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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.
Memory-chip maker CXMT's coming IPO on Shanghai's Star Market has drawn an enthusiastic response from both retail and professional investors. Photo: Reuters
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

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Biomedicine: Companies

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

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.

Clara Chan Ka-chai, CEO of the Hong Kong Investment Corporation (HKIC), speaks during the International Forum for Patient Capital in Hong Kong last May. Photo: Jonathan Wong
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.

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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.

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.

Yuan notes. Photo: Getty Images
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.

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.

A view of residential buildings in Hong Kong. In Hong Kong and Singapore, many mainland Chinese buyers have become a key source of domestic demand in the property market. Photo: Reuters
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.

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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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IPO

Shein receives approval for Hong Kong IPO from Chinese regulators

Beijing clears the online retail giant to seek an initial public offering in Hong Kong, after its plans to float in London and New York hit a dead end.

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Customers carrying bags of shopping leave the Shein store in Paris in November. Photo: dpa
Cryptocurrency

Why Payward chose Hong Kong to be its Asian stablecoin gateway

By setting clear rules, Hong Kong is pushing to become the world’s safest launch pad for the digital currency.

Daren Guo (L), co-founder at Reap, and Arjun Sethi, Co-CEO of Payward and Kraken. Photo: Handout
Hong Kong stock market

China’s appeal as portfolio diversifier grows: BlackRock strategist

‘China can provide exposure to different economic drivers,’ says Li Wei, the asset manager’s global chief investment strategist.

IPO

Hong Kong exchange lures listings from Canada, Indonesia, Kazakhstan

Bourse expected to see influx of international issuers in year’s second half, led by consumer goods and services companies, according to PwC.

Yuan

How the RMB Business Facility will help consolidate Hong Kong’s financial role

Quota expanded to 500 billion yuan from Friday, with tenor increased to two to three years, up from one.

Chinese 100-yuan notes at a Bank of China branch in Hong Kong. Photo: Reuters
Good Schools Guide

Hong Kong’s Gen Alpha is learning about managing money

Financial literacy is being shaped at home, in classrooms and through gamified tools in a bid to help children make smarter money choices.

Gen Alpha children are influencing household spending earlier than previous generations. Photo: Jocelyn Tam
China’s private sector

Chinese firms look to strike gold in a volatile global metals market

Futures brokerages and exchanges aim to grow their market footprint and offer more efficient hedging tools in the global commodity market.

IPO

Hong Kong small-cap IPOs struggle as market chases megadeals like Zhipu AI

Smaller firms face a liquidity squeeze amid AI-related stock profit-taking, which drags down IPO market sentiment.

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