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Enoch Yiu
Chief Reporter, Business
Enoch joined the Post as a business reporter in 1996. Before that, she worked at a Chinese daily newspaper for four years. She is the author of two books: 'They Mean Business: 50 exclusive interviews with Hong Kong top executives' and 'Serving with Passion: stories of established catering brands in Hong Kong'.
Hong Kong is particularly appealing to wealthy families from mainland China and Southeast Asia to set up family offices, Dennis Chow says.
Companies have traditionally given staffers lai see packets on the first working day of the Lunar New Year.
HSBC and other major banks will only announce their interest-rate decisions on Monday, the first working day of the Lunar New Year.
With 1.43 million mainlanders expected during the ‘golden week’, the city’s lenders prepare a slew of enticements.
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HSBC and ICBC (Asia) promote milestones using lai see envelopes, while the newly rebranded Hong Kong Gold Exchange sends out 60,000 red packets.
The price of the precious metal, which jumped 35 per cent in the Year of the Dragon, is expected to maintain its elevated trajectory.
City’s economy is likely to grow between 2.5 and 3 per cent, ANZ chief economist Raymond Yeung says.
The fund’s return fell 3 per cent in 2024 to HK$219 billion (US$28 billion) due mainly to a loss of HK$20.1 billion in the fourth quarter.
A&P Macau Patacas Money Market Fund will soon be offered to mainlanders in the Greater Bay Area.
Sterling returns during the Year of the Dragon will be hard to repeat, with US-China trade relations as an X factor, according to experts.
Many Hong Kong public bodies have seen increasing interest in multicurrency bonds to attract more international investors, UBS says.
Net interest margin narrowed to 1.5 per cent in the first nine months last year from 1.67 per cent in 2023, according to HKMA data.
Four new bond issuances worth 3.2 billion patacas (US$401 million), plus 18 secondary-market transactions, settled on first day of linkage.
Holders of the accounts can transfer funds to use in mobile payment apps while in mainland China.
The working group will do roadshows and update industry players on new policies and regulatory measures in Hong Kong, association says.
New life insurance sales in the first nine months of 2024 stood at HK$169.6 billion (US$21.8 billion), the highest since the authority set up in 2016.
Officials from Saudi Arabia, UAE, Oman and Qatar say Hong Kong can a play a major role to help diversify their economies.
To avoid reducing its appeal for wealthy families, Hong Kong will need to look at ways other than higher taxes to trim budget shortfalls, Bonds Group says.
HKMA and PBOC have been working on syncing the Faster Payment System and the mainland’s Internet Banking Payment System.
New incentives will enhance Hong Kong’s role as an offshore yuan hub as well as deepen the city’s bond market with more institutional players.
WeLab Bank, ZA Bank and Mox Bank believe face-to-face interactions would be a good addition, while Livi Bank does not see a need.
Gao’s license in Hong Kong lapsed at the end of last month, and he is no longer working at a financial firm in the city, SFC records show.
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Hong Kong lags behind many markets despite a new rule requiring listed companies to have at least one woman on their boards of directors.
Speculation about ending the peg reflects ‘misconceptions due to a lack of understanding’, says head of de facto central bank.
Micro Connect pooled more than 11,000 stores and 688 brands in China in 2023, sharing US$113.2 million of revenue with investors.
The increase of HK$102.4 billion (US$13 billion) works out to HK$21,500 per member, says MPF Ratings.
HKEX proposals on public float and allocation requirements would help city draw more listings, institutional investors, UBS says.
Number of listed firms with all-male boards fell to 3 per cent from 40 per cent when rule was first announced in 2022, HKEX data shows.
Latest deal brings total issuance in Hong Kong to US$748 million since insurance-linked securities were made possible in 2021.
Changes to the Mutual Fund Recognition will expand the scale of products for investors, thus reinvigorating the scheme: HKIFA.
