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Banking & finance

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Banking & finance
News about the global financial industry with a focus on developments in Hong Kong and China.
Hong Kong banks including HSBC have been expanding in the Middle East in recent years. Photo: Jelly Tse
HSBC

Hong Kong banks face limited Middle East risk but tensions cloud expansion plans

HSBC and Standard Chartered expanded in the Middle East in recent years to capture growing cross-border trade and wealth management flows.

Venture capital market

China’s state-led venture capital revival risks losing momentum

Hong Kong economy

Hong Kong unveils incentives to attract gold refiners and boost global hub plan

Family offices

Middle East tensions set to strengthen Hong Kong as a gold and wealth hub

Expanding gold vault capacity and new tax incentives for family offices are part of Hong Kong’s broader push to attract global wealth.

The Hong Kong Gold Exchange kicked off the Year of the Horse with its traditional Lunar New Year opening ceremony in Sheung Wan. Photo: Dickson Lee
Central banks

How China’s sovereign debt is becoming a real alternative to US Treasuries

Beijing is now offering dollar-denominated sovereign bonds at rates matching equivalent US Treasuries – and investors are snapping them up.

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Hong Kong economy

Editorial | Hong Kong is a beacon of stability for global talent and capital

In an increasingly uncertain world, Hong Kong, backed by the country, continues to be a safe place for investment and opportunities.

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US, Israel war on Iran

Global stock sell-off slams Wall Street as oil prices leap on Iran war woes

The Dow ended down 403 points, after plunging over 1,200 earlier in the day.

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A display featuring Iran’s slain supreme leader Ayatollah Ali Khamenei in Tehran on Tuesday. Photo: AFP
Hong Kong tourism

Hong Kong convention centre to host more medical, tech, finance, education events

Events linked to these four sectors will account for 43 per cent of activities held this year, venue’s managing director says.

IPO

HSBC chairman floats ‘IPO connect’ for Hong Kong, Shenzhen listings

Modelled on Stock Connect, the proposal would give investors in the Greater Bay Area cross-border access to new share listings.

Hong Kong property

Can HKIC fix Hong Kong’s 15 million square-foot office vacancy problem?

Attracting foreign institutions might prove difficult amid the commercial property sector’s elevated vacancy rates and uncertain recovery.

A general view of prime commercial buildings in Hong Kong’s Central district. Photo: UCG/Universal Images Group via Getty Images
Two Sessions 2026

How China is using its economic clout to give the US dollar a run for its money

Beijing is using economic clout to reshape its global financial influence – a strategy analysts say could play out over decades.

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Illustration: Lau Ka-kuen
Fintech

Hong Kong, Shanghai sign pact on digital trade finance, cross-border data link

‘This marks an important milestone in the collaboration on financial innovation between Shanghai and Hong Kong,’ HKMA’s Howard Lee says.

Hong Kong

Hong Kong’s new cash-for-residency scheme draws US$12 billion in first 2 years

Number of applicants surges in second year, with most of the deployed capital going into authorised funds, equities and debt securities.

HSBC

HSBC signals intent to join Hong Kong’s stablecoin regime amid digital hub push

Georges Elhedery declined to confirm whether HSBC applied for stablecoin licence but indicated that discussions with regulator were ongoing.

HSBC CEO Georges Elhedery poses for a photograph in Hong Kong on February 26, 2026. Photo: Jonathan Wong
Hong Kong stock market

The big cornerstone comeback: what’s driving investors back to Hong Kong IPOs?

After four subdued years, the cornerstone investors that anchor Hong Kong’s IPO market are returning in force, reshaping the deal landscape.

Illustration: Lau Ka-kuen
Hong Kong budget 2026-27

Opinion | Hong Kong’s fiscal surplus is cause for celebration, not complacency

More creative strategies are needed to secure the city’s long-term liquidity amid an ageing population and increased infrastructure spending.

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Mainland China

‘Stability risk’: US faces rising concern as global debt soars to record high

Global debt accumulation ‘accelerated sharply’ in 2025, driven by surging investment in the US, China and Europe, report finds.

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Yuan

As the yuan sizzles, China’s central bank deploys double-barrelled policy tweak

Regulators refine cross-border rules and cut the foreign exchange risk reserve ratio for forward forex sales to zero, aiming to provide stable offshore liquidity and help firms manage risks.

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The People’s Bank of China has rolled out a pair of measures to lower foreign exchange hedging costs and support cross-border yuan financing. Photo: Shutterstock
Hong Kong property

New World reports loss as deleveraging takes priority, dividend suspended

Developer keeps dividend suspended, rules out equity fundraising for now as Hong Kong sales rebound.

Hong Kong budget 2026-27

Hong Kong records HK$2.9 billion consolidated surplus for 2025-26. Here’s how

Economists optimistic for 2026-27, pointing to stabilised property market and transfer of finances between government funds or accounts.

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Hong Kong property

Hong Kong banks’ collateral asset valuations to continue declining in 2026: S&P

The city’s commercial property market remains on a sustained downturn, as rents continue to fall and vacancy rates soar.

A general view of the skyline in Hong Kong’s Central district. Photo: Jelly Tse
Yuan

China adviser sees bright future for yuan payment system in emerging economies

Former ICBC chairman Chen Siqing says alternatives needed due to risk of financial weaponisation in US dollar-centric world.

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China’s domestically developed Cross-border Interbank Payment System offers clearing and settlement services for cross-border yuan transactions. Illustration: Shutterstock
Hong Kong budget 2026-27

Editorial | Budget sets Hong Kong up for its next phase of growth

The city’s improving economy and public finances have enabled a raft of tax allowances and concessions, but a volatile global environment means sustaining fiscal discipline remains critical.

Mainland China

South Korean investors pour millions into Chinese AI and tech stocks

Despite a sizzling home market, the country’s investors are stepping up buying on the Hong Kong and mainland exchanges this year.

Hong Kong budget 2026-27

Hong Kong seeks to hone edge as offshore yuan hub, digital-asset front runner

Market participants largely welcome Paul Chan’s renewed push to strengthen Hong Kong’s position as an international financial centre.

Hong Kong’s renewed push to strengthen its position as an international financial centre has been welcomed. Photo: Felix Wong
ByteDance

ByteDance valuation said to hit record US$550 billion in proposed equity sale

Pending sale by US private equity firm General Atlantic shows ByteDance’s valuation has surged from US$400 billion as recently as mid-2025.

The ByteDance logo is seen at the company’s office building in Shanghai, on July 4, 2023. Photo: Reuters
China manufacturing

A boat in every dock? Chinese billionaire unveils plan for mass yacht production

JD.com founder Richard Liu has launched a nautical brand with a massive investment in yacht production, aiming to make ownership affordable.

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Hong Kong budget 2026-27

‘Steady as she goes’ as Hong Kong bids farewell to deficits

Financial Secretary Paul Chan pledges caution as he presents budget aimed at stoking growth and innovation.

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