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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.
In a recent Bank of America survey of fund managers, four out of five respondents said proven, tangible AI monetisation would most increase their conviction to add to AI-related stocks. Photo: Shutterstock
Artificial intelligence

AI investors in Asia seen shifting focus to earnings ahead of Xi-Trump summit

Investments in artificial intelligence increasingly hinge on monetisation, Bank of America survey finds, as ‘fundamentals drive everything’.

Hong Kong property

Once the world’s most-visited city, Hong Kong now converts hotels to dorm rooms

IPO

4 mainland Chinese firms jump into cooling Hong Kong IPO market

Wealth management

Institutional investors rushing to stockpile cash, survey finds

Report says net cash allocation intentions rose 35.5 percentage points to a positive 22 per cent in poll conducted in June and July.

Banknotes from around the world. Photo: Getty Images
IPO

Mainland China’s stock exchanges mount charm offensive amid Hong Kong IPO boom

Domestic bourses are lobbying mainland firms to reconsider Hong Kong listing plans, sources say.

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IPO

China’s tech IPOs weigh Hong Kong vs the mainland. But how much does it matter?

Firms weigh benefits of international reach against higher domestic valuations, but the dual-track dynamic is just the start, and it all aligns with Beijing’s goals.

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C-Suite Content Hub

Betting on People-First Banking

China CITIC Bank International’s Wendy Yuen says the future of finance will not be won by technology alone, but by banks that combine digital speed with human trust, cross-border insight and lifelong learning.

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SCMP C-Suite
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China property

Will incentives give China’s housing market more than a short-lived rebound?

Sales of new units in cities like Shanghai and Shenzhen have risen following central government moves designed to revive buyer confidence.

China economy

Editorial | Global monetary tightening tests China’s 2-speed economy

While the domestic hi-tech sector builds momentum, traditional exporters struggling with shifting trade patterns will need targeted support.

Mandatory Provident Fund (MPF)

Mainland Chinese tax drive flags Hong Kong MPF accounts as offshore trusts

As Beijing tightens tax collection, some mainland residents who previously worked in Hong Kong are being asked to explain their MPF accounts.

China’s Ministry of Finance, along with the State Taxation Administration, issued detailed rules this year governing individual income tax on offshore trusts, with some Hong Kong MPF accounts now mistakenly caught up in the tax drive. Photo: VCG via Getty Images
US Federal Reserve

From US Fed rates to China’s global export share: 4 figures shaping markets

The US central bank raised rates for first time since 2023, Hong Kong followed and Goldman Sachs projects a sharp rise in Chinese firms’ global export share.

A screen shows Federal Reserve Board Chairman Kevin Warsh as currency traders work at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, on Thursday. Photo: AP
HSBC

Double blow as top HSBC bankers lose education perk as job fears mount: sources

HSBC axes education benefits worth up to HK$300,000 as integration with Hang Seng Bank threatens jobs – but investors stay upbeat.

China debt

China publicly names officials in ‘unprecedented’ debt crackdown. Can it work?

The escalating campaign comes as officially identified hidden debt shrinks, even as broader estimates of local financing vehicle liabilities remain far larger.

Mainland China

What does the rate increase by the US Fed mean for the Chinese yuan?

Analysts weigh whether Beijing is set to push ahead with a rate cut to bolster China’s economy despite the US Fed raising interest rates.

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Analysts say that China’s central bank may push ahead with rate cuts this year. Photo: Getty Images
Interest rates

Fed rate hike risks worsening China’s economic divide

The first US interest rate increase in more than three years is unlikely to damp China’s surging tech exports while potentially worsening a squeeze on other manufacturers.

Photo: Reuters
Central banks

Macroscope | Who’s in control of Japanese monetary policy? Tokyo or Washington?

Bessent’s intervention could have adverse implications for Japan’s economy, the BOJ’s credibility and tech-heavy stock markets in Asia.

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Hong Kong’s first 5-year plan

How will Hong Kong’s new 5-year plan court global capital?

Expanded investment products and stronger mainland-market links aim to deepen Hong Kong’s wealth-management edge and lure more international investors.

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Gold in Hong Kong

Exchange Fund may buy more gold to support Hong Kong’s trading hub ambitions

A larger allocation to precious metals could improve diversification and align with the city’s gold hub strategy, says HKMA’s Eddie Yue.

Hong Kong Monetary Authority chief executive Eddie Yue Wai-man. Photo: Edmond So
IPO

Hong Kong to support rocket, satellite IPOs as SpaceX-led sector takes off

Exchange will examine listing-rule changes to attract space IPOs in alignment with Beijing’s prioritisation of space technology.

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US Federal Reserve

China cuts US Treasury holdings to 18-year low amid global sell-off

Persistent concerns over sustainability of Washington’s finances see overall foreign holdings shrink for second consecutive month.

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Hong Kong stock market

Hong Kong stocks drop after Fed raises interest rates and signals more to come

Investors look to Japan’s next rate decision after the Fed points to further tightening this year.

A rise in US interest rates is widely expected to be bad news for Hong Kong’s stock market. Photo: Nora Tam
Gold in Hong Kong

Gold rebounds after Fed rate rise as banks back long-term demand outlook

Investment banks say central bank purchases and demand from China and India should support bullion prices.

Gold prices have soared over the past couple of years amid rising geopolitical tensions and concerns over US debt levels. Photo: Shutterstock
Hong Kong stock market

US rate increase should only have short-term impact on Hong Kong stocks: CICC

Rise in US interest rates could put pressure on Hong Kong stocks, but the impact is likely to be short-lived, investment bank says.

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Hong Kong Monetary Authority (HKMA)

In wake of US rate hikes, Hong Kong dollar may come under pressure: HKMA

HSBC and other major banks keep prime rates unchanged after HKMA raises base rate by a quarter-point in lockstep with Fed.

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United States

US Fed raises interest rates for first time in 3 years, irking Trump

US president demands immediate rate cuts as Chair Kevin Warsh warns inflation remains ‘too high’.

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The Federal Reserve in Washington. The US central bank raised interest rates for the first time in three years on Wednesday. Photo: Reuters
John Lee policy address 2026

Hong Kong targets gold trading, FPS-UnionPay link to boost yuan use

‘We will consolidate and enhance Hong Kong’s status as an international financial centre,’ John Lee says.

The HKMA will promote linking the Faster Payment System with mainland China’s bank card and payment system UnionPay by the end of the year. Photo: Nora Tam
Hong Kong economy

Hong Kong to woo finance and tech firms with new tax breaks

Chief Executive John Lee says Hong Kong aims to attract more commodity traders to set up or expand their businesses in city.

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Cryptocurrency

Can Hong Kong use US crypto bill failure to boost its digital asset hub role?

City urged to act fast as window could vanish once Washington regains regulatory momentum.

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