Financial Services
HK ranks 3rd in global financial centres index
HK ranks 3rd in global financial centres index
It also ranked first in the Asia Pacific region.
Hong Kong has climbed to third place in the latest Global Financial Centres Index 36 Report from...
HKMA reduces base rate to 5.25% in response to US Fed rate cut
The US Fed imposed a 50bps cut to its federal funds rate.
Hong Kong leads crypto market growth in Eastern Asia at 85.6%
The growth was fueled by the country’s supportive regulatory frameworks.
HK launches $10b scheme to boost smart production facilities
The government will provide the funding through investments on a 1:2 basis.
Hong Kong ranks second most crypto-friendly country, leading in economic stability: report
Hong Kong ranked first in one of six parameters in the index.
Foreign currency reserve assets reached US$423.4b in August
This is higher than the US$419.1b recorded in July.
9 in 10 GBA companies see Hong Kong as a key sustainable development facilitator
99% of Mainland businesses committed to sustainable investment choose Hong Kong as a source for related professional services
Gen Z consumers, travel spending boost credit market growth in Q2 2024
GDP and export growth also supported the stable credit market in Q2 2024.
IDA bags $46.8m funding to launch first fiat-referenced stablecoin
The firm anticipates mainnet launch before year-end.
Mortgage loans up 1.5% MoM in July
Mortgage loans approved in July total $24.8b.
HKMA launches sandbox to accelerate tokenisation adoption
The sandbox will facilitate interbank settlement using experimental tokenised money.
MTR rolls out contactless payment for Mastercard holders
Each station in the MTR heavy rail network, except Airport Express stations, has at least two entry/exit gates with contactless payments.
Credit card receivables fall 0.2% QoQ to $151.2b in Q2
Year-on-year, however, it rose by 4.9%.
Aspire enters HK to support expanding SMEs with multi-currency needs
Seven in 10 companies in Hong Kong plan to expand operations overseas.
Foreign currency reserves hit US$419.3b in July
It rose from the US$416.3b record in June.
Hong Kong’s foreign currency reserve assets rose to $3.26t (US$419.3b) in July 2024, compared to last...
Virtual banks in Hong Kong thrive with 2.2 million depositors in 2023
Hong Kong's eight licensed virtual banks experienced modest growth over the past three years.
Hong Kong a ‘pivotal global financial hub’: Knight Frank
Its urban prosperity is the best amongst new wealth hubs.
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