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Banking & finance

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Banking & finance
News about the global financial industry with a focus on developments in Hong Kong and China.
Manycore Tech is positioning itself at the intersection of artificial intelligence and the physical world. Photo: Getty Images
IPO

Manycore, one of Hangzhou’s ‘Six Little Dragons’, surges on Hong Kong IPO debut

The company’s listing highlights its pivot from design tools to advanced AI-driven spatial platforms as it eyes overseas growth.

US-China trade war

Why the biggest threat to US dollar dominance may well be Washington itself

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Hong Kong economy

Editorial | Hong Kong taxpayers deserve clarity on Covid-era SME loan scheme

Yuan

China boosts overseas-loan quotas as ‘panda bond’ issuance hits record high

Beijing’s move to lift offshore-loan quotas seen helping stabilise yuan against weaker US dollar while accommodating a surge in net financing via ‘panda bonds’.

A person walks past the building of China’s central bank in Beijing. Chinese regulators have raised the overseas-loan leverage ratio for foreign banks in China and their joint ventures with Chinese lenders. Photo: Getty Images
Commodities

Geopolitics to drive Hong Kong mining fundraising amid ‘supercycle’, experts say

Hong Kong could see more mining IPOs as global demand for resources accelerates, though national security issues may slow deals: experts.

Foreign exchange market

China trims US Treasury holdings as global ownership hits record

Beijing slightly pares its sovereign US debt position as private investors and certain financial hubs drive demand up.

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Wealth management

Mark Mobius, pioneering investor in China, dies at 89

‘Father of emerging markets’ was among the first fund managers to champion investments in Hong Kong and mainland China.

Mark Mobius, pictured during a media event on May 30, 2024, in Hong Kong. Photo: Enoch Yiu
Artificial intelligence

Lightelligence on track with IPO plans as China’s AI photonics race gathers pace

Shanghai-based company aims to become Hong Kong’s first listed AI photonics chipmaker as AI infrastructure buildout drives momentum.

IPO

Global funds fuel Hong Kong IPO rebound as investors rebalance China portfolios

AI, robotics and energy storage firms make up most of the record-high IPO pipeline in Hong Kong, says Chan.

Hong Kong economy

Paul Chan backs Hong Kong to be world’s No 2 financial hub within 15 years

Finance chief says city’s strengths are its stable environment and strong growth.

Hong Kong retained its position as Asia’s top financial centre and ranked third globally. Photo: Jelly Tse
Bonds

China set to issue US$2.3b in offshore bonds amid high demand for yuan assets

A planned sale of yuan-denominated bonds in Hong Kong, the largest since 2023, comes as investors seek shelter amid Middle East tensions.

China aims to expand dim sum bond sales in Hong Kong to deepen liquidity and support the currency’s internationalisation. Photo: Reuters
Fintech

How PayMe’s 3.3 million users and Hong Kong firms could start using stablecoins

HSBC eyes retail stablecoin roll-out via PayMe in second half of 2026, as Standard Chartered-led joint venture focuses on institutions first.

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Gold in Hong Kong

Editorial | Hong Kong has a gilt-edged opportunity to shine as gold trading hub

The rapid loss of confidence in the US opens the door for China and especially Hong Kong.

Yuan

Kazakh sovereign fund issues Central Asia’s first panda bond in ‘milestone’ sale

Samruk-Kazyna chairman says issuance marks ‘an important milestone in strengthening the strategic partnership between Kazakhstan and China’.

By the middle of last month, 78 billion yuan of panda bonds had been issued this year. Photo: Shutterstock
Hong Kong society

Opinion | 4 identities Hong Kong must embrace to provide global leadership

The city can be a bedrock for world commerce, finance, governance and civilisational exchange as we enter a new phase of globalisation.

People walk through Central on August 15, 2025. Photo: Jelly Tse
HSBC

HSBC chair sees AI, middle class and trade driving growth despite Iran war

Artificial intelligence can support growth, while rising middle class could fuel consumption and wealth, HSBC chair says in debut speech.

HSBC

HSBC stays the course in the Middle East despite war

The bank will continue to invest in the UAE, alongside India, China and Singapore, says Surendra Rosha, co-CEO for Asia and the Middle East.

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Yuan

Yuan’s ‘golden window’ is open, former PBOC governor says as US dollar ebbs

Zhou Xiaochuan, who laid the foundation for China’s currency to go global, says Beijing can capitalise on changes in the international monetary landscape.

People walk past Chinese yuan and US dollar symbols in Hong Kong. Former PBOC governor Zhou Xiaochuan says China should seize fresh opportunities to promote the yuan as an international currency. Photo: AFP
Hong Kong economy

Hong Kong, mainland China sign ‘milestone’ MOU on promoting digital economy

Memorandum of understanding covers topics including AI promotion, cross-boundary data flow and blockchain.

Hong Kong

Calls grow for HKMA to go further on stablecoins after conservative first batch

Analysts and investors say the HKMA’s cautious approach prioritises risk control, but limits Hong Kong’s digital asset ambitions.

War and conflict

Macroscope | Can World Bank and IMF leaders rescue a global economy on the brink?

By attacking Iran, the US has put the global economic order in jeopardy.

The International Monetary Fund logo is seen outside its headquarters in Washington. Photo: Reuters
IPO

What does China’s tightening grip on red-chip structures mean for IPOs?

China’s tougher stance on red-chip structures is reshaping the tech listing pipeline, adding uncertainty for companies targeting Hong Kong.

China’s tightening oversight of offshore listings is already reshaping the pipeline for Hong Kong IPOs. Photo: Jelly Tse
Hong Kong stock market

Can Hong Kong’s listing reform 2.0 win over innovative firms?

The reforms enhance the city’s appeal for AI, biotech and other firms by slashing the market cap threshold and enabling confidential filings.

Artificial intelligence

Opinion | Despite its hype, AI is just a means to economic resilience

To survive the shift from winner-takes-all capitalism to true sustainability, the learning curve is steep. AI is just the latest tool to help us climb it.

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Fintech

HSBC, StanChart-led group among first to get stablecoin licences in Hong Kong

HSBC will launch its Hong Kong dollar stablecoin in the second half of this year, integrating it into its PayMe and mobile banking platforms.

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The awarding of stablecoin issuer licences marks the city’s latest step towards embracing cryptocurrency’s most-traded cash substitute. Photo: Reuters
Biomedicine: Industry Trends

China healthcare stocks shine in Hong Kong amid Middle East turmoil

Hang Seng Healthcare Index outpaces broader market as Akeso, Innovent, Hansoh provide refuge for global investors.

A number of Chinese biopharmaceutical and biotech companies posted their first-ever annual profits in 2025. Photo: Shutterstock
Cryptocurrency

OKX Ventures, HashKey Capital back Vietnam crypto platform’s pilot scheme bid

Under pilot rules, at least 65 per cent of capital must come from institutional investors and foreign ownership is capped at 49 per cent.

Hong Kong economy

Hong Kong seeks to raise bond issuance ceiling to HK$900 billion

Government proposes to raise borrowing ceiling from HK$700 billion to HK$900 billion to fund infrastructure development.

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