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Banking & finance
News about the global financial industry with a focus on developments in Hong Kong and China.
Illustration: Lau Ka-kuen
Yuan

Exclusive | Daniel Gros on what China can learn from the euro as it works for a global yuan

Former European economic adviser says Beijing’s bid to build an international currency will hinge on leaders allowing it to fluctuate freely.

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China economy

Opinion | For the US dollar, a subtler shift than a ‘petroyuan’ order is underfoot

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Hong Kong economy

IPO market ‘raises HK$140 billion’ as Hong Kong renews gold trading push

Hong Kong economy

Opinion | To be the world No 2 financial centre, Hong Kong must be a rule maker

In a fragmenting world where the old financial order is being renegotiated, the greater prize goes to those who help set the new standards.

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Hong Kong’s Central district on February 25. Hong Kong has spent decades proving it can operate at the world’s highest standards, in financial regulation, legal infrastructure and institutional quality. Photo: Jelly Tse
Stocks

Macroscope | The real reason stock markets are still flying high despite grave risks

For all the talk of market resilience, too much portfolio investment is chasing too few real-world investment areas.

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China property

Default in our stars: China banks use satellites to track assets, cut loan risks

Analysts say orbital monitoring of sites, property and other assets provides vital data on borrowers.

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United States

US drops criminal probe of Fed chair Powell, likely clearing way for Warsh

Judge James Boasberg, said prosecutors had produced ‘essentially zero evidence’ to suspect Powell of a crime.

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US Federal Reserve Chair Jerome Powell speaks during a press conference following the Federal Open Market Committee meeting at the Federal Reserve Board Building in Washington, DC, on March 18. Photo: AFP
China consumption

Beijing ramps up tax crackdown, frames consumption levies as fiscal lifelines

Authorities target retailers, shell companies and off-the-books manoeuvres to lessen tax liabilities.

Bonds

China opens government bond futures to select foreign investors in reform push

Qualified foreign investors can trade government bond futures, enhancing market access and boosting the yuan’s appeal amid global tensions.

IA

Life insurance sales in Hong Kong hit record amid ‘rise of millionaires’

Industry wrote US$42.2 billion in new life policies last year, ‘capturing both onshore and offshore demand across Asia’, HSBC Life CEO says.

People walk through Central during the lunch hour on January 30, 2026. Photo: Karma Lo
Stock Connect

Brazil beckoned: China now has stock and bond ‘connect’ schemes in 5 regions

Strategic financial corridors now bridge mainland bourses with global hubs, enabling more seamless investment through specialised fund vehicles and receipts.

An electronic board is seen at the Sao Paulo Stock Exchange in Brazil. Photo: AFP
Artificial intelligence

Why Anthropic’s Mythos has energised China’s cybersecurity industry

Following the Mythos announcement on April 7, shares of major Chinese cybersecurity firms rose for several consecutive days.

Cryptocurrency

Chinese economist Fu Peng hails crypto’s historic rise as he joins Bitfire

The crypto asset management firm acquires a trading system and hires a team of 20 people from Avenir Group for US$1.6 million.

China trade

Open Questions | Euro, yuan unlikely to match US dollar, Daniel Gros says

German economist doubts EU and Chinese currencies will be widely used for international trade or that stablecoins will take off outside the ‘shadow economy’.

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Illustration: Lau Ka-kuen
Hong Kong economy

Opinion | Hong Kong’s stablecoin roll-out puts banks at the centre of digital money

Hong Kong is building a bank-led digital money system, not a cryptocurrency free-for-all.

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Bank and commercial buildings dot the skyline in Hong Kong’s Central business district in 2020. Photo: Sun Yeung
Mainland China

HKMA and HKAB launch task force for Hong Kong’s Northern Metropolis financing

The task force will provide professional advice on financing and banking services for the development of the megaproject.

HKEX

Hong Kong, Malaysia exchanges to team up on ETFs, listings, Islamic finance

Development ‘underscores growing demand from investors for cross-border products and diversified regional exposure’, HKEX CEO says.

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Biomedicine: Companies

Biotech-led boom as 8 China firms flock to Hong Kong’s thriving stock market

AI-powered drug developer Metis TechBio leads group that includes developers of autonomous driving technology and industrial robots.

Healthcare led liquidity growth on the Hong Kong stock market over the past decade, with trading turnover for the sector surging more than 11-fold between 2015 and 2025. Photo: Shutterstock
US Federal Reserve

America First Fed? Trump pick Warsh signals ‘monetary sovereignty’: analysts

Potential successor to Jerome Powell may pursue policies that pressure US dollar-driven assets and curb global liquidity, analysts say.

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Hong Kong

Hong Kong IPOs lure mainland China insurers seeking higher returns

Beijing’s emphasis on patient capital and market stability spurs mainland China’s insurers to channel funds into Hong Kong listings.

Mainland China

Greater China private equity set for patchy recovery, modest fundraising boost

China’s private equity market recovers selectively amid geopolitical tensions, with yuan funds leading and exits reaching record highs.

Greater China private equity deal volume and value rose for a second consecutive year in 2025. Photo: dpa
United States

Trump’s pick for Fed chief, calls for ‘regime change’ at US central bank

The remarks were made at a contentious confirmation hearing, which took place amid a criminal probe of current chair Jerome Powell.

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Kevin Warsh, US President Donald Trump’s nominee for Chair of the Federal Reserve, testifies in Washington on Tuesday. Photo: AFP
HSBC

No records, no role: HSBC, StanChart reject Iran-linked money laundering claim

HSBC chairman Brendan Nelson says bank is not a party to alleged Iran-linked case and holds no records, as US court seeks information.

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SCMP

State Street Institutional Press Awards honour SCMP business journalists

SCMP veteran Enoch Yiu received the Outstanding Contribution to Institutional Journalism Award for a nearly 30-year commitment to the field.

Hong Kong stock market

Premium for mainland China shares erodes or flips as Hong Kong draws capital

In the case of ‘hard’ technology firms like CATL and GigaDevice Semiconductor, the A-H premium becomes an H-A premium.

An index tracking the long-standing premium for A shares over H shares is down significantly from a February 2024 high. Photo: Jelly Tse
IPO

Victory Giant skyrockets after biggest Hong Kong IPO this year

The Nvidia supplier jumped on its trading debut, underscoring demand for AI hardware stocks and the resilience of Hong Kong IPO demand amid Middle East upheavals.

Victory Giant Chairman Chen Tao and his wife Non-Executive Director Liu Chunlan. Photo: AFP
China stock market

Outlook for China stocks brightens on capital flows, rebounding home prices

Resilience shown since start of Middle East war likely to continue amid haven demand, according to fund managers and investment banks.

IPO

Chinese circuit-board supplier Victory Giant jumps 57% in Hong Kong share debut

Nvidia supplier raises US$2.6 billion in its IPO as investors rush to cash in on the AI infrastructure boom.

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