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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.
Futu Holdings was among the offshore brokerages ordered by Chinese regulators in late May to stop mainland residents from opening new accounts to trade foreign securities directly. Photo: Sam Tsang
Futu

China closes another offshore investing loophole as TRS faces restrictions

Brokerages told to halt expansion of offshore-linked TRS portfolios as Beijing tightens oversight of cross-border investing channels.

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Yuan

Hong Kong readies offshore yuan initiatives after Shanghai move

Banking & finance

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

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.

Beijing’s plan to revive foreign direct investment
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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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.

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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.

Delegates attend the opening ceremony of the Lujiazui Forum in Shanghai on June 17. Photo: Xinhua
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.

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.

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.

Wu Qing, chairman of the China Securities Regulatory Commission, speaks at the Lujiazui Forum 2026 in Shanghai on Wednesday. Photo: Reuters
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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HAIAN, CHINA - MARCH 20, 2024 - A staff member counts Chinese yuan at a bank in Haian, East China’s Jiangsu province, March 20, 2024. (Photo credit should read CFOTO/Future Publishing via Getty Images)
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.

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.

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.

The Securities and Futures Commission (SFC) chairman Kelvin Wong Tin-yau. The increased scrutiny is part of Beijing’s efforts to strengthen oversight of capital flows. Photo: Sun Yeung
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.

Chinese e-commerce apps are seen on a mobile phone. Photo: Shutterstock
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.

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.

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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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China’s newly appointed financial regulator chief Ding Xiangqun. Photo: Handout
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’.

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.

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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Ding Xiangqun has been appointed as new Party chief of the National Financial Regulatory Administration (NFRA) after her predecessor Li Yunze was removed from the position. Photo: Handout
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.

Mainland China’s retail investors have four primary legal avenues to diversify their portfolios overseas. Photo: Shutterstock
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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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.

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
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.

The Tiger Brokers mobile app shown on a phone. Photo: SCMP
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.

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.

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