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Financial regulation

Financial regulation
Key developments in regulation of financial markets with a focus on those in Hong Kong and mainland China.
Wu Qing, chairman of the China Securities Regulatory Commission, speaks at a press conference on the sidelines of the National People’s Congress in Beijing in March. Photo: Reuters
Wealth management

China will enhance regulation of programme trading: CSRC chairman

China’s top securities regulator says new measures needed to ‘prevent someone from abusing the technology’.

Banking & finance

Hong Kong banks tighten rules in mainland China as Beijing pores over outflows

Banking & finance

China appoints top regulatory official as financial clean-up drive continues

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Chinese offshore investment

Going global? Here’s a quick look at 4 options for China’s offshore investors

As Beijing tightens its grip on unlicensed stock platforms, mainland China’s retail players utilise these state-sanctioned options to diversify globally.

Mainland China’s retail investors have four primary legal avenues to diversify their portfolios overseas. Photo: Shutterstock
Banking & finance

Mainland Chinese react as Hong Kong tightens access to offshore investing routes

Banks have been ordered to step up checks, part of wider efforts to strengthen oversight of cross-border capital flows.

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China stock market

China’s brokerage crackdown: banks cut forecasts for Futu, Tiger

CCB and Goldman Sachs slash brokerage valuations, profit forecasts after regulatory action on unauthorised cross-border trading.

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Stablecoins

Letters | Mind the gap between Hong Kong digital asset policy and practice

Readers discuss digital asset audits, the danger of setting a ride-hailing cap, and the bigger picture on allowing dogs in restaurants.

Sam Bankman-Fried, founder of collapsed cryptocurrency exchange FTX, leaves Manhattan federal court in New York in 2023. Photo: AP
Banking & finance

Editorial | Cross-border crackdown part of keeping China’s capital market stable

The penalties handed out to leading brokerages are harsh, but Beijing must show it means business as it cleans up China’s capital market.

Hong Kong stock market

US$32b worth of Hong Kong assets involved in transborder trade crackdown: Citic

The assets involve a crackdown on Futu, Tiger Brokers and Long Bridge for offering mainland Chinese investors access to unlicensed trading.

Hong Kong economy

Hong Kong’s Paul Chan urges closer Europe ties, dialogue to work out differences

Finance chief says opportunities exist to tap city’s capital markets, while acknowledging concerns over trade imbalances.

Finance chief Paul Chan (right) holds talks with the European Commission’s Alexandra Jour-Schroeder (second left) in Brussels. Photo: Handout
US-China relations

Two Chinese nationals charged in US drug cartel money-laundering case

Prosecutors say pair used mirror transfers, encrypted apps and trade schemes to launder cartel drug profits globally.

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US prosecutors said co-conspirators operating across the US, Mexico, Latin America and China allegedly laundered proceeds from trafficking narcotics including fentanyl and cocaine. Photo: Reuters
Singapore

Singapore shines as a stable investment oasis in a global storm

Wealthy families are trading global uncertainty for Singapore’s regulatory rigour, driving record inflows and a revitalised stock exchange.

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Banking & finance

Wall Street giants lead China-profit surge despite market polarisation

Major investment banks expand market share in China, with Goldman reclaiming the revenue lead while Shengang keeps its asset crown.

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Hong Kong courts

Hong Kong ‘block trade king’ exploited bank lapse to make HK$1.7m, court told

Prosecutors allege Simon Sadler and Daniel La Rocca used confidential information about planned block trade to sell more than 1.7 million Esprit shares.

The trial before Judge Josiah Lam is scheduled to last 25 days. Photo: SCMP
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
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.

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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Banking & finance

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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Kevin Warsh, nominee for US Federal Reserve chair, testifies on Tuesday during a Senate Banking Committee hearing in Washington. Photo: TNS
Banking & finance

HKEX proposes halving settlement cycle to boost Hong Kong’s financial profile

Bourse operator launches a consultation on shortening the share settlement cycle to one day, aiming to implement the reform in late 2027.

Yuan

China boosts overseas-loan quotas as ‘panda bond’ issuance hits record high

Beijing’s move to lift offshore-loan quotas seen helping stabilise yuan against weaker US dollar while accommodating a surge in net financing via ‘panda bonds’.

Hong Kong economy

Hong Kong balancing security and innovation as nation’s ‘firewall’: Paul Chan

Finance chief says security is key to China’s high-quality growth as geopolitical tensions create risks to energy supplies and financial markets.

The Central financial district in Hong Kong. Finance chief Paul Chan says the concept of national security is intertwined with various fields, such as finance, energy, technology, food and overseas interests. Photo: Jelly Tse
Banking & finance

Calls grow for HKMA to go further on stablecoins after conservative first batch

Analysts and investors say the HKMA’s cautious approach prioritises risk control, but limits Hong Kong’s digital asset ambitions.

Analysts say the HKMA has prioritised risk management , even as it seeks to promote financial innovation through stablecoins. Photo: Jonathan Wong
Hong Kong stock market

Can Hong Kong’s listing reform 2.0 win over innovative firms?

The reforms enhance the city’s appeal for AI, biotech and other firms by slashing the market cap threshold and enabling confidential filings.

China stock market

China tightens trading scrutiny on major shareholders and executives

New CSRC rules curb short-term trading by major shareholders to boost investor confidence and encourage long-term market participation.

Banking & finance

Editorial | Stablecoin launch delay shows Hong Kong would rather be safe than sorry

Given the complexity involved, it’s wise not to rush to meet any self-imposed deadline but to make sure a good framework is in place first.

Hong Kong plans to be a digital asset hub with stablecoins playing a key role. Photo: Shutterstock
Banking & finance

Opinion | From the US to Hong Kong, there’s no excuse for insider trading

Far from a victimless crime, insider trading steals from the rest of us by unfairly using knowledge that is available only to the privileged.

US President Donald Trump and first lady Melania at the Kennedy Centre for the opening night of the musical Chicago on March 31. Oil trades spiked by half a billion dollars minutes before Trump posted a pause on the US attack on Iranian energy sites. Photo: Getty Images via AFP
Banking & finance

Hong Kong’s anticipated stablecoin licence by end-March does not materialise

Analysts say the delay is most likely administrative and that the overall plan is still on track.

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US-China relations

Open Questions | Euro, Chinese yuan to end US dollar dominance, top economist says

Kenneth Rogoff sees yuan as a reserve currency within five years, Europe asserting financial independence and greater regulation of stablecoins.

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