Chinese electric vehicle (EV) manufacturer Hozon New Energy Automobile Company this week said it has raised CNY7bn (US$960m) in a pre-initial public offering (IPO) financing round, the first inflow of ...
Hong Kong’s life insurance sales to Chinese visitors return to pre-Covid levels as weaker yuan, rate gap drive the search for yield
Life insurance sales to mainland Chinese visitors hit HK$31.9 billion (US$4 billion) in the first half versus HK$540 million a year earlier, as they sought refuge in the city’s diverse products amid a ...
Hong Kong’s life insurance sales to mainland Chinese visitors return to pre-Covid levels as weaker yuan, rate gap drive the search for yield
Life insurance sales to mainland Chinese visitors hit HK$31.9 billion (US$4 billion) in the six months to June versus HK$540 million a year earlier Overall new life insurance sales in Hong Kong rose ...
Hong Kong Warns Saola May Disrupt Trading as City Braces for Super Typhoon
(Bloomberg) — Hong Kong warned it may effectively shut down the city, including its $5 trillion stock market, on Friday because of Super Typhoon Saola, which is approaching the financial hub after ...
Hong Kong stocks advance as persistent slump in Chinese manufacturing spurs bets on bigger policy response
Stocks advance, limiting a decline in August, on bets China will do something more drastic to arrest a slump in manufacturing. The economy is in need of a stronger stimulus tonic, economists have said ...
Bank of China first-half profit rises 0.8%
Bank of China (BoC) , the country's fourth-largest bank by assets, reported on Wednesday a 0.78% increase in net profit for the first half of this year. Profit was 120.1 billion yuan ($16.46 billion) ...
Hong Kong’s first SPAC merger: Chinese steel website ZG Group set to combine with blank-cheque firm Aquila Acquisition
Chinese steel trading website ZG Group, formerly known as Zhaogang.com, will combine with Hong Kong-listed Aquila Acquisition. The merged entity will be valued at US$1.3 billion.
Climate change: Net zero organisation GFANZ to open Hong Kong chapter to support Asia’s green finance development
The Glasgow Financial Alliance for Net Zero (GFANZ), the world's largest coalition of financial institutions committed to the goal of net zero emissions by 2050, will open a chapter in Hong Kong to ...
HSBC Buys Back Over 4.65M Shrs for $277M Ytd
HSBC HOLDINGS (00005.HK) announced that it repurchased a total of 4.6504 million shares in the UK and Hong Kong markets yesterday (16th), involving a total of HK$277 million.Of the... HSBC HOLDINGS ...
Bank of China says some regional LGFVs have defaulted
HONGKONG : The Bank of China said on Wednesday that some regional local government financing vehicles (LGFV) have defaulted and the lender's asset quality has deteriorated. Chief Risk Officer Liu ...
Chinese banks ICBC, BOC post sluggish profit growth
BEIJING/SHANGHAI/HONG KONG (Reuters) -Two of China's biggest banks on Wednesday ... Industrial and Commercial Bank of China Ltd (ICBC), the country's biggest lender, said in a filing its net profit ...
Hong Kong stocks gain as HKEX, Longfor rally amid market-boosting measures while Xiaomi lifts earnings optimism
Stocks sustain a rally as HKEX and Longfor lead gainers amid bets on more market-boosting measures. Investors are turning less bearish as policymakers begin to address a slump in confidence.
Crypto Bank Seba Wins In-Principle Approval to Operate in Hong Kong
Seba, a crypto bank based in Switzerland, said it won approval-in-principle (AIP) from Hong Kong's Securities and Futures Commission (SFC) for its regional subsidiary as it looks to extend its ...
Chinese EV start-up Hozon raises US$960 million in pre-IPO financing, looks to expand footprint at home and abroad
Shanghai-based carmaker did not name the investors in the crossover funding round, its first capital raise since July 2022 Hozon, also known as Neta Auto, is also seeking to raise US$1 billion via a ...