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A rising number of Hong Kong SMEs are struggling with cash flow, loss of business, and an exodus of investors and patrons. Photo: Jelly Tse

Hong Kong interest rate cut gives small businesses ‘more room for survival’

Lower rates will not only reduce financing costs but revive investor confidence and spending sentiment, experts say.

Lower rates will not only reduce financing costs but revive investor confidence and spending sentiment, experts say

20 Sep 2024 - 7:14PM

Hong Kong banks cut prime rates by quarter point; first cuts since 2019

19 Sep 2024 - 12:41PM

HSBC tops global dividend payout list; Asia-Pacific lags behind rest of world

12 Sep 2024 - 10:36AM

HSBC’s Elhedery gets close and personal with Hong Kong staff, customers

The global CEO visited two premier branches, where the staff walked him through the customer service and showed him the various digital solutions.

2 Sep 2024 - 7:29PM

Georges Elhedery (left), HSBC new group CEO, visited the bank’s branches on Des Voeux Road and Hysan Place on Monday. Photo: Handout

More ultra-rich Chinese borrow against stocks amid liquidity crunch

With Fed easing imminent, ‘clients are once again comfortable using their stocks as collateral for project funding’, HSBC executive says.

2 Sep 2024 - 10:00AM

Exclusive | HSBC Life sees Asia’s wealthy, bay area retirees as key to growth

Key growth areas are the wealth hubs of Hong Kong and Singapore, alongside the emerging wealth markets of mainland China and India, CEO Moncreiffe says.

2 Sep 2024 - 10:56AM

Editorial | Hong Kong first stop for new HSBC boss

Georges Elhedery faces many challenges, including placating the banking giant’s largest shareholder, Ping An, and navigating industry’s fast-changing landscape.

2 Sep 2024 - 5:15AM

Georges Elhedery, the new CEO of HSBC, is expected to spend a few days with staff at the HSBC building in Central. Photo: HSBC

Exclusive | HSBC’s London-based CEO starts work in Hong Kong. Here’s why

A Mandarin-speaking chief executive may go some way to help HSBC mend ties with its biggest shareholder Ping An Insurance (Group), which has been agitating to break up the bank since 2022.

30 Aug 2024 - 4:54PM

HSBC’s new CEO shakes up management with focus on digital and wealth

Georges Elhedery, who starts on Monday, creates a group-level information officer role and names a new CEO for global wealth and personal banking.

29 Aug 2024 - 7:15PM

Hong Kong’s launch of wCBDC sandbox takes it closer to tokenised market

Six participants, including HSBC, Standard Chartered and Bank of China (Hong Kong), showcased test cases that will be explored to boost scale and interoperability.

28 Aug 2024 - 9:02PM

The HKMA has launched a wholesale central bank digital currency sandbox, which will test a new financial market infrastructure that facilitates all the stages of a tokenised asset transaction. Photo: Shutterstock

HKMA expands data platform to help SMEs open bank accounts

The HKMA has expanded its Commercial Data Interchange electronic platform designed to help SMEs by linking up with the Companies Registry to share more data with banks.

26 Aug 2024 - 7:07PM

The HKMA has linked its Commercial Data Interchange platform with the Companies Registry to help banks easily access information about companies. Photo: Shutterstock

Hong Kong banks pledge to ease loans in HKMA’s plan to help SMEs

Hong Kong’s business owners are cash-starved, as interest rates hover at the highest level in almost two decades.

23 Aug 2024 - 6:46PM

ASMPT, J&T to benefit from latest review of Hang Seng indices as SenseTime exits

The city’s stock index compiler made no changes to the Hang Seng Index, while adding chip equipment maker ASMPT to its tech gauge at the expense of Ping An Healthcare

16 Aug 2024 - 8:35PMvideocam

HSBC’s PayMe goes global, riding on UnionPay’s worldwide payments network

HSBC’s digital payment platform will allow its 3.2 million users in Hong Kong to pay for purchases worldwide from August 8 through a partnership with China’s UnionPay.

7 Aug 2024 - 10:27PM

PayMe e-payment code seen inside a retail shop in Sai Ying Pun Hong Kong. Photo: Jonathan Wong

Hong Kong to explore easing visitor rules with 3 Asean countries, John Lee says

City leader says ‘fruitful’ six-day trip to Laos, Cambodia and Vietnam resulted in 55 cooperation agreements and promoted people-to-people exchanges.

3 Aug 2024 - 10:16AM

John Lee checks out the goods at a Hong Kong firm’s shirt factory in Vietnam. Photo: ISD

HSBC sets aside US$3 billion to buy back shares after surprising quarter

Hong Kong’s biggest currency-issuing bank announced a new round of share buy-back after reporting profits that were better than market expectation.

