92 m. ago New stablecoin law to enhance Hong Kong’s financial appeal to global issuers: Chan

The expected increase in market demand for stablecoins will encourage licensed institutions overseas to issue such cryptocurrencies in Hong Kong, boosting competitiveness, according to the city’s financial chief as it prepares for its regulatory regime to take effect in August. In his weekly blog on Sunday, Financial Secretary Paul Chan Mo-po said that the city market value of stablecoins globally was estimated at around US$240 billion, with trading volume exceeding US$20 trillion last...

Politics

25 h. ago How the obsession with risky assets is putting global finance in peril

Fashionable, frivolous or downright foolish? Which of these words best describes the trend in markets toward derivatives, cryptocurrencies, digital assets and tokens as supplements or alternatives to traditional finance? Where is this great “paper chase” leading? For one thing, it is likely to be causing a flight into gold. But unless gold is remonetised and mining output is stepped up sharply, that trend could lead to deflation and limited economic growth. So a retreat to sustainable safety...

Events

3 d. ago China’s Ant International to seek stablecoin licence in Hong Kong

Fintech firm Ant International, the global affiliate of Chinese tech giant Ant Group, said it would apply for a stablecoin issuer licence in Hong Kong once the new ordinance governing fiat-backed cryptocurrencies comes into effect in August. “We welcome the passage of the Stablecoins Bill and hope to contribute more to the city’s vision as a global hub for next-gen finance,” Ant International said in a statement on Thursday. “We plan to apply for the fiat-referenced stablecoins issuer’s...

Politics

3 d. ago Ant International and Ant Digital to seek stablecoin licences in Hong Kong

Singapore-based Ant International and the Hangzhou-based Ant Digital, two affiliates of Chinese tech giant Ant Group, have announced plans to apply for stablecoin issuer licences in Hong Kong once the new ordinance governing fiat-backed cryptocurrencies takes effect in August. “We welcome the passage of the Stablecoins Bill and hope to contribute more to the city’s vision as a global hub for next-gen finance,” Ant International, a spin-off of Ant’s global operations, said in a statement on...

Politics

3 d. ago With early stablecoin law, Hong Kong looks to keep edge as finance hub

With the passage of one of the world’s most comprehensive stablecoin laws two weeks ago, Hong Kong is looking to stay at the forefront of global finance while addressing lessons from past industry setbacks, according to analysts. Being a “first mover” in stablecoin legislation “reflects the determination” of the city’s government to “unlock value that they see in this sector, given the number of hurdles from past incidents”, said Melvin Deng, CEO of digital asset trading firm QCP Capital. Hong...

Politics

3 d. ago US venture capital firm to unload stakes in 40 Chinese tech start

Shares of a few dozen China-based start-ups may be up for grabs as their investor, US venture-capital firm Eight Roads, plans to exit its Chinese technology holdings. The move, reported by Bloomberg on Tuesday, comes as geopolitical tensions and a sluggish Chinese economy prompt some global investors to retreat. Domestic and government-backed funds and financing products would increasingly drive start-up funding in the world’s second-largest economy, analysts said. Fidelity Ventures-backed Eight...

Politics

6 d. ago Hibor plunge a bigger deal for stock market than Hong Kong’s property sector

Hong Kong needs all the help it can get. Since 2018, the city has suffered one shock after another, preventing a meaningful recovery from taking hold and fuelling concerns about its position as a global financial centre. As an importer of US monetary policy with an economy that is far more synchronised with that of mainland China, Hong Kong has been the biggest casualty of economic and policy divergence between the world’s two largest economies, prompting renewed questions about the suitability...

Economics

8 d. ago Step aside Shanghai, Hong Kong is China’s prize financial hub

When Yan Jun was looking around last year for a stock market to raise capital for his Beijing-based traffic-control software company, the engineer and chairman thought he was spoiled for choice. He could sell shares of his 10-year-old company AICT on one of the three mainland exchanges – Beijing, Shanghai and Shenzhen – that together make up the world’s second-biggest capital market, with a combined value of US$10 trillion, according to Bloomberg data. Or he could raise capital offshore by...

Politics

9 d. ago US Senate panel passes Taiwan, mainland China overseas military growth measures

The US Senate Foreign Relations Committee approved a slate of China-focused measures on Thursday, including bipartisan bills to counter Beijing’s overseas military expansion and bolster Taiwan’s role in global finance while advancing the nomination of a former ambassador to lead US diplomacy in East Asia. The Counter Act of 2025, co-authored by Senators Chris Coons, Democrat of Delaware, and Pete Ricketts, Republican of Nebraska, calls on the US government to develop a strategy to respond to the...

Events

1 week ago Citi to cut 3,500 technology jobs in China as part of global revamp

Citi to cut 3,500 technology jobs in China as part of global revamp  Yahoo Finance

Politics

2 w. ago Use Trump’s ego to clear a path for global financial rebalancing

US President Donald Trump is an enigma. He has correctly identified the two most unsustainable elements of the global economic order, but his attempts to bring about their creative destruction threaten disaster. Has he perhaps revealed a paradoxical truth that such destruction is the only practical way to go? It was never going to be possible for the United States to remain the “consumer of last resort” indefinitely, thereby allowing other economies to pursue unsustainable export-led growth. It...

Politics

2 w. ago Taco vs Tina: which acronym will win out when traders have a taste for both?

US President Donald Trump’s tariff threats, with some reaching what he considers to be “a ridiculous high” level before being drastically lowered or suspended, have given rise to an acronymic market trend that Trump lashed out at a reporter for mentioning: Taco trades. But despite Trump’s back-and-forth tariff whiplash that has roiled markets and left many investors scrambling to keep up, many still believe “there is no alternative”. So, when it comes to putting their money in US assets, it’s in...

Politics

2 w. ago China accelerates banking merger efforts to establish global giants

China accelerates banking merger efforts to establish global giants  Yahoo Finance

Politics

2 w. ago China pushes for mergers to create global banking and securities giants

China pushes for mergers to create global banking and securities giants  Financial Times

Politics

3 w. ago Hong Kong’s ‘bustling’ IPO market exceeds HK$76 billion mark this year

Battery giant powers the city back to global IPO top spot as finance chief highlights ties with the mainland as key to long-term development.

Economics

3 w. ago Hong Kong to be global hub for ‘patient capital’ by nurturing tech start

City will support tech start-ups with long-term investments and strategic partnerships, Chan says.

Science

3 w. ago Hong Kong to be hub for ‘patient capital’ by nurturing start

Hong Kong is in a prime position to be a global hub for “patient capital”, an investment strategy that takes a longer view and is driven by “purpose and impact”, as it continues to advocate for technology start-ups, Financial Secretary Paul Chan Mo-po said on Thursday. Patient capital plays a critical role in supporting innovation, though it carries higher risks because of extended time frames and uncertain outcomes, Chan said at the inaugural International Forum for Patient Capital hosted by...

Politics