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Financial regulation

Financial regulation
Key developments in regulation of financial markets with a focus on those in Hong Kong and mainland China.
A woman walks past a currency exchange shop in Causeway Bay with a bank vault painted on its gate on May 5, 2024. Photo: Jelly Tse
Digital currencies

Opinion | How Hong Kong can win race to become world’s tokenisation hub

The question is not whether tokenisation will reshape finance but who will shape it. Hong Kong’s strategy sets it apart from the pack.

Hong Kong economy

Hong Kong striving to create favourable environment for stablecoins: Paul Chan

Hong Kong economy

Editorial | Payment Connect can boost Hong Kong as a hub for international finance

Digital currencies

Hong Kong sharpens crypto hub focus amid rising global competition

Hong Kong is seeking an early lead in stablecoins and tokenisation as Trump pushes the US to become the ‘crypto capital of the planet’.

Hong Kong is looking to take a lead in key areas of the digital asset industry, including stablecoins and tokenisation. Photo: Shutterstock
Digital currencies

Hong Kong makes public stablecoin adoption a top priority in digital asset push

The government is calling for new proposals to test stablecoin applications and make tax concessions for digital asset holdings.

Blockchain

Hong Kong Web3 group issues blueprint for accelerating blockchain development

Web3 Harbour, in collaboration with PwC Hong Kong, will launch five action groups in August on stablecoins, funds and other critical segments.

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Banking & finance

Mainland China, Hong Kong launching Payment Connect scheme to aid capital flows

‘Milestone’ programme links mainland China’s Internet Banking Payment System with Hong Kong’s Faster Payment System, simplifying cross-border payments.

Pan Gongsheng, governor of the People’s Bank of China, speaks on Friday at the launch ceremony for the Payment Connect programme with Hong Kong. Photo: PBOC
Banking & finance

Hong Kong to assess risks before launching yuan-pegged stablecoins

‘We need to align our considerations with national policymaking,’ Hong Kong’s treasury chief says at the Lujiazui Forum.

JD.com

JD.com founder bets on stablecoins to cut cross-border e-commerce payment costs

‘JD.com intends to secure stablecoin licences across key currency markets globally,’ founder and chairman Richard Liu says.

Banking & finance

Hong Kong to be Chinese companies’ launch pad in Shanghai pact

The two cities signed an agreement to strengthen the development of banking, insurance, financial derivatives and trade settlement.

The electronic display board at the Connect Hall in the Hong Kong stock exchange building on May 20, 2025. Photo: Xinhua
Digital currencies

Opinion | Hong Kong developing a yuan-pegged stablecoin would be a game changer

In a world of dollar-pegged stablecoins, the case for yuan-based alternatives – and what it means for the future of money – is compelling.

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An e-CNY logo at the China International Fair for Trade in Services (CIFTIS) in Beijing in 2021. A well-regulated yuan stablecoin issued from Hong Kong could serve as a strategic tool for China’s yuan internationalisation efforts. Photo: AP
Banking & finance

Macroscope | How the obsession with risky assets is putting global finance in peril

From the speculative frenzy over digital assets to the assault on bond markets, the next financial crisis will be self-inflicted.

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Hong Kong

InvestHK pivots to support Hong Kong start-ups’ global growth

After 25 years promoting the city as an investment destination, InvestHK is now championing Hong Kong companies’ overseas expansion.

Ant Group

Ant International and Ant Digital to seek stablecoin licences in Hong Kong

The two Ant units’ move aligns with its global ambitions as other companies, including rival JD.com, line up to issue fiat-backed cryptocurrencies.

Ant International is one of the largest tech firms yet to announce its intention to issue a stablecoin in Hong Kong. Photo: Ant International
Blockchain

With early stablecoin law, Hong Kong looks to keep edge as finance hub

Hong Kong is looking to ‘secure a leading role in global payment systems’, one analyst says, as law comes ahead of a similar US stablecoin bill.

A view of Hong Kong’s central business district on October 9, 2024. Some analysts see the city’s new stablecoin law as providing advantages for maintaining its position as a finance hub. Photo: May Tse
IPO

China may let Hong Kong-listed firms raise funds in Shenzhen via ‘H + A’ IPOs

The reversal of the usual A + H approach could help firms expand in the Greater Bay Area and encourage more Hong Kong IPOs, analysts say.

Digital currencies

Hong Kong law creates firm foundation for stablecoins

Hong Kong’s strict licensing and reserve requirements could help pry China off the crypto sidelines and loosen the US dollar’s grip on global financial markets.

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Hong Kong economy

Opinion | With stablecoin law, Hong Kong is reasserting its financial supremacy

While rivals like Singapore hedge their regulatory bets, Hong Kong is betting that institutional investors value clarity and transparency.

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Hong Kong’s new stablecoin regulation plugs into the broader digital infrastructure the city has quietly built. Photo: Shutterstock
Banking & finance

Step aside Shanghai, Hong Kong is China’s prize financial hub

Despite calling the two cities twin engines for finance, Beijing’s actions favour Hong Kong as China’s one true global funding hub.

Digital currencies

Hong Kong’s stablecoin law to take effect in August

The stablecoin ordinance passed in May takes effect on August 1, requiring issuers to be licensed by the Hong Kong Monetary Authority.

Hong Kong economy

Editorial | It will pay Hong Kong’s workers to check their savings after MPF shake-up

Much-criticised Hong Kong retirement scheme charges lower fees since switch to electronic platform and will offer greater flexibility.

A cleaning worker is seen in Tsim Sha Tsui. Photo: Jelly Tse
Blockchain

‘A huge win for crypto’: US dismisses lawsuit against Binance

The dismissal marks a dramatic shift in the SEC’s regulatory stance on cryptocurrency under US President Donald Trump.

The US SEC has dropped its enforcement case against cryptocurrency exchange Binance. Photo: Reuters
Blockchain

OKX sees tipping point for blockchain tech amid rising crypto sentiment

OKX chief commercial officer Lennix Lai says the exchange is focused on building compliant services in the US and Singapore, among other markets.

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Digital currencies

Hong Kong’s crypto industry optimistic about stablecoin ‘legal clarity’

Animoca chairman Yat Siu said Hong Kong has ‘leapfrogged’ the US with its new stablecoin law, but experts warn of high short-term costs.

China’s crackdowns

China’s internet watchdog cracks down on false financial claims, stock touting

Top cybersecurity agency shuts down more than a dozen social media accounts amid growing concerns over finance influencers.

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An electronic board shows Shanghai and Shenzhen stock indices as people cross a pedestrian bridge in Shanghai on April 3. China’s top internet watchdog is targeting social media accounts that spread false information about the capital markets. Photo: Reuters
Hong Kong Monetary Authority (HKMA)

Hong Kong passes stablecoin law, clearing way for sales to public

Law sets up a ‘risk-based, pragmatic, and flexible regulatory regime’ with public protection in mind, head of city’s monetary authority says.

A view of Hong Kong’s Legislative Council Complex at Tamar in Admiralty on March 8, 2024. Photo: Jelly Tse
Hong Kong economy

Opinion | Cryptocurrencies are emerging as ‘digital gold’ in a shaky world economy

Demand is growing for borderless, neutral financial tools in a fragmenting world economy, with rising tariffs and alliances under strain.

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Banking & finance

China to spur Nansha as Greater Bay Area’s third financial hub

Latest measures follow efforts since 2023 to build up Qianhai and Hengqin in southern Guangdong province, and foster ties with Hong Kong.

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