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Wealth management

Wealth management
Latest news and features on wealth management, with a particular focus on Hong Kong, mainland China and Asia.
Elderly investors are becoming increasingly interested in Silver Bonds amid an uncertain financial market outlook. Photo: Jelly Tse
Banking & finance

Hong Kong’s Silver Bonds draw record 480,000 bids with higher interest rate

Hong Kong is expected to raise the final issuance to the upper limit of HK$55 billion, as applications from elderly investors have surged.

Banking & finance

Hong Kong regulator reclassifies certain funds with exposure to private markets

China stock market

More than 4 in 5 young mainland Chinese investors turn to offshore assets: study

Commodities

Why younger investors worldwide are stashing physical gold despite price swings

Gen Z buyers are driving demand for bullion, spurred by geopolitical tensions, inflation and the appeal of owning gold outright.

Gold is no longer seen purely as an investment for older or wealthy investors, according to traders. Photo: dpa
Foreigners in China

China ends dividend tax exemption for expats, applying 20% rate

The exemption previously enjoyed by overseas nationals on gains from foreign-funded firms in China was cancelled in an announcement on Tuesday.

Banking & finance

Citi boosts headcount, Invesco names new executive in Asia expansion

US financial firms Citigroup and Invesco are continuing to expand in Asia even amid geopolitical uncertainties.

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Banking & finance

Hong Kong’s long-term wealth hub status safe from mainland curbs: JPMorgan exec

The investment bank’s North Asia chairwoman downplays regulatory hurdles – and views the city’s rivalry with Singapore in ‘win-win’ terms.

Kwang Kam-shing, CEO of JPMorgan Hong Kong, poses for a picture in Central. Photo: Edmond So
Banking & finance

BOCHK earnings climb as lower credit costs offset margin pressure

Bank beats forecast with HK$23.74 billion profit, helped by reduced credit costs and stronger fee income from wealth and insurance.

Hong Kong property

Hong Kong home prices slip amid worries over Beijing’s tax clampdown

Housing rally stalls in July as tax risks curb demand, analysts say, raising doubts over market’s near-term outlook.

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Banking & finance

Tiger, Futu surge overseas after Beijing clampdown strips mainland growth engine

Brokerages shift to Southeast Asia, US and Europe amid Beijing’s stepped-up drive to root out illegal cross-border securities activity.

An ad for Tiger Brokers' AI chatbot runs on a Hong Kong tram. Photo: Handout
Banking & finance

Hong Kong expands AI sandbox with new projects spanning dozens of partners

Regulators select 36 use cases involving dozens of financial institutions and tech partners to test AI use in onboarding, payments, claims and customer service.

Hong Kong regulators are exploring the use of more autonomous AI agents across some services. Photo: Shutterstock
Hong Kong property

As more expats flock to Hong Kong, luxury home rents poised for further upswing

The top source of foreign finance executives moving to Hong Kong is coming from Europe and the US, says relocation firm.

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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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Hong Kong

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

Hong Kong lender says it is expanding its workforce to capture rising demand from high-net-worth clients.

Pedestrians walk past a Hang Seng Bank branch in the Central district of Hong Kong. Photo: Jelly Tse
Stocks

Investment market volatility is ‘here to stay’ unless global recession strikes

Rich investors put on notice as AI advancement and geopolitical risks continue to change market structure, causing instability, says Nomura.

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Julia Wang, chief investment officer for North Asia at Nomura International Wealth Management, in Nomura’s office in Central. Photo: SCMP Pictures
Singapore

Singapore’s carrots for fund managers set to sharpen competition with Hong Kong

Apart from a tax exemption for investment profits, Singapore plans to relax a visa rule for fund management professionals.

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.

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State Administration of Foreign Exchange (China)

Guotai Haitong unit handed US$7.8m penalty over QDII breaches

The violations involved several QDII products offered between 2019 and 2022, which have ‘since been rectified’, Guotai Haitong said.

Beijing is tightening its scrutiny of capital flows. Photo: Shutterstock Images
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.

Insurance

Chinese insurer Ping An’s profit rises 36% on policy sales, investments

Earnings beat analysts’ estimates, with performance mainly driven by increase of new life policies and investment gains.

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
Global minimum tax

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

Even Hong Kong’s rich expect to work past retirement age, survey says

More people plan to work longer and ‘blend work, family responsibilities and personal aspirations’, Manulife Hong Kong CEO says.

Banking & finance

Reduce your exposure to US assets before they lose value, Swiss bank warns

Swiss private bank says structurally high inflation and government deficits will erode value of US dollar and Treasuries over the next decade.

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A broker works on the floor of the New York Stock Exchange. Photo: AP
Insurance

Hong Kong insurers to weather Beijing’s tax shift with 8-10% premium growth: S&P

Credit-rating agency says heightened scrutiny likely to create compliance hurdles, not destroy demand.

Insurance sales agents approach passers-by on Canton Road in Tsim Sha Tsui, Hong Kong. Photo: Eugene Lee
Insurance

Exclusive | Hong Kong to reappoint insurance regulator as industry braces for tough period

Insurance Authority CEO Clement Cheung will be reappointed on Friday to help industry navigate Beijing’s tax clampdown, sources said.

Chinese offshore investment

Opinion | Beijing’s offshore insurance tax tests Hong Kong wealth management

While markets initially fell, more transparent cross-border oversight could strengthen the city’s credibility as a wealth management centre.

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