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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 signboard of China Zheshang Bank is seen at its branch in Beijing on March 14, 2016. Regulators have now tightened oversight of the bank. Photo: Reuters
Financial regulation

China puts another big bank under stricter watch – why now?

Beijing continues to impose stricter regulatory standards on major lenders, shielding the financial system from mounting strains.

US Treasury

Opinion | Why Asia’s sovereign wealth funds are rethinking US Treasuries

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China consumption

China’s gold rush: why families are doubling down on precious metals

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Japan

Macroscope | How robust domestic financial markets could ease era of AI uncertainty

Attempts to develop financial centres must go beyond luring global capital and talent.

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A man walks past ATM booths for Japan’s mega banks, Sumitomo Mitsui Banking Corporation, left, and Bank of Tokyo-Mitsubishi UFJ, in Tokyo, on February 6. Photo: Reuters
China's economic recovery

As Chinese provinces slash revenue outlook, analysts warn of debt control

Local governments seen curbing infrastructure spending as Beijing’s fiscal discipline pushes regions to prioritise social services and tech over large projects.

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Bitcoin

Crypto rout set to deepen as Standard Chartered warns of further downside risks

Bank expects a ‘price capitulation in the next few months’ before recovering for the rest of the year.

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China’s crackdowns

Gold rush backlash: why China is clamping down on ‘get rich’ promises

Regulators intervene to contain fallout after volatility in global prices sparks market turmoil at home.

Decorative items made of gold are displayed at a jewellery store in Beijing on January 28. Photo: EPA-EFE
China-Africa relations

As China seeks to globalise the yuan, it finds a new vehicle in Africa

Africa Finance Corporation executive says entering Chinese capital markets is a ‘natural evolution’.

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Millionaires and billionaires

Li Ka-shing tops Hong Kong’s billionaire list with US$45.1 billion: Forbes

The collective net worth of tycoons on Hong Kong’s 50 Richest list rose 22 per cent to US$366 billion.

Hong Kong Monetary Authority (HKMA)

Hong Kong banks’ profit growth slows amid rising bad debt, slim margins

Profit growth slows to 7.3 per cent from 8.4 per cent a year earlier as bad loans exceed two-decade average, HKMA says.

The headquarters of Standard Chartered Bank and HSBC are seen in Central on March 23, 2025. Photo: Eugene Lee
Cryptocurrency

Hong Kong bridges traditional, digital finance with new virtual asset initiatives

The first initiative will allow licensed virtual asset brokers to offer margin financing to clients with strong credit profiles.

Hong Kong’s SFC unveiled new initiatives on Wednesday aimed at further developing the city’s virtual asset sector. Photo: Shutterstock Images
Yuan

China lets yuan rise to strongest level in years as de-dollarisation trend grows

China’s central bank sets the yuan’s midpoint rate at its strongest level since mid-2023, as jitters over the US dollar buoy the Chinese currency.

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Hong Kong stock market

WuXi Biologics earnings jump as ‘follow and win the molecule’ strategy pays off

Chinese contract drug maker forecasts 46.3 per cent profit rise and signals continued growth despite US political scrutiny.

Fintech

Indonesia turns to digital finance to reach unbanked population

With millions still lacking access to banking services, Indonesia is drawing on regional lessons and forging international partnerships.

A teller prepares rupiah bank notes at a money changer in Jakarta, Indonesia, on April 9, 2025. The Southeast Asian nation has one of the world’s largest populations without access to banking services. Photo: Reuters
Mainland China

China’s property woes likely to hurt some Hong Kong banks’ 2025 earnings: Citi

Bank of China (Hong Kong) and Bank of East Asia could be affected the most as they have the highest exposure to China’s property sector.

Residential buildings in Beijing’s Chaoyang Park on January 6, 2026. Photo: AP Photo
Family offices

Hong Kong adds 681 family offices as wealthy shift focus from US: Deloitte

The auditing firm’s survey shows a 25 per cent increase in the city’s single-family offices over two years, with the affluent wary of US volatility.

Biomedicine: Industry Trends

Mainland China’s investors pour into Hong Kong-listed drug stocks

An index tracking Stock Connect buying of 40 mainland drug firms gains 9 per cent in a week as China’s industry heft grows.

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Shanghai

China slashes wait times for loss-making tech firms seeking refinancing, fundraising

Three of China’s stock exchanges have relaxed fundraising time thresholds on listed tech companies as Beijing pushes for self-reliance.

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People walk past the Shanghai Stock Exchange Building in Shanghai, China. Photo: EPA-EFE
Cryptocurrency

Scams and outflows: why China slammed the door on real-world asset tokens

Beijing’s clampdown aims to help safeguard financial security and monetary sovereignty while leaving room for regulated fintech innovation in Hong Kong.

Mergers & Acquisitions

M&A market ‘firing on all cylinders’, headed for record year: Citigroup

Confident companies and investors, solid economic growth, low inflation and ample capital drive outlook, bank’s global M&A co-head says.

Bonds

Hong Kong firms rush to issue convertibles – and trend could continue: bankers

Issuers raised US$7.4 billion in convertibles in early 2026, nearly half of last year’s total, as they rushed to lock in high share prices.

The number of companies rushing to issue convertible bonds is growing even as the Lunar New Year approaches, according to market players. Photo: Getty Images
Hong Kong stock market

Hong Kong urged to widen Stock Connect and woo global firms to boost listings

City should pitch Southeast Asia, Middle East to draw global listings and issue long-term bonds to attract patient capital, think tank says.

FSDC executive director Rocky Tung says while Hong Kong has been a major listing venue for mainland firms, international companies remain a minority on the local bourse. Photo: Enoch Yiu
China-Singapore relations

Will Hong Kong, Singapore capture Asia’s capital inflows? DBS CEO weighs in

The two financial hubs are best choices for global investors seeking to diversify their portfolios amid geopolitical risks, Tan Su Shan says.

Mainland China

Farmers’ son banker Xu Yiding under probe by China’s anti-corruption watchdog

The Agricultural Development Bank of China vice-president was once held up as a model figure for finance-driven poverty reduction.

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Hong Kong property

How Hong Kong’s headquarters economy fuels rebound in commercial property

The headquarters economy is powering office and retail recovery, with rising demand, stabilising rents and renewed investor confidence.

The city’s office market showed signs of stability in 2025. Photo: SCMP
Hong Kong property

How 2 landmark Central deals boost sentiment in Hong Kong’s office market

JLL’s Alex Barnes and his team closed decade-high single-tenant leases – deals that took on wider significance as rental declines slowed.

Alex Barnes says the two big deals “certainly put a stake in the ground that signified the market has bottomed”. Photo: Edmond So
Chinese overseas

As China intensifies offshore tax hunt, exporters struggle with compliance

Beijing leverages big data and global info exchange to chase undeclared overseas wealth, with fiscal needs seen driving the push, forcing compliance across sectors.

Central banks

Macroscope | Trump-Takaichi meddling in finance spells more turbulence ahead

The two leaders’ moves into economics despite their lack of knowledge threaten to further destabilise global finance and inflate debt levels.

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