Financial Services
Two-thirds of Hong Kong entrepreneurs lack plans for wealth transfer
Two-thirds of Hong Kong entrepreneurs lack plans for wealth transfer
Entrepreneurs in Hong Kong lag global peers in succession strategies.
HK launches $20b retail infrastructure bond
It will be available in lots priced at $10,000 and a tenor of three years.
HKMA announces $1.5b tender for floating notes
Minimum tender amounts start at $50,000.
9 in 10 HK consumers won’t shop without preferred payment method
Four out of 10 shoppers also want payment authentications without redirects.
HKMA reduces base rate to 5% in response to US Fed rate cut
The US Fed imposed a 25bps cut to its federal funds rate.
HENRYs seeking loans surge 60% as living costs climb
The borrowers primarily applied for loans to repay debts and fund business expansions.
Foreign currency reserves hit US$21.4b in October
It decreased from US$422.8b in September.
Gov't rolls out finance course for seniors under Elder Academy scheme
It aims to expand the course to about 180 elder academies over the next three years.
4 in 5 SMEs report easier bank credit approvals in Q3
Some, however, said the process was more difficult.
Victory Securities to market virtual asset structured products
These products enable investors to have higher potential returns.
14 HK firms gain approval to join GBA wealth scheme
They can now offer cross-boundary investment services to GBA investors.
FCC Analytics taps Airstar and livi bank for federated learning AML
The initiative aims to enhance interbank cooperation whilst maintaining data privacy.
Hong Kong to issue more crypto licenses by year-end
Three virtual asset trading platforms are already licensed.
Hong Kong launches task force to reinforce asset, wealth hub stats
Hong Kong's assets under management exceeded $31t by the end of 2023.
HKMA issues RMB1b 3-year bonds at 2.13%
The bonds received RMB7.212b tender applications.
HK to ‘future-proof’ financial system for long-term sustainability
Total banking deposits in Hong Kong have grown by 5%.
HK to subsidise 7 Guangdong residential care homes
This increases the number of care homes under the scheme to 11.
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