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The lastest news on KPMG, including company news, top stories and updates.
Customers shop for skincare products at a duty-free shopping mall in China’s southern Hainan province. China has opened up to more duty-free retail in recent years, reducing the need for Chinese tourists to splash out while abroad. Photo: Getty Images
China travel

‘Structurally hurt’: why are Chinese tourists spending less abroad than before?

China’s outbound travel sector has bounced back from the pandemic, but the era of duty-free shopping sprees appears to be over.

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Singapore

Singapore businesses list rising costs and tariffs as their biggest challenges

China travel

China’s service sector shines as holidaymakers eye bespoke adventures with pets

Hong Kong economy

Editorial | Hong Kong’s IPO market rings in 2026 on a high note

The city catapulted itself into the global top spot for initial public offerings in 2025, with another strong pipeline of listings expected this year.

Bonnie Chan Yiting (centre), CEO of Hong Kong Exchanges and Clearing, with (left to right) Li Yi, chairman of Beijing 51WORLD Digital Twin Technology; Alex Zhavoronkov, chairman and CEO of Insilico Medicine; Li Zhichen, chairman and CEO of OneRobotics (Shenzhen); Sun Laichun, chairman of Shanghai Forest Cabin Cosmetics Group; Geng Dawei, executive director and general manager of Shenzhen Xunce Technology; and Brian B.Y.Chen, chairman of USAS Building System (Shanghai). The six companies began trading on the Hong Kong exchange on December 30. Photo: Sun Yeung
IPO

Insilico Medicine leads 6 Hong Kong IPOs, capping banner fundraising year

Debutants raise total of US$899 million as exchange wraps up one of the most active months for IPOs since 2021.

Accounting and auditing

Hong Kong accounting firms plan hiring spree and embrace AI to attract talent

KPMG, Deloitte and EY boost hiring and invest in AI to lift efficiency and attract talent amid rising demand for tech-savvy professionals.

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Banking & finance

Global firms turn to M&A in EVs and biotech to deepen China investment: KPMG

Survey of multinational corporations finds optimism in life sciences, healthcare and manufacturing, with half forecasting revenue growth.

Healthcare and life sciences are the top growth prospects over the next three to five years, according to multinational corporations. Photo: Xinhua
Banking & finance

Hong Kong taps Value Partners, 9 others to manage US$385 million residency fund

Government investment arm HKIC also names Primavera among managers of CIES IP, which focuses on Hong Kong’s long-term development.

Banking & finance

JPMorgan, DBS, Standard Chartered bosses swap deals for sneakers in charity run

Chairmen and CEOs join regulators and financiers in The Community Chest HKEX Gong Run to raise US$1.2 million.

Asean

Widodo hails Southeast Asia’s rise as ‘global force’ in entrepreneurship

Former Indonesian leader says the next unicorn could emerge from Southeast Asia and urges the region to prepare for an ‘intelligent economy’.

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Joko Widodo, Indonesia’s former president, has urged Southeast Asian countries to prepare for an “intelligent economy”. Photo: dpa
Malaysia

Malaysia’s start-ups shiver through a venture capital deep freeze

Global risk capital has fled Asia, with the region’s entrepreneurs left to fight over a dwindling pool of funds.

Malaysia’s national flag is seen next to a sculpture at a snow festival in Japan. Asia faces a venture capital “winter”. Photo: AFP
China property

How China’s ‘emotional spending’ trend is transforming shopping malls

Pop Mart takes over prime spots once reserved for high-end luxury brands as retail landlords scramble to adjust to changing consumer habits.

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Wealth management

Hong Kong roars ahead as top wealth hub, overtaking Singapore

Nearly 45 per cent of top global private banks say their affluent clients prefer Hong Kong over other wealth management centres: PWMA report.

HKEX

Hong Kong’s women leaders drive finance talent and economic growth: Paul Chan

Nearly 60 per cent of business students are women – and they are the future fintech innovators and next-gen CEOs, financial secretary says.

Women Chief Executives Hong Kong (WCE HK) host its first Women Chief Executives Summit (WCE Summit) at the HKEX Connect Hall on November 3. Photo: Sun Yeung
Women and gender

Editorial | Women’s leadership in finance affirms Hong Kong’s commitment to diversity

While there is still more work to be done, the city has made considerable progress on advancing gender equality in the financial sector.

Members of Women Chief Executives Hong Kong gather with Financial Secretary Paul Chan Mo-po on May 9. Photo: Handout
Hong Kong society

Opinion | Hong Kong must do more to empower women in the workforce

Women are shattering the glass ceiling, but the city has a long way to go to truly be a leader in workplace gender equality.

Jobs

Global companies ratchet up job cuts amid weak sentiment, AI push

The occupations most likely to be affected would be where entry-level work is replaced with automation, Bank of America economists say.

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Banking & finance

Glass ceiling shattered: 45% of top Hong Kong financial sector roles go to women

Regulatory changes and shifting corporate culture drive up the number of women taking up senior positions and directorships, a report says.

Diversity in Hong Kong feels organic, not imposed, says Amy Lo, who heads UBS Global Wealth Management Asia. Photo: Winson Wong
Banking & finance

Hong Kong set for IPO flurry next week with Sany leading the charge

Shares of China’s biggest construction machinery manufacturer will debut on October 28, alongside three other new stocks.

China food security

‘Extremely dangerous’: why China’s 5-year plan will double down on food security

Beijing has made huge strides in its self-sufficiency push – but trade tensions, climate risks and supply-chain shocks keep fears alive.

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Hong Kong racing

Mo slots running double, while Sky Trust continues hot form of Fownes and Wong

Motor and the heavily-backed Emblazon hand trainer a race-to-race brace as veteran handler and apprentice strike again.

Cody Mo is all smiles after a race-to-race double at Sha Tin. Photos: Kenneth Chan
IPO

Editorial | IPO allotment rule changes make market healthier as a whole

Retail investors not being able to buy hot stocks until after prices have settled following an IPO is not necessarily a bad thing.

Woman check their phones in front of an electronic signboard showing the the Hang Seng Index in Hong Kong on July 11. Photo: AFP
Wealth Report

Chinese AIs fuel interest in Hong Kong IPOs

15 IPOs were announced in the city in the first quarter of 2025, according to KPMG, 6 of which raised more than HK$1 billion – many of these were tech companies.

IPO

Hong Kong IPOs gather speed with 2025 proceeds to reach US$32 billion: KPMG

As many as 130 companies could raise US$32 billion in proceeds by December, based on the top end of KPMG’s forecast.

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IPO

Chinese firms eye Hong Kong listings after mainland investors’ buying spree

Surging mainland buying interest has led to a growing number of A-share companies seeking dual listings in Hong Kong.

Mainland-listed Chinese firms are preparing for dual listings in Hong Kong amid a record surge in buying interest from Chinese investors. Photo: Jonathan Wong
Banking & finance

Hong Kong banks can leverage AI and trade changes to fuel growth: KPMG

Hong Kong banks’ total assets rose 4.5 per cent year on year to US$3.1 trillion in 2024, while operating profit was up 7.8 per cent.

Hong Kong’s move to build the city into a virtual asset hub should be a boon for banks, KPMG says. Photo: Sam Tsang
Banking & finance

US venture capital firm to unload stakes in 40 Chinese tech start-ups

Chinese venture capitalists, government-backed funds expected to fill a funding gap left by retreating international investors, analyst says.

IPO

Green Tea makes tepid Hong Kong debut as IPO frenzy takes a pause

Shares of the restaurant chain began trading at HK$7.19 per share, before plunging 7 per cent to an intraday low of HK$6.69.

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