AIIB benefits financial sectors

Hong Kong’s professional and financial services sectors will benefit from the Asian Infrastructure Investment Bank’s operations. Acting Secretary for Financial Services & the Treasury James Lau made the statement to legislators today, saying Hong Kong ... ( read original story ...)

HKMA fines Coutts HK$7m for breaching money laundering rules

The bank also did not do sufficient due diligence before establishing a business relationship with customers. Hong Kong clients can pick banks with varying compliance rules In deciding the disciplinary action, the authority considered “it needed to send ... ( read original story ...)

Hong Kong slaps property tax to close loophole

He emphasized the government's efforts in raising housing supply, while financial secretary Paul Chan said he expects the potential supply of new flats in Hong Kong over the next three to four years to exceed the December estimate of 94,000 units ... ( read original story ...)

Hong Kong's Central Bank is Trialing a Digital Currency

Hong Kong's de facto central bank is developing a prototype digital currency. The disclosure came in a Hong Kong legislative document published by the Legislative Council Panel on Financial Affair this week and dated 18th April. According to the note, the ... ( read original story ...)

Hong Kong No Longer Top IPO Destination

New York has displaced Hong Kong as the world’s top destination for initial public offerings (IPOs) of stock during the first three months of 2017. A lack of major stock offerings sent Hong Kong—the main Stock Exchange of Hong Kong (HKEX) and the ... ( read original story ...)