London, Nov 28 (IANS): HSBC is facing a "hit" of more than £6.3 billion as a result of unsecured commercial property loans into China, a UK-based tax consultant has warned, a media report said.
HSBC, Hang Seng Join China’s Digital Yuan Pilot
The international banking giants HSBC and Hang Seng Bank have joined China’s digital yuan pilot. 21st Century Business Herald reported that a group of “four foreign banks” have “officially announced ...
Hong Kong financial institutions bullish on tech
However, Hong Kong has the highest proportion of financial institutions, Finastra notes, that have not been constrained at all (30%) behind Saudi Arabia (34%). Of those whose organizations have been ...
China will focus on ‘high-quality, sustainable growth,’ central bank chief says
China’s central bank governor says the world’s second largest economy is continuing to recover, and is on track to meet its 5% expansion target this year.
Executives at international firms Deloitte, KPMG advised to use burner phones for Hong Kong visits – report
The news comes amid Hong Kong’s effort to reassert itself as a global financial centre that leverages its One Country, Two Systems framework, just weeks after the city’s de facto central bank, the ...
Former PBOC Governor Confirms China Is ‘On Track’ For Completion Of Central Bank Digital Currency
China’s central bank digital currency (CBDC) development is in its final stages, according to the former governor of the People’s Bank of China (PBOC), indicating a significant stride towards the ...
HSBC hires senior private banking executive from UBS to serve wealthy Indians
HSBC Holdings Plc has reportedly hired a senior private banking executive from UBS Group AG where he ran a team serving wealthy Indians who live overseas. Gautam Anand was appointed Global Coordinator ...
Hong Kong Property Market Enters A Great Stagnation
A tussle over valuations between the city’s property developers and the government has resulted in a stalemate that dampens Hong Kong’s economic prospects.
Hong Kong stocks slide to near 3-week low on earnings, China economic woes while small-caps suffer 5% rout in Beijing
Hong Kong stocks fell to near a three-week low on concerns corporate earnings will disappoint investors amid China’s economic slowdown and property market slump. Reports this week may show Chinese ...
Hang Seng May See Renewed Support
The Hong Kong stock market on Friday ended the two-day winning streak in which it had collected almost 180 points or 1.1 percent. The ...
Hong Kong stocks fall, China struggles amid weak recovery, sentiment
Other Asian stocks edged higher, while the dollar was at a three-month low as investors remained convinced that the U.S. Federal Reserve was done with its rate-hike cycle and looked ahead to a crucial ...
Members of Hong Kong pro-democracy party League of Social Democrats face 26 charges over fundraising, banners
Ten members of the League of Social Democrats (LSD), one of Hong Kong’s last active pro-democracy groups, face a total of 26 charges for raising funds and displaying posters without a permit. LSD ...
The Judge behind China’s financial reckoning
Judge Linda Chan presides over an unprecedented wave of Chinese corporate defaults, holding real estate giants like Evergrande accountable. Chan's courtroom decisions, pushing for creditor recovery ...
BoE leads central bank chorus on need for restrictive policy
A top UK central banker on Tuesday emphasised that monetary policy would need to be "restrictive" for some time to defeat inflation, a message echoed by fellow policymakers from Australia and ...