Tag: banking

Chinese smartphone maker Xiaomi Corp submitted its IPO application in Hong Kong in early May. It was widely expected that the company will list in late June at the earliest and become the first Hong Kong-listed company with dual-share class structure. ( read original story ...)

Bank of China (BoC) arranged another innovative transaction in the market with the Hong Kong branch pricing on 31 May 2018 the first ever sustainability bond by a Chinese issuer amounting to HK$3 billion (US$384.60 million). At the same time, the BoC ... ( read original story ...)

When US insurer AIG fell into trouble at the peak of the financial crisis in 2008, Cheung took measures to limit any impact on Hong Kong’s almost 2 million policyholders, including banning the local unit, AIA, from shifting any money to the US parent ... ( read original story ...)

For Blancpain, 2018 marks the special anniversary of not one but two momentous occasions in the Swiss watchmaker’s history: the 65th anniversary of the iconic Fifty Fathoms model, and the 15th anniversary of the Blancpain Ocean Commitment (BOC ... ( read original story ...)

BOC Hong Kong added 0.77 percent, WH Group skidded 0.74 percent, Ping An Insurance gained 0.65 percent, China Mobile shed 0.21 percent and Hong Kong & China Gas was up 0.12 percent. The lead from Wall Street is weak as stocks moved mostly lower on Thursday ... ( read original story ...)

Hong Kong’s most senior financial official was in Dublin on Thursday to cement trading ties between the two jurisdictions and showcase the opportunities for Irish firms in Asia’s financial hub. Hong Kong’s financial secretary Paul Chan Mo-po met with ... ( read original story ...)

A Hong Kong government official has stated that there are no plans to issue a central bank digital currency, as the existing payment systems work just fine. Hong Kong will not currently issue a central bank digital currency (CBDC), citing the existence of ... ( read original story ...)

The Hong Kong Monetary Authority (HKMA), the region's de facto central bank, currently has no plan to issue a central bank digital currency (CBDC), a high-level government official said on Wednesday. During a council meeting with legislators in Hong Kong ... ( read original story ...)

Hong Kong top securities watchdog has slapped a hefty HK$3 million (US$382,200) fine on Hang Seng Bank’s investment arm for failing to meet regulatory requirements on the management of cash within its funds. It’s Hang Seng Investment Management’s ... ( read original story ...)

Following the completion of a public consultation, the Hong Kong Monetary Authority (HKMA) on Wednesday published a revised “Guideline on Authorization of Virtual Banks”, saying it expects to receive applications for virtual bank licenses by August 31. ( read original story ...)

Strong regulatory support from MAS buoyed the lion city to score the APAC crown. Singapore easily beat Hong Kong and Australia in its readiness for open banking, according to a report by the International Data Corporation. The report assesses a country's ... ( read original story ...)

Hong Kong’s monetary authority is moving to issue its first batch of virtual bank licenses as soon as the end of this year in a push to tap into smart banking and fintech expansion. The Hong Kong Monetary Authority, the special administrative region’s ... ( read original story ...)

The Hong Kong Government has made it clear that it has no plan to issue official Digital Currency at present but will continue to explore the possibilities. This was stated by Joseph Chan, Acting Secretary for Financial Services and the Treasury, in the ... ( read original story ...)

The Hong Kong Monetary Authority (HKMA) has received more than 50 expressions of interest for virtual banking licenses, which require a minimum capital of HK$300 million. However, the central bank has rejected a recommendation from a public consultation ... ( read original story ...)