Financial Services
HKMA raises its base rate to 5.25%
The new rate took effect on 23 March.
6 days ago
Hong Kong government issues first tokenised green bond
HKMA issued HKD tokens, which were exchanged for fiat money provided by banks.
6 days ago
Outstanding credit card balances went up 7.3% YoY in Q4 22
It indicates that consumers are reengaged to the market.
Pay for workers in finance industries to increase by 3.8% and up in 2023
This is likely because there will be a “greater focus” on finance tech industries this year.
Why GBA consumers invest in Hong Kong
Most (78%) cite higher returns than on the Mainland.
HK is 5th most crypto-ready market
The city’s crypto adoption rate is 16%.
China reopening to lift Hong Kong banks’ earnings: Fitch
Fitch Ratings expect higher net interest income and NIM.
Composite interest rate rises to 2.17% in January
It is because of increased weighted funding costs for deposits.
Property authority issues note to improve transparency of financing plans for homebuyers
The authority reminded purchasers that only written agreements are binding.
Gov’t offers $800m of tokenized green bonds
It is under the government green bond programme.
Hong Kong govt appoints advisers for attracting firms
The new members will help the Financial Secretary plan and compete for high-potential enterprises.
Citigroup offering $2.35b in cash-settled exchangeable bonds to AIA Group
The bonds are due on 26 February 2026.
Foreign currency reserves hit US$436.9b in January
It expanded from the US$436.9b record in December.
HKMA raises its base rate to 5.00%
The new rate took effect on 2 February.
HK is 7th most crypto-ready market in the world
The city is home to 251 crypto-based companies.
Exchange Fund posts investment loss of $202.4b in 2022
It also ended the year with a negative investment return of 4.4%.
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