3 h. ago How an SCO development bank could shift the global financial order

At the 25th Shanghai Cooperation Organisation summit in Tianjin this week, Chinese President Xi Jinping urged member states to accelerate the creation of an SCO development bank, a proposal that could mark a turning point in Asia’s financial landscape. While headlines focused on the high-profile presence of Russian President Vladimir Putin and Indian Prime Minister Narendra Modi, Xi’s proposal points to the SCO’s evolution from a security bloc into a financial actor. Xi also pledged US$1.4...

Economics

68 h. ago ‘Hong Kong Inc’ concept needed even as tourist numbers rocket, forum told

New cultural and sports venues have helped to attract visitors, with tourist numbers for August hitting a post-Covid high, but the city needs a “Hong Kong Inc” movement to elevate its brand on the world stage, a forum has heard. Speakers at the Redefining Hong Kong conference on culture, sports and tourism, hosted by the South China Morning Post on Monday, said that the city was still struggling with global brand recognition and faced major financial challenges in sustaining its arts...

Events

2 d. ago At summit, China’s Xi announces talent scheme, calls for SCO development bank

This live blog has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. New users who download our updated app get a seven-day free trial. China is hosting the annual Shanghai Cooperation Organisation (SCO) summit in the northern port city of Tianjin, to be attended by dozens of world leaders and chiefs of international organisations. On Monday, President Xi Jinping kicked off the official meeting with leaders of SCO member...

Politics

4 d. ago China’s stock market outpaces global peers as local investors pile in

China’s stock market outpaces global peers as local investors pile in  Financial Times

Economics

1 week ago Hong Kong can find its niche in Greater Bay Area climate resilience

The Greater Bay Area development zone is one of the most economically dynamic regions in the world. With a population of over 86 million and a gross domestic product of around US$2 trillion, it connects global manufacturing hubs, financial centres, technology clusters and tourism destinations. As Hong Kong, Macau and Guangdong province become more integrated, they are also becoming more exposed to shared risks from extreme weather events. A disruption in one jurisdiction can quickly cascade...

Politics

3 w. ago China announces to take countermeasures against two EU financial institutions, effective Wednesday

China announces to take countermeasures against two EU financial institutions, effective Wednesday  Global Times

Economics