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Central banks

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

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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Citigroup CEO meets Chinese officials as Beijing touts financial market reforms

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

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

Chinese Vice-Premier He Lifeng’s 3 ideas for Hong Kong – as it happened

Three-day Global Financial Leaders’ Investment Summit brings together senior Chinese officials and heads of banking giants.

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Opinion | Here’s how the G20 can be more than a talk shop

While the grouping did a good job of dealing with the 2008 global financial crisis, in recent years, collective action has been sorely lacking.

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HSBC’s 4.5 billion yuan panda bond to boost globalisation of Chinese currency

The bond, which pays an annual coupon of 2.15 per cent, also reinforces Hong Kong’s role as the world’s offshore yuan centre, bank says.

Yuan deposits in Hong Kong exceeded 1 trillion yuan for six months in a row up to September, according to HKMA. Photo: EPA-EFE

Ant-backed credit rating firm gets central bank approval after 3-year wait

The joint venture, 35 per cent owned by Ant Group, had a prolonged wait after previously licenced firms were approved within weeks of applying.

Open Questions | Economist Huang Yiping on Trump trade war 2.0 and China’s stimulus ‘U-turn’

Huang Yiping of Peking University talks the re-election of Donald Trump and why China needs its own Marshall Plan.

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China unveils debt-relief plan, keeps further stimulus salvo in reserve arsenal

Week-long NPC Standing Committee meeting ends with mostly forward-looking plans to right China’s economic ship.

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A week-long NPC Standing Committee meeting ended on Friday with mostly forward-looking plans to right China’s economic ship. Photo: AFP

Hong Kong home prices to bottom out in short term after rate cut: analysts

Unexpected prime-rate cut by local lenders seen bringing more buyers into market, shoring up prices.

Staff work at a real estate agency in North Point on October 29, 2024. Photo: Eugene Lee

Hong Kong’s base interest rate drops to 5% in second cut

Together with the half-percentage-point cut in September, Hong Kong’s key rate has now fallen back to February 2023’s level.

US Federal Reserve eases rates with quarter-point cut

Fed chairman Jerome Powell is expected to be questioned on Thursday about economic impact of Trump’s US election victory.

China’s yuan falls sharply as Donald Trump declares US election win

Exchange rate between US dollar and yuan could become a bargaining chip in negotiations between China and the US on tariffs, analyst says.

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A bank employee counting Chinese yuan in Haian, Jiangsu province. Photo: NurPhoto via Getty Images

IMF welcomes US-sanctioned former Russia central banker

Former first deputy governor of Bank of Russia Ksenia Yudaeva has been elected as the IMF’s executive director for Russia and Syria.

The International Monetary Fund headquarters in Washington. Photo: Reuters

US financial-sanction threat should make China rethink forex holdings: economist

‘Possible future sanctions from the US’ under a new US president have set off alarms in Beijing’s policy circles.

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Chainlink makes a case for blockchain-driven finance at SmartCon in Hong Kong

As Chainlink touts its technology that has brought blockchain transfers to the Swift network, geopolitical scrutiny is growing in the space.

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My Take | A global financial war has just escalated on a new digital front

Washington wants to kill an international pilot payment system that can bypass the US dollar and banks, but the genie is already out of the bottle.

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A view of the International Monetary Fund headquarters building in Washington DC. Photo: AFP

How Hong Kong can compete with Singapore, Dubai in gold trading

Hong Kong has to create a comprehensive gold trading ecosystem, attract international traders, central banks and hedge funds.

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As China urges global financial reform, Global South ties more crucial: analysts

The world’s second-largest economy is looking to balance the scales of international financial governance under a system dominated by the World Bank and IMF.

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Multi-country digital currency platform is worth the effort: central bankers

‘We must reduce new cross-border payment frictions while removing existing ones,’ says PBOC deputy governor.

The People’s Bank of China building in Beijing. Photo: Reuters

HKEX’s third-quarter profit rises 7% on IPOs, turnover

Funds raised from IPOs in the June to September quarter reached HK$42.2 billion, six times higher than a year earlier.

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Hong Kong Exchanges and Clearing is the operator of the third-largest market in Asia. Photo: Edmond So

2 trillion yuan fund could offer China’s stock market ‘instant’ lift: think tank

Institute of Finance and Banking under the Chinese Academy of Social Sciences says the fund would enhance the stability of the capital market and promote steady growth.

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Editorial | China property push reflects need to raise consumer confidence

The cut in the key reference rate for mortgage loans may have been expected, but it shows monetary policy is squarely aimed at fighting deflation.

China’s finance sector liberalisation to favour foreign firms: BOC chairman

China’s financial reforms will open up opportunities for foreign players in the vast and growing market, Ge Haijiao says.

Ge Haijiao, chairman of Bank of China, delivers a speech during the Sibos conference in Beijing on Tuesday. Photo: Getty Images

First swap operation by China’s central bank comes quickly to boost stock market

Swap facility lets brokers, asset managers and insurance companies exchange assets with poorer liquidity, enabling them to get liquid assets for stock purchases.

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The People’s Bank of China announced its first swap operation, totaling 50 billion yuan (US$7.03 billion), on Monday. Photo: Reuters

As global debt nears US$100 trillion, IMF urges action

International Monetary Fund economists warn that failure to address rising debt could lead to ‘significant spillovers’ for the world economy.

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China’s US$42 billion relending scheme boosts stock market

Twenty-one banks to extend loans for stock buy-backs and stake hikes as the part of the 300 billion yuan scheme unveiled late last month.

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Central banks
News about policymaking in the world’s major central banks with a focus on the People’s Bank of China, the Federal Reserve, the European Central Bank, the Bank of England, the Bank of Japan and the Reserve Bank of Australia.
last updated:
9 September, 2024
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