China is striving to establish a high-quality inclusive financial system over the next five years, although its financial stability is under pressure from the ongoing property crisis triggered by Evergrande and Country Garden.

Hong Kong Monetary Authority says new security measures for fast payment will improve notification of fraud risk before transactions are carried out.

Hong Kong digital banks ZA and Mox’s mobile apps feature in the global top 10, thanks to improvements in their functions and user experience, according to a study by French consultancy Sia Partners.

Is Hui Ka-yan’s sudden ‘arrest’ related to Evergrande’s Chapter 15 filing? Did he attempt to shield his personal assets from onshore creditors, as speculated by some local media? Here’s what some restructuring experts say about the situation.

The median liquid assets of people with more than HK$10 million (US$1.28 million) in wealth dropped by HK$1 million to HK$4.5 million as of the end of June, survey says.

Banks globally reaped a US$280 billion profit boost in 2022 thanks to rising rates, in the sector’s best performance since the 2008 global financial crisis, McKinsey & Co said.

China’s local governments are issuing refinancing bonds to service outstanding liabilities associated with US$9 trillion of ‘hidden’ debt amid efforts by Beijing to defuse risks in its slowing economy.

Hong Kong’s affluent become millionaires by the time they turn 33 on average, according to an annual survey by HSBC, which also found that respondents were confident about reaching the next milestone of HK$10 million (US$1,277,164) by age 62.

China’s big banks are likely to face further pressure on their revenues and interest margins in the fourth quarter, as the world’s second-largest economy battles an ongoing property sector crisis and low consumer confidence, analysts said.

The governor also encouraged Chinese banks to grow and expand in Saudi Arabia, highlighting the importance of foreign investment and fintech-driven financial inclusion in promoting Saudi Vision 2030.

China’s central bank is ramping up the promotion of its digital currency, making it easier and more convenient for everyday users as well as cross-border transactions. Here’s what has been accomplished this year.

The Shenzhen municipal government plans to start trials of ‘equity + debt’ financing via approved banks in the city’s Hetao and Qianhai cooperation zones.

HSBC Holdings is acquiring Citigroup’s retail wealth management business in mainland China, accelerating its push in the world’s second-largest economy.

It is unclear how long the former Goldman Sachs banker will be in the country of his birth. Ng has been sentenced to serve a 10-year term in the US for his role in the 1MDB scandal.

Trials of the digital currency have showed potential uses in payment, deposit and investment scenarios, but relevant players need more experience before a launch date can be considered, says the head of the city’s de facto central bank.

There were 91 IPOs worth US$15.8 billion in the three months to September, down from 105 share listings worth US$20 billion in the second quarter.

Overseas talent coming to Hong Kong should consider learning Mandarin as businesses flock to the city and the Greater Bay Area, according to recruitment consultants.

Hong Kong’s financial markets can look forward to a boost from a soon-to-launch investment migration scheme that will bring ‘substantial’ new capital inflows to the city, Paul Chan said on Friday.

A Hong Kong branch of DBS bank, being renovated in 2004, sent old safe deposit boxes to an industrial crusher, but 83 still contained customers’ items. The contents couldn’t be rescued and the bank had to pay out millions.

The latest move by the Hong Kong Monetary Authority, expanding its fintech development road map to include insurance firms and brokers, will encourage more financial companies to adopt technology for cutting costs and enhancing services, industry players said.

About 90 top-level executives such as CEOs and chairmen are expected at this year’s event, more than double last year’s attendance.

As China takes more steps to deleverage and cool down its property market, the protracted slump is having an effect on overall economic growth – projections are being cut, with real estate mentioned as a specific cause for the revisions.

Clara Chan Ka-chai, the incoming CEO of the new government investment company which will oversee HK$62 billion (US$8 billion) of funds, is not new to deal-making challenges, having earned the moniker ‘goddess’ for her role in rescuing the city’s flagship carrier from collapse during the pandemic.

Hong Kong authorities and bankers are betting a new digital platform will boost investor confidence through a shortened settlement cycle for initial public offerings (IPO) and a quicker listing process.

Pawn shops may have almost been pushed into oblivion in Hong Kong with the advent of convenient financial tools such as credit cards and emergence of online banks, but some are still willing to brave the odds.