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A construction site in Kai Tak. Photo: Xiaomei Chen

Hong Kong property deals bottom out in September, but October is looking better

Sales of new and lived-in homes, offices, shops, car parks and industrial spaces dropped 18.7 per cent to 3,843 units in September.

Sales of new and lived-in homes, offices, shops, car parks and industrial spaces dropped 18.7 per cent to 3,843 units in September

Explainer | How China’s 2024 stimulus compares with past packages, and what’s next?

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Boom or bust: economist urges China to sober up after stock rally

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Banks are missing out on GenAI benefits in marketing, client service: Bain & Co

Only two out of 16 financial institutions interviewed by the HKMA said they use GenAI to create tailored marketing plans or customised pitches.

Banks in Hong Kong are slow to deploy GenAI in their marketing function, according to a report published by the HKMA. Photo: Shutterstock Images

Letters | Hong Kong’s third place in world financial centre ranking an answer to critics

Readers discuss negative predictions about the city’s future, plans to develop the New Territories and the plight of taxi drivers.

Hong Kong banks lure mainland clients with special incentives during golden week

Hong Kong banks are pulling out all the stops to attract mainland tourists, offering everything from fireworks dinners to golf with famous players.

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JD Industrials files a second IPO attempt in Hong Kong amid boom

The company submitted its second IPO application after a first attempt failed last year due to tepid market conditions.

A screen displayed the Hang Seng Index in Central. Photo: SCMP/Sam Tsang

Cybersecurity threats jump in Hong Kong, as victims lose money: survey

Scams are the most common online threat in Hong Kong, causing lost money or time for nearly two thirds of the victims, a new report says.

VP of China-based AIIB says bank has proven doubters ‘100% wrong’

With 110 member states and years of experience, AIIB vice-president says Beijing-based development bank a model for multilateralism.

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China urges audit firm PwC to strictly abide by rules and regulations

China’s vice-finance minister met PwC’s chief in Beijing following a hefty fine and suspension handed to the firm’s mainland unit over auditing failures at Evergrande.

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PwC Zhong Tian, the China unit of the accounting firm, was handed a record fine of 441 million yuan on September 16. Photo: AP Photo

Hong Kong’s latest Silver Bond sale starts strong

As interest rates have begun to fall, the guaranteed 4 per cent yield of the US$6.4 billion in bonds looks better by comparison.

Elderly residents rest in a park in Cheung Sha Wan, Hong Kong on August 16, 2023. Photo: Jelly Tse

Former Chinese finance official urges crypto research as US softens stance

Former finance vice-minister Zhu Guangyao called cryptocurrencies a ‘crucial aspect for the development of the entire digital economy’.

Shanghai, tier-1 cities remove more curbs in major boost to property market

Guangzhou is setting the tone for policy deregulation across the country, says Yan Yuejin of E-house China Research and Development Institute.

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Mox Bank expands wealth management amid market bull run

Branchless bank has secured 620,000 customers, representing 10 per cent of the city’s adult population.

Barbaros Uygun, CEO of Mox Bank, pictured at the company’s office in Taikoo Place, Quarry Bay on February 1, 2024. Photo: Sun Yeung

Rising bad debts on Hong Kong commercial property ‘a concern’: HKMA CEO

The increase is ‘not alarming’ as the banking system is robust enough to handle the uptick, according to Eddie Yue.

The vacancy rate for grade A office buildings in Hong Kong soared to 14 per cent in June, the highest point since 2004, according to CBRE. Photo: Yik Yeung-man

HKMA wants to continue developing Greater Bay Area, expand connect schemes

The de facto central bank will work with mainland authorities to develop the Greater Bay Area and expand cross-border trading, CEO Eddie Yue says.

Wealthy Asians drawn to Hong Kong’s varied investment choices: Citibank

High-net-worth individuals from mainland China and Asia use Hong Kong to invest their wealth as they seek wider investment choices and better returns.

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Japan’s Ishiba picks continuity for cabinet, eyes October 27 snap election

Ishiba’s choices for finance, defence, and foreign minister, as well as the pivotal post of chief cabinet secretary, draw on party veterans.

Shigeru Ishiba, the newly elected leader of Japan’s ruling Liberal Democratic Party. Photo: Reuters

How Singapore’s investor watchdog fights the good fight for small shareholders

Boardroom Knockout charts how the Securities Investors Association (Singapore) has navigated the country’s corporate scandals and crises.

Macroscope | Can central banks really prevent a repeat of the Great Depression?

As we wrestle with challenges similar to those before the 1920s slump, let’s not rely on central bankers to save us from economic calamity.

Hong Kong’s depressed commercial property market burns tycoons, investors

Hong Kong’s commercial property market has buckled under the crushing weight of China’s economic malaise, an exodus of global firms, a supply glut and high interest rates.

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Illustration by Henry Wong

China markets blast rocket boosters, pull U-turn with Beijing’s big policy plans

Traders see the China market as ripe for the picking, but long-term effects of Beijing’s new stimulus package remain in question.

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Market sentiment has turned sharply bullish on China in recent days. Photo: Bloomberg

Banks set to prosper as Hong Kong expands wealth, fintech opportunities

Hong Kong’s efforts to regain its top hub status will prosper lenders as opportunities abound in wealth and fintech sectors and the bay area.

HKMA to consult banks on framework to share scam-related losses

The city’s financial regulator has received more complaints about scams this year, while overall losses grow.

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A rush of mega IPOs could put Hong Kong back on top of the IPO table

IPOs in the city reached US$7.14 billion in the first nine months, exceeding last year’s total of US$5.9 billion, LSEG data shows.

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Hong Kong stock exchange’s IPO fortunes have picked up in recent weeks. Photo: Bloomberg

Tencent cashes in on Futu as China boosts economic stimulus

Tencent has been unwinding some of its investment portfolio and the Futu share sale is in line with the strategy, a source says.

The Tencent headquarters in Shenzhen, southern China. Photo: AFP

AIIB adds new member as development bank embarks on grand global mission

Micronesian island of Nauru named as the 110th member of the Beijing-headquartered Asian Infrastructure Investment Bank (AIIB) on Thursday.

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China’s all-out action plan could gather pace with fiscal loosening: analysts

Analysts suggest China could sell at least 1 trillion yuan (US$142 billion) of special treasury bonds and lift its budget deficit ratio.

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Banking & finance
News about the global financial industry with a focus on developments in Hong Kong and China.
last updated:
19 September, 2024
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