Financial Services
China's ultra rich set to boost Hong Kong wealth assets by 50% in 2023
China's ultra rich set to boost Hong Kong wealth assets by 50% in 2023
HNWIs from the Mainland are edging out AuM from other APAC markets.
Hong Kong inks fintech cooperation deal with Brazil
The two central banks will share information and lead joint innovation projects.
Hang Seng Bank launches all-in-one payment collection service for merchants
Merchants may soon accept several payment methods through one integrated point-of-sale terminal.
Number of mortgage accounts up 7.6% to 532,000 in Q2
The number of mortgage inquiries also hit a three-year high.
Millennials drive credit card growth as average balance hits $39,000 in Q2
They hold a fourth of the city’s total card balances.
Fosun International to list Club Med unit in Hong Kong
The company plans to raise up to US$700m.
Hong Kong shakes up lending in long-overdue virtual banking push
Fintechs and telco firms are lining up to get a cut of the city's banking market.
Court of Final Appeal upholds regulatory action against Moody's
Moody’s published a 2011 report that flagged risks at certain Chinese companies.
Exchange Fund assets up to $4.14t in July
Both foreign currency and Hong Kong dollar assets rose.
Hong Kong and Singapore private banks wage war for wealth managers to lure Asia's crazy rich
Banks are willing to offer pay hikes between 30-45% to secure the best talent.
Hong Kong's aggregate balance expected to hold above $50b in end-September
The HKMA drained further liquidity after buying $14.57b last week.
What are the key risks to buoyant Hong Kong banks?
Intricate Mainland ties are both boon and bane.
World's largest lithium metals producer files for Hong Kong IPO
Ganfeng Lithium plans to raise up to US$1b in its flotation.
Bank lending slows to 9.5% in July amidst threats of higher borrowing costs
This represents the slowest pace of growth in over one and a half years.
Approved mortgage loans rally 9% to $44.3b in July
This comes from a mild 4.8% growth in June.
Chinese payment service firm Yeepay eyes Hong Kong IPO
Its planned share sale could raise about US$200m.
Standard Chartered sets up new entity to support virtual bank ambitions
Deniz Güven has been appointed as its CEO.
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