31 Jul 2024 - 4:54PM

Towngas enlists HSBC, vendors in its efforts to cut supply-chain emissions

Towngas will extend advance payments to suppliers with a lower interest rate through its tie-up with HSBC, provided they can meet the company’s ESG standards.

26 Jul 2024 - 8:30AM

HSBC promotes insider to CEO to helm Europe’s biggest bank

Noel Quinn announced his retirement in April, after five years on the job, that involved pushing HSBC to resume paying dividends amid a revolt led by its biggest shareholder.

17 Jul 2024 - 4:49PM

HSBC promotes CFO Georges Elhedery to chief executive, replacing Quinn who retires in September. Photo: HSBC

Former UK politician Danny Alexander to helm HSBC’s new infrastructure unit

HSBC Infrastructure Finance will tap infrastructure financing and advisory opportunities associated with the transition to a low carbon economy.

16 Jul 2024 - 9:39PM

‘Not acceptable’: HSBC fined record US$3 million over MPF recruitment scheme

Hong Kong’s biggest lender was ordered to pay a record fine of HK$24 million for offering incentives to ‘unauthorised intermediaries’ to get corporate clients to join its Mandatory Provident Fund scheme in 2020 and 2021, the pensions regulator said.

5 Jul 2024 - 8:11PM

Hong Kong to enhance cross-border transfers to support retirees

Hong Kong’s monetary authority plans to sign an agreement with the Chinese central bank to find ways to enhance cross-border remittance services to make it easier for Hongkongers who work or retire on the mainland.

28 Jun 2024 - 7:58PM

A sign of digital yuan (e-CNY) during the 2021 China International Fair for Trade in Services (CIFTIS) in Beijng on Sept. 5, 2021. Photo: Xinhua

Banks need more government help to backstop SMEs’ finance needs: HSBC co-CEO

Big data, AI and blockchain tech are raising financial inclusivity, top Moody’s and Standard Chartered executives say at Lujiazui forum.

20 Jun 2024 - 6:44PM

The logos of HSBC and Standard Chartered adorn their buildings in Central, Hong Kong. Photo: Nora Tam

‘The a-ha moment’: Henry Steiner on his 60-plus years in Hong Kong design

The creator of logos for HSBC, the Hong Kong Jockey Club and Dairy Farm, and designer of Hong Kong banknotes, Henry Steiner, 90, talks about a show of his work at M+ museum and his 60-plus-year career.

14 Jun 2024 - 12:00PM

No relief for borrowers as six Hong Kong banks keep interest rates unchanged

HSBC, Hang Seng Bank, BOCHK, DBS, Standard Chartered and Citibank all kept their rates the same in the wake of the Fed’s decision on Thursday.

13 Jun 2024 - 4:03PM

Hong Kong keeps base rate steady as Fed dials back signal

Hong Kong’s de facto central bank kept its base rate unchanged for the seventh time as traders in the financial markets shift their focus to September in expectation of the first cut in borrowing costs.

17 Jun 2024 - 12:46PM

A pedestrian walks past a billboard displaying various currency notes outside a foreign exchange shop in Sheung Wan on 21 October 2022. Photo: Yik Yeung -man.

‘Lazy cow’: HSBC executive sued dance instructors for fees after 2004 insult

When a dance instructor insulted his pupil, wealthy bank executive Mimi Wong, in public in 2004, she took him and his partner to court to demand the return of US$8 million in prepaid fees.

12 Jun 2024 - 1:59PM

The then head of private banking in Asia for HSBC, Mimi Wong (above), who sued her dance instructors for the return of HK$62 million in fees after alleging one of them insulted her in public in 2004. A court ordered she be paid HK$62 million. Photo: Martin Chan

Hong Kong life insurance sales surge amid soaring demand from mainland visitors

Life insurance sales in Hong Kong surged by 39 per cent in the first quarter thanks to a world record policy sold by HSBC Life and strong growth in the number of mainland Chinese visitors buying policies in the city, according to data from the industry regulator.

31 May 2024 - 5:28PMvideocam

Hong Kong bankers get welcome lift from convertible bond frenzy

Convertible bond issues are seen growing in popularity across the Asia Pacific region as companies seek to lower their interest costs at a time when the primary equity market is sluggish.

31 May 2024 - 10:13AM

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HSBC

HSBC is one of the world's largest banking and financial services organisations, serving around 39 million customers across its wealth and personal banking, commercial banking and global banking & markets segments. The bank was established in Hong Kong in 1865 and now operates in 62 countries. In 1993, the lender moved its headquarters to London following its acquisition of Midland Bank in the UK.

last updated:

26 August, 2024