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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.
A large screen shows stock exchange and economy data in Shanghai. Photo: EPA
China economy

China speeds up new overseas quotas to expand global reach of domestic investors

Move to expand QDII quotas signals a deeper opening of China’s markets and growing appetite for global assets.

Commodities

China’s resources deals turn gold mines into – gold mines

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Fintech

China-UAE retail QR payment link to boost the yuan’s global push

Semiconductors

Chinese memory giant CXMT oversubscribed 212 times in mega Shanghai IPO

Nearly 10 million investor accounts apply for a rare listed proxy on Beijing’s semiconductor self-reliance drive.

A view of the headquarters of ChangXin Memory Technologies in Hefei, in eastern China’s Anhui province, on July 16. Photo: AFP
Hong Kong stock market

Hong Kong tech resilience tested as South Korea’s Kospi slides into bear market

Foreign investors have pulled US$110 billion from Seoul this year, rotating into undervalued Chinese giants as momentum seen slowing for expensive tech stocks.

Wealth management

How AI and chip boom is propelling Hong Kong’s ETP market to new heights

Hong Kong is already the world’s fourth-largest market for exchange-traded products, and the rapid growth in trading is set to continue, director says.

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China stock market

Open Questions | Citic Capital CEO on making China a financial powerhouse

Ex-Wall Streeter Zhang Yichen on attracting capital to China, building up its bond market and helping foreign firms better serve Chinese consumers.

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Illustration: Henry Wong
IPO

Hong Kong exchange returns IPO application sponsored by CICC

Inner Mongolia Xingye Silver & Tin Mining says it plans to resubmit application before end of September.

Semiconductors

CXMT’s mega IPO draws frenzy from retail investors to DeepSeek founder’s fund

Investors are hoping for a relatively generous allotment rate and sharp gains when the memory-chip maker debuts on Shanghai’s Star Market.

Stocks

Diversify away from US markets to shield savers, ex-World Bank official warns

Oxford’s Ian Goldin says extreme concentration of capital in tech giants exposes global investors to a looming and painful valuation reversal.

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Ian Goldin, former vice-president of the World Bank, speaks at the Sina Finance Global Capital Summit in Hong Kong on Thursday. Photo: May Tse
Biomedicine: Companies

Mainland funds boost stakes in Hong Kong-listed biotech amid value dislocation

Analysts say valuation of the sector is attractive, with biotech firms trading relatively cheaply.

Hong Kong’s skyline is seen from The Peak on June 1. Photo: Karma Lo
Hong Kong

HKIC reports double-digit investment return as ‘patient capital’ bears fruit

The government-owned investment firm generated nearly HK$6.5 billion in its second year, as Hong Kong’s economic vision begins to take shape.

Yuan

China eyes broader global access to yuan assets, as panda bond demand surges

Beijing plans further reforms to make it easier to issue and trade panda bonds, as it focuses on boosting the yuan’s role as a global currency.

Hong Kong economy

Opinion | Connect scheme for gold shines light on China’s financial liberalisation

The Connect model has evolved from isolated reforms into a blueprint for China’s financial opening up, with Hong Kong as the bridgehead.

Pan Gongsheng, governor of the People’s Bank of China, delivers a keynote speech at the Hong Kong FIC & Bond Connect Summit at JW Marriott Hotel in Admiralty on July 7. Photo: Sun Yeung
Blockchain

Hong Kong steps up its crypto hub challenge with tokenised fund

As the city looks to challenge the US as a global crypto hub, Baillie Gifford says the SFC has approved its blockchain-based tokenised fund.

British fund manager Baille Gifford says it has received approval from the Securities and Futures Commission to issue the city's first blockchain-based tokenised fund. Photo: Shutterstock
China economy

China increases holdings of US Treasuries despite diversification trend

Overall foreign holdings climb to US$9.371 trillion in May, with China’s rising to US$659.3 billion after hitting an 18-year low in April.

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Greater Bay Area

Hong Kong urged to pave path for Greater Bay Area firms going global

Standards alignment, supply-chain coordination and cross-border financing are areas where city’s expertise can be pivotal, summit speakers say.

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China stock market

5 years after Evergrande, does China’s stock market signal a turnaround?

Domestic A-shares have returned to near-2021 levels as real interest rates decline, though researchers warn a sustained recovery is not yet guaranteed.

High rise buildings in Nanjing, in eastern China’s Jiangsu province, on May 24, 2025. Photo: AFP
Yuan

London Clearing House accepts dim sum bonds as non-cash collateral

Bank of China led the roll-out of the yuan-denominated assets, with three of its overseas units executing the first transactions.

Global monetary policy

Amid rising dollar risks, Plaza Accord-style unity not feasible: ex-IMF adviser

Economic historian Barry Eichengreen says if current policy paths persist, modern rifts could bring about a confidence crisis in the US currency.

Hong Kong property

‘Good time to enter market’: rebates rise as Hong Kong property demand recovers

Mortgage battle intensifies as lenders raise cash rebates to lure buyers amid Fed rate uncertainty.

Banks are competing more aggressively for business after the property market gained momentum this year. Photo: Karma Lo
Hong Kong stock market

Futu expects mainland business to shrink but vows to keep Hong Kong outlets

The company says it sees the CSRC’s crackdown as a ‘industry-wide issue’ rather than a penalty targeting Futu alone.

Futu’s flagship store in Hong Kong’s busy Causeway Bay shopping district, on May 26, 2026. Photo: Sam Tsang
Asia housing and property

The View | Why Chinese wealth is still powering Hong Kong and Singapore property

The draw of safe-haven assets in these cities sees more Chinese becoming permanent residents – a trend Beijing’s clampdown on capital outflows may even encourage.

China stock market

Chinese hard tech giants see market value surge as overseas capital pours in

Under the mainland-Hong Kong Connect programme, northbound holdings rise to record high of 3.13 trillion yuan by end of June.

HSBC

Will Hong Kong’s board-lot reform bump HSBC’s share turnover?

The minimum investment of nearly US$8,000 for one of Hongkongers’ favourite stocks is set to drop. The question is how low it will go.

XXXXXXX Photo: Karma Lo
Hong Kong economy

Gulf capital flowing into Asia as trade with Hong Kong rises 35%: Paul Chan

Finance chief says bilateral trade surged in first five months of 2026 following deepening of ties in recent years.

Financial Secretary Paul Chan (centre) attends the opening ceremony of LEAP East 2026 in Wan Chai. Photo: Sam Tsang
China stock market

Star Market at 7: tech-centric exchange powers China’s innovation rise

Attracting capital behind breakthroughs in frontier fields, the market is a key part of Beijing’s drive for technology self-reliance.

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Hong Kong economy

Opinion | Hong Kong can be the Asia-Pacific’s longevity hub

City has unique conditions to be the premier regional hub for longevity research, clinical trials, regulatory approval and capital scaling.

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