshore, self-driving tech start-up Momenta gains IPO approval.

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Automotive solution provider Momenta, which produced this robotaxi model, has gained regulatory approval from Beijing to list in Hong Kong. Photo: AP
China stock market

China to back ‘qualified’ foreign firms for listing on domestic markets

Government says foreign-funded companies would be aided in domestic listings, as well as mergers and acquisitions.

Banking & finance

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.

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.

Analysts say a pilot trading system equips China’s central bank with a new lever to influence the offshore market while raising the yuan’s international profile. Photo: Shutterstock
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
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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Banking & finance

Lower bar to entry for innovative firms to list in Hong Kong, chamber says

The proposal could better serve Hong Kong as gateway for mainland firms to go global and for overseas firms to invest in Asia, the group says.

The facade of the Hong Kong Exchanges and Clearing (HKEX) in Exchange Square, Central. Photo: Jelly Tse
Wealth management

Hong Kong gazettes tax break for fund manager bonuses to boost wealth hub role

The tax reform bill, which the government expects will attract talent to the city, is set to be read by lawmakers on June 24.

The skyline seen from the Hong Kong Museum of Art. Photo: Elson Li
Banking & finance

Hong Kong regulators vow strict compliance as Beijing tightens capital controls

Regulators stress that Hong Kong’s role as an international financial centre must support China’s broader financial development objectives.

China's economic recovery

‘Not a crackdown’: China regulators eye neutral enforcement in shift from 2021

Increased scrutiny of tech giants and finance firms seen as end to the era of administrative restraint as officials move to curb monopolies and price wars.

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China's economic recovery

Citic Securities breaks ceiling with first ‘A’ class rating for China brokerage

Award of an A-minus rating seen as a milestone in China’s efforts to build globally competitive investment banks.

The logo for Fitch Ratings, one of the “big three” credit ratings agencies, in Canary Wharf, London. Photo: Shutterstock
Banking & finance

Beijing expects Hong Kong to press advantage as offshore yuan hub

Officials pledge ‘unswerving’ support for Hong Kong’s development as a financial centre while urging city to promote global yuan use.

Banking & finance

New head of China’s financial regulator vows to prevent ‘blow-ups’

Ding Xiangqun identified smaller lenders, the property sector and local government debt as sources of risk while calling for tougher supervision.

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Wealth management

China will enhance regulation of programme trading: CSRC chairman

China’s top securities regulator says new measures needed to ‘prevent someone from abusing the technology’.

Wu Qing, chairman of the China Securities Regulatory Commission, speaks at a press conference on the sidelines of the National People’s Congress in Beijing in March. Photo: Reuters
Banking & finance

Hong Kong banks tighten rules in mainland China as Beijing pores over outflows

Some banks are exercising more caution with offshore accounts for their mainland China clients amid tighter investment controls from Beijing.

At least one branch of the Bank of East Asia (BEA) in Shanghai has banned mainland Chinese customers from opening Hong Kong bank accounts. Photo: May Tse
Banking & finance

China appoints top regulatory official as financial clean-up drive continues

Ding Xiangqun takes up key role at the National Financial Regulatory Administration, one month after her predecessor was removed.

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Chinese offshore investment

Going global? Here’s a quick look at 4 options for China’s offshore investors

As Beijing tightens its grip on unlicensed stock platforms, mainland China’s retail players utilise these state-sanctioned options to diversify globally.

Banking & finance

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.

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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.

The logo of Futu Holdings is seen in a storefront in Hong Kong on May 26, 2026. Photo: Sam Tsang
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.

Banking & finance

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.

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