HONG KONG (Reuters) - Beyond Ventures, a new venture capital fund backed by China’s Hony Capital, plans to raise HK$1.2 billion ($154 million) to invest in early-stage technology startups in Hong Kong as the financial hub continues to struggle to boost ... ( read original story ...)
Hong Kong leader condemns UK criticism over jailed activists
Hong Kong's leader has condemned criticism from British politicians over the city's recent jailing of student activists, saying such comments are unfair and "disrespectful." Addressing a business dinner in London on Wednesday, Carrie Lam said she was ... ( read original story ...)
BOC seized P2M worth of smuggled glutinous rice
MANILA: The Bureau of Customs (BOC) has discovered misdeclared goods inside a container van from Hong Kong. Its accompanying documents states it contains apparels such as undergarments. But following X-ray inspection, the Customs personnel discovered sacks ... ( read original story ...)
European Fintech deals indicate change of stance toward booming industry by conservative Hong Kong
TNG FinTech Group, Hong Kong’s biggest electronic wallet service provider, signed an agreement with Tranglo Europe Limited, a cross-border payment company in the UK, with an aim to expand its existing money transfer business to Europe. Another deal was ... ( read original story ...)
Hong Kong woman wants her ex out of B.C. home. The problem? His name, on the title: lawsuit
But Wu, who lives in Hong Kong, didn’t want to pay B.C.’s 15 per cent foreign buyers tax, court documents said. Chu is from Richmond, and Wu claims he helped her buy a home in the city by putting the land title and mortgage under his name. Online real ... ( read original story ...)
Hong Kong central bank warns of capital outflow after Fed’s plan
HONG KONG, Sept 21 (Reuters) - Hong Kong’s de facto central bank ... The Federal Reserve announced it would begin in October to trim its massive holding of U.S. Treasury bonds and mortgage-backed securities acquired in the years after the 2008 financial ... ( read original story ...)
As mortgages grow scarce in China, homebuyers turn to car and college loans, firm says
Outstanding individual mortgage loans rose 30.8 per cent at the end of June ... David Ng, Macquarie’s head of China&Hong Kong research, said he was not surprised buyers had been using consumer loans in an effort to bypass the restrictions, with ... ( read original story ...)
How the UK and Hong Kong partnership unlocks business opportunities
“Think Asia, Think Hong Kong” is returning to the United Kingdom after being launched here six years ago. Organised by the Hong Kong Trade Development Council (HKTDC), the campaign seeks to promote Hong Kong as a two-way platform for UK businesses to ... ( read original story ...)
Why Hong Kong is set to lead the way on game-changing economic strategies
Hong Kong was the top IPO market in the world last year and is also the leading hub for offshore business using the Mainland currency, the Renminbi. Hong Kong has the largest Renminbi liquidity pool outside the Mainland and banks in the city handle about ... ( read original story ...)
Patten warns against calls for Hong Kong independence
Hong Kong's last British governor, Chris Patten, said Tuesday that calls for the city's independence from China dilute support for democracy, and residents should engage in dialogue and not hate speech. Patten, who presided over the return of Hong Kong to ... ( read original story ...)
Hong Kong leader demands end of independence talk, warns ties with Beijing at risk
HONG KONG (Reuters) - Hong Kong’s leader urged an immediate end to independence debates in the Chinese-ruled global financial hub on Tuesday, warning that the issue was harming the city’s relationship with Beijing’s Communist Party leaders. ( read original story ...)
Hong Kong shares down as investors eye Fed meeting, China economy
Sept 19 (Reuters) - Hong Kong stocks dipped on Tuesday as traders awaited the ... and announce plans to begin unwinding its $4.2 trillion portfolio of Treasuries and mortgage-backed securities. China Investment Securities (HK) said it expects the Fed ... ( read original story ...)
China, Hong Kong stocks dip as investors await cues from Fed meeting
SHANGHAI: China and Hong Kong stocks dipped on Tuesday morning ... and announce plans to begin unwinding its $4.2 trillion portfolio of Treasuries and mortgage-backed securities. China Investment Securities (HK) said it expects the Fed to "reduce its ... ( read original story ...)
Rising credit-to-GDP gap signals banking system ‘vulnerability,’ warns report
A new international banking report groups Canada with China and the special administrative region of Hong Kong as jurisdictions whose domestic banking systems are at risk from rising debt levels. The Bank For International Settlements, which is owned by ... ( read original story ...)