Hong Kong Financial Secretary Paul Chan will look this week to cement the city’s tentative economic recovery and burnish its image as a global financial center while reining in the fiscal deficit.
How Hong Kong’s Richest Billionaires Made Their Money
Buoyed by an uptick in tourism and consumption, Hong Kong’s economy grew an estimated 3.2% in 2023. Even so the post-pandemic recovery has been slower than expected amid a stagnant property sector and ...
Shein considering London IPO amid US resistance to listing
HONG KONG - Fast-fashion company Shein is considering the possibility of switching its initial public offering (IPO) to London from New York because of hurdles to the listing in the United States, ...
Hong Kong Consults on Proposed Regulations to Prudential Treatment of Cryptoasset Exposures
This blog post summarises the proposed regulations set out in the Consultation Paper as well as next steps for banks, known in Hong Kong as authorised institutions (AI). The HKMA is a member of the ...
Wall Street gets its biggest investment-banking shakeup in years. Here are the key players making moves.
In addition, Filippo Gori — who has been with the bank since 1999 and is relocating from Hong Kong to London as part of the announcement — will become the bank's new CEO of Europe, the Middle East, ...
Microsoft offers AI solutions to Hong Kong insurer FWD in new 4-year partnership
Microsoft has extended its partnership with Hong Kong insurance provider FWD, with a four-year agreement, as companies race to integrate cutting-edge AI technology into their products and services.
1MDB trial: MACC investigator says Switzerland, Barbados, HK didn’t cooperate over bank employees’ interviews
MACC Senior Superintendent Nur Aida Arifin, the 49th prosecution witness in Datuk Seri Najib Razak’s trial over the misappropriation of RM2.27 billion of 1MDB’s funds, confirmed that all the documents ...
Greater Bay Area: HSBC, Standard Chartered increase Wealth Management Connect products amid drive to promote cross-border investment
Banks in Hong Kong including HSBC and Standard Chartered Bank are rolling out more products tied to the Wealth Management Connect scheme amid a drive by Beijing to boost the Greater Bay Area’s ...
Hong Kong’s BEA launches WMC 2.0 Southbound services
WMC 2.0 expands investment opportunities southbound, providing BEA and its China business, BEA China, to offer expanded services. Under the WMC 2.0 scheme, the eligibility for Chinese mainland ...
HSBC HOLDINGS Buys back ~5.77M Shrs for $342M Last Fri
HSBC HOLDINGS (00005.HK) +0.050 (+0.084%) Short selling $1.01B; Ratio 49.017% announced that it repurchased a total of 5.7699 million shares of the company last Friday (23rd) in the UK and Hong Kong ...
Hong Kong’s rainy day Future Fund now makes up biggest share of city’s dwindling reserves, sparking calls from experts for prudence
Structural change in fiscal reserves suggests government more likely to dip into Future Fund earlier than expected, economists say Fund must be used prudently or it will be in danger, academic warns ...
Hong Kong banks to see bumpier year
HONG KONG: While Hong Kong banks have reaped the benefits of rising interest margins in 2023, experts are warning of tough times ahead for the sector, as economic uncertainties are expected to lead to ...
Hong Kong prepares transition finance framework to support development as an international green finance hub
The city will refer to what others are doing so that there are not too many differences in the transition taxonomy between banks in different jurisdictions: HKMA deputy CEO Darryl Chan Prototype will ...
New fraud victim every 13 minutes: Hong Kong police Scameter app upgraded to send pop-up alerts amid HK$5.5 billion in tech-related losses
Reported scam losses hit HK$5.49 billion last year with fraudsters changing methods to trick victims Police hope people will report suspicious numbers and web links to help expand Scameter app ...