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US Treasury Secretary Janet Yellen. Photo: Getty Images via AFP
US-China relations

Hong Kong is becoming hub for financial crime, US lawmakers say

In a letter, US lawmakers have asked Treasury Secretary Janet Yellen to rethink ties with Hong Kong’s banking sector.

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China trade

Russia’s ‘economic isolation’ seen benefiting China amid fresh US sanctions

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Wealth management

Singapore, Hong Kong among top picks in Asia for investment: HSBC

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IPO

Hong Kong to boost financial reforms to aid Chinese firms: Paul Chan

Amid geopolitical tensions, city can help mainland firms that are struggling to raise funds abroad, financial secretary says.

Financial Secretary Paul Chan Mo-po speaks at the Guangdong-Hong Kong-Macau Greater Bay Area Listed Companies Summit on November 25, 2024. Photo: Handout
Yuan

Yuan to catch up to China’s position in world’s economy: ex-official

Outspoken former Chongqing mayor Huang Qifan says Hong Kong can play a key role in the internationalisation of the yuan.

Blockchain

Bitcoin’s march towards historic US$100,000 level stalls

‘Bitcoin was extremely overbought since the election,’ one analyst says.

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SCMP Exclusives

Exclusive | Citigroup’s Jane Fraser on Hong Kong’s enduring charm and strategic role

A potential trade war will not alter the US bank’s expansion plans in Asia, or Hong Kong’s importance, Fraser says in an exclusive interview.

Citigroup CEO Jane Fraser, pictured during the Hong Kong Monetary Authority’s Global Financial Leaders’ Investment Summit at Grand Hyatt in Wan Chai on November 19, 2024. Photo: Dickson Lee
Mergers & Acquisitions

Chinese M&A activity seen rising amid Trump tariff threat

‘More tariffs may mean that the globalisation of Chinese companies is going to get faster,’ Deloitte analyst says.

Mergers & Acquisitions

China’s largest brokerage emerges from Guotai Junan-Haitong merger

Haitong’s shareholders will be able to swap their shares for Guotai Junan stock or receive cash in lieu.

Wealth management

Hong Kong’s wealth sector thrives as political uncertainty, geopolitics swirl

The Capital Investment Entrant Scheme, launched in March, has brought in more than HK$20 billion from 670 applications, Paul Chan says.

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Net inflows into wealth management products offered in Hong Kong nearly tripled to HK$341 billion in 2023, from a year earlier. Photo: Eugene Lee
China's economic recovery

Citigroup CEO meets Chinese officials as Beijing touts financial market reforms

Fraser said the Wall Street bank will ‘further its participation in the market to help promote US-China economic ties and trade’.

Chinese Vice-Premier He Lifeng met Citigroup CEO Jane Fraser at the Great Hall of the People in Beijing on Thursday. Photo: Xinhua
Blockchain

Bitcoin hits US$97,000 as crypto sector seeks White House post

The world’s largest digital asset reaches an all-time high in Asia on Thursday.

Wealth management

Blackstone to train Hong Kong wealth managers as private assets gain favour

Alternative asset manager launches Blackstone University programme along with Private Wealth Management Association.

Stock Connect

Editorial | More growth ahead as cross-border Connect turns 10

Status of Hong Kong as offshore financial hub for mainland China has been greatly enhanced by ever-widening investment scheme.

Investors watch stock market trends at a securities firm in Nanjing, in east China’s Jiangsu province. A cross-border stock scheme, which is marking its 10th anniversary, provides mainland investors with new avenues to channel their money. Photo: Xinhua
United States

Archegos’ Bill Hwang sentenced to 18 years in prison for massive US fraud

Hwang’s family-owned hedge fund was at the centre of a market manipulation scheme said to have cost global investment banks billions of dollars.

Bill Hwang, founder and head of private investment firm Archegos Capital Management, arrives for his sentencing hearing in New York on Wedneday. Photo: AFP
Digital currencies

Shanghai court says crypto ownership legal in China amid bitcoin price surge

In an opinion on a recent lawsuit, a Shanghai judge wrote that cryptocurrencies have the attributes of property and thus holding it is legal.

Alibaba

Alibaba pulls in US$5 billion from dual-currency bond offering

The deal marks the biggest corporate bond issue of its kind in the Asia-Pacific region this year.

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Hong Kong Monetary Authority (HKMA)

Hong Kong urged to boost capital flow with mainland for global market access

Former HKMA head Norman Chan says capital circulation is not as seamless as it used to be.

Norman Chan Tak-lam, the former CEO of the Hong Kong Monetary Authority. Photo: Xiaomei Chen
Hong Kong property

Exclusive | World’s largest hedge fund CIO buys HK$95 million home in Hong Kong

Bridgewater Associates’ co-CIO Bob Prince paid HK$95 million for a three-bedroom home at St. George’s Mansion in Ho Man Tin.

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IPO

Could Hong Kong property tycoons’ backing lead to revival of IPOs?

Hong Kong billionaires are cornerstone investors in SF Holding’s US$793 million IPO, the first time tycoons have backed a listing in the city since 2022.

SFC

‘Money in motion’ as top financiers discuss diversification at Hong Kong summit

The Global Financial Leaders’ Investment Summit will be back for a fourth year next November, HKMA CEO Eddie Yue says.

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Financial Secretary Paul Chan delivers his keynote speech at the Global Financial Leaders’ Investment Summit on Wednesday. Photo: Handout from ISD
China economy

Explainer | What makes China’s ultra-long ‘special bonds’ so special?

China has only issued its ultra-long-term government bonds in special circumstances – here’s why this year qualifies.

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China has issued what it terms ultra-long-term special government bonds on multiple occasions in 2024, a rare move to shore up the economy. Photo: Reuters
Hong Kong economy

Editorial | State leader has made clear Hong Kong’s pivotal role as a financial centre

Vice-Premier He Lifeng lays out three challenges city must meet to help China achieve its development goals.

Hong Kong Monetary Authority (HKMA)

Alibaba’s Connect link shows Hong Kong’s strength, access to mainland funds

Mainland investors have amassed 4 per cent of Alibaba’s public float and contributed 15 per cent to its trading volume through the Stock Connect scheme.

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China's economic recovery

‘China plus one’ strategy to boost Asia’s growth amid Trump’s trade war

Diverting investments from China to neighbouring economies as a hedge against tariffs and geopolitical risks will boost Asia’s growth, HSBC’s Elhedery says.

Donald Trump’s return to the White House could prove to be boon for Asia, as investments are directed to the region, bankers said at the Global Financial Leaders’ Investment Summit on Tuesday. Photo: Getty Images/TNS
China economy

Goldman Sachs CEO says it is too difficult to get capital out of China

With venture capital transactions by American investors at the lowest level in nearly four years, investors need reassurance, Solomon says.

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David Solomon of Goldman Sachs. Photo: Agence France Presse
IPO

Chinese courier giant seeks up to US$793 million from Hong Kong IPO

China’s largest express delivery company is selling 170 million shares at HK$32.30 to HK$36.30 each, with the listing to take place on November 27.

Hong Kong Monetary Authority (HKMA)

Top bankers stress resilience and wisdom key to navigating uncertainty

Speakers at the Global Financial Leaders’ Investment Summit say collaboration and strategic thinking hold the key to tackling a divided world.

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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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