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Chad Bray
UK Correspondent
Chad is a UK correspondent reporting on issues ranging from business to Sino-British relations. He joined the Post in 2018 as a senior business reporter focused on finance. He has previously written for The New York Times, The Wall Street Journal and Dow Jones Newswires.
Hui Ka-yan, founder and chairman of the troubled developer, rode a wave of market reforms to amass a vast empire that included China’s richest football club, a superyacht and reportedly the most expensive home in London.
The troubled developer said its founder faces so-called mandatory measures due to ‘suspicion of illegal crimes’, hours after shares of three entities in the group were halted from trading in Hong Kong on Thursday.
In the second of a two-part series on the crisis surrounding Country Garden, we look at how a company considered one of China’s most stable developers is now struggling to navigate a slumping property market, a sluggish economy and changing demographics in the smaller cities that have fuelled its growth.
The parliamentary researcher had access to sensitive materials because of his work with Conservative MPs on China policy.
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London is the latest international office opened by Hong Kong Exchanges and Clearing (HKEX) as it seeks to expand its global footprint.
In the first of a two-part series on the crisis surrounding Country Garden Holdings, we look at the developer’s liquidity problems and why a default could inflict more damage on China’s housing market than China Evergrande two years ago, particularly in third and fourth-tier cities.
The visit expected to take place next Tuesday or Wednesday will be a key test of Rishi Sunak’s attempts to ‘evolve’ British policies towards China
HSBC’s pre-tax profit was US$8.77 billion, ahead of US$7.96 billion expected by analysts, as it benefited from a strong interest rate environment.
Standard Chartered’s pre-tax profit was US$1.52 billion in the second quarter as it beat a consensus estimate of US$1.37 billion.
Higher interest rates are expected to help drive profit gains at big Hong Kong lenders, including HSBC and Standard Chartered, in second quarter as US Federal Reserve prepares to hikes rates further.
Beijing’s aspirations to become an economic and technological superpower pose the ‘greatest risk’ to the UK, according to a long-awaited parliamentary report.
Judicial review of London Metal Exchange’s decision to cancel trades in March 2022 has potential to dramatically reshape how bourses respond to extraordinary market events in the future.
HSBC will move to smaller offices in the City of London ahead of its lease expiring in 2027, as it looks to cut costs as more of its staff embrace hybrid working.
The London Metal Exchange was forced to step in to stabilise the nickel market in March 2022 as chaos in the market put several members at risk of default and would have depleted the bourse’s fund to close out defaulted members’ positions, the bourse’s lawyer said.
HKEX-owned bourse made ‘irrational’ decision to cancel trades amid nickel market chaos on March 8, 2022, Jane Street lawyer said.
A judicial review in London is considering claims by Elliott Associates and Jane Street Global Trading that they were disenfranchised by LME’s response to chaos in the nickel market.
The HKEX-owned bourse faces lawsuits from US hedge fund Elliott Associates and quantitative investing firm Jane Street Global Trading over its decision to suspend trading and cancel nickel trades in March 2022.
HSBC will retain US$7.6 billion in loans as part of a revised transaction to sell its French business after completion of the deal appeared ‘less certain’ in April.
Vodafone will own 51 per cent of the joint venture, which will combine its domestic mobile business with CK Hutchison’s Three UK operations and create Britain’s largest mobile provider in a deal worth US$15.7 billion.
HSBC’s Asia operations are ‘motoring’ as the lender looks to future growth from its biggest revenue driver, but will the bank’s improved performance and promises of bigger dividend payout be enough to satisfy unhappy investors?
James Turner had been the Asia-focused insurer’s chief financial officer since 2022, but ‘fell short’ of company standards in a recent recruitment situation, Prudential said.
The UK’s Competition and Markets Authority has provisionally found that five big banks including HSBC shared “competitively sensitive” information about British government bond trades.
The 146-year-old metal trading bourse is doing something every day to earn investors’ trust, CEO Matthew Chamberlain says. This includes a two-year action plan to revive its markets.
The bourses, both owned by Hong Kong Exchanges and Clearing, are together studying the possibility of offering investors the chance to buy and sell contracts of lithium carbonate, nickel sulphate and cobalt, said Dong Feng, general manager of the QME.
CK Hutchison’s Wind Tre will transfer its active network equipment and wholesale mobile and wholesale fixed communications services business in Italy to the new company, which will have an enterprise value of US$3.7 billion.
PCAOB said it found significant deficiencies in first review of audits of mainland Chinese firms listed in the US, although issues are not expected to affect status of firms listed there.
At 74, King Charles is the oldest person to ascend to the throne in British history.
King Charles was crowned on Saturday in Britain’s biggest ceremonial event for seven decades, with a display of pageantry dating back 1,000 years.
A group of minority shareholders had called for the bank to consider radical change, including spinning off its Asia business. HSBC’s biggest shareholder Ping An Insurance Group has also been pushing the lender to make changes to enhance shareholder value.
