Flint also said Monday that HSBC wants to be a top-tier wealth manager in Asia, driven by China’s relaxation of local ownership rules. The Pearl River Delta, the manufacturing hub located just north of Hong Kong, is a key priority area for growth ... ( read original story ...)
StanChart to apply for virtual banking license in Hong Kong
HONG KONG (Reuters) - Standard Chartered plans to apply for “virtual banking” license in Hong Kong, the emerging market-focussed lender said on Monday, amid a rush by global banks to boost their digital presence to attract more young customers. ( read original story ...)
HK$100 billion green bond plan to establish Hong Kong as global hub, says monetary authority
Hong Kong Monetary Authority executives and banking officials said during a media briefing on Monday. Hong Kong is Asia’s fourth largest bond issuance centre after Japan, mainland China and South Korea. Helen Wong Pik-kuen, chief executive for Greater ... ( read original story ...)
StanChart to pursue Hong Kong virtual banking licence
Standard Chartered plans to apply for a virtual banking licence in Hong Kong, the first global bank to announce its intention to do so and a sign the London-based emerging markets lender aims to launch a new banking business in the city. The introduction ... ( read original story ...)
Hong Kong independence activists get record jail sentences for riots
Hong Kong — Three protesters from Hong Kong’s radical youth opposition were jailed on Monday for taking part in violent unrest, receiving the harshest sentences handed down to democracy activists since the city returned to Chinese rule in 1997. ( read original story ...)
Trio of Hong Kong activists receive prison sentences for 2016 clash
A Hong Kong court sentenced activist Edward Leung to six years in prison Monday for his part in a violent nightlong clash with police over illegal street food hawkers two years ago. Leung, 27, was among a generation of young political activists who emerged ... ( read original story ...)
China’s Xiaomi books $1 billion quarterly loss ahead of blockbuster IPO
HONG KONG (Reuters) - Chinese smartphone maker Xiaomi booked a first-quarter net loss of 7 billion yuan ($1.09 billion) ahead of its blockbuster initial public offering. That compares with a net loss of 43.89 billion yuan for the whole of 2017, according ... ( read original story ...)
HSBC to invest $15-17 billion as strategy swings from shrink to grow
LONDON (Reuters) - HSBC will invest $15-17 billion in areas including technology and its core Asian markets of Hong Kong and China as it swings from a strategy of cost-cutting to growth, new Chief Executive John Flint said on Monday. The announcement is ... ( read original story ...)
Standard Chartered says it will apply to operate a virtual bank in Hong Kong
Hong Kong and London-listed Standard Chartered Bank plans to apply for a virtual bank licence, making it the first traditional bank seeking a licence locally to operate purely online without physical branches. The Hong Kong Monetary Authority last month ... ( read original story ...)
Hong Kong Activist Sentenced to 6 Years for Clash With Police
HONG KONG — A Hong Kong activist was sentenced to six years in prison on Monday for his role in a 2016 clash between protesters and the police over unlicensed street vendors selling traditional snacks during the Lunar New Year. The activist, Edward Leung ... ( read original story ...)
Three Hong Kong democracy activists jailed up to seven years for rioting
HONG KONG (Reuters) - Three protesters from Hong Kong's radical youth opposition were jailed on Monday for taking part in a violent unrest, receiving the harshest sentences handed down to democracy activists since the city returned to Chinese rule in 1997. ( read original story ...)
Hong Kong pro-democracy activist jailed six years for rioting, assaulting police
HONG KONG (Reuters) - A former rising star in Hong Kong's radical youth opposition was sentenced to 6 years in jail on Monday for rioting and assaulting police, one of the city's harshest sentences against a democracy activist in recent years. Edward Leung ... ( read original story ...)
Hong Kong pro-democracy activist jailed for six years for rioting, assaulting police
HONG KONG (Reuters) - A former rising star in Hong Kong’s radical youth opposition was sentenced to 6 years in jail on Monday for rioting and assaulting the police, one of the city’s harshest sentences against a democracy activist in recent years. ( read original story ...)
Hong Kong sentences activist Leung to 6 years in prison
Chinese President Xi Jinping warned in a speech last year marking 20 years since the city became a semi-autonomous region of China that any activities in Hong Kong seen as threatening China's sovereignty and stability would be "absolutely impermissible." ( read original story ...)