Wealth inequality drops by 6 per cent in past 15 years in Hong Kong, and academics say weakened property market and departures could be why.
Hong Kong, mainland Chinese regulators cooperate on probes of PwC’s Evergrande bookkeeping
China’s Ministry of Finance and Hong Kong’s audit regulators are assisting each other in their separate investigations of PwC’s audit work of the now-liquidated China Evergrande Group. “Under the ...
Hong Kong partially clears PwC of alleged deficiencies in Evergrande audits
In April, Hong Kong’s Accounting and Financial Reporting Council said it had opened a probe into PwC after an anonymous letter – titled “Who led PwC into the firepit that was Evergrande?” – was ...
Sichuan Biokin Pharma Files for $500 Million Hong Kong IPO
Sichuan Biokin Pharmaceutical Co. filed for a Hong Kong listing that could raise about $500 million, according to people familiar with the matter, making it one of the larger deals in the city’s ...
China’s financial sector is put on needed GDP diet
It's usually a red flag whenever China's bean counters "optimise" already questionable market indicators. However, the recent tweak to how the country calculates what the financial sector contributes ...
HSBC fined $3 mln over incentives given to unauthorised agents for MPF scheme
HSBC has been fined HK$24 million ($3.07 million) for offering incentives to "unregistered intermediaries" to get clients to join its Mandatory Provident Fund (MPF) scheme in 2020 and 2021, Hong ...
Hong Kong’s audit regulator says whistle-blower allegations against PwC not supported
Review of PwC’s internal investigation shows there is no evidence to support some of the allegations made by anonymous whistle-blowers, AFRC says.
HSBC HOLDINGS Reportedly Shaking up its I-bank
HSBC HOLDINGS (00005.HK) is reshaping parts of its investment bank and merging several of its industry coverage groups, Bloomberg quoted people familiar with the matter. These moves will purportedly ...
Cirrus Aircraft prices its stock midrange at HK$27.50 as pace of Hong Kong’s IPOs picks up
An aircraft assembler has priced its stock at the middle of a range in Hong Kong, becoming the first company of its kind to raise capital on the local exchange, as the city’s pace of fundraising picks ...
Hozon plans to use Hong Kong IPO as launching pad to fund export of its Neta electric cars
We look to grow bigger and stronger by localising our best technologies, products and services in markets worldwide,’ co-founder Fang Yunzhou says.
Two Hong Kong IPO debutants sink 15% as mood remains negative
SYDNEY (Reuters) -Two Chinese companies sunk by 15% in their Hong Kong initial public offerings (IPO) debuts on Wednesday, while a small Chinese petroleum refiner soared nearly 30% as sentiment ...
Hang Seng opens higher after Powell testimony
The Hang Seng Index rose just over 90 points ... might do more than he did to telegraph that a cut was on track for the central bank's September meeting. On the mainland, the Shanghai Composite Index ...
Chinese start-up Hozon eyes new overseas markets for Neta EVs after Hong Kong IPO
We look to grow bigger and stronger by localising our best technologies, products and services in markets worldwide,' co-founder Fang Yunzhou says Hozon New Energy Automobile, the Chinese start-up ...
HSBC fined S$4.15M for offering incentives to unregistered intermediaries in MPF scheme
SINGAPORE: HSBC, the largest lender in Asia, has been fined HK$24 million (approx. S$4.15 million) by Hong Kong’s Mandatory Provident Fund Schemes Authority (MPFA). The penalty stems from HSBC’s ...