Hong Kong’s move to legalise stablecoins – cryptocurrencies that maintain a fixed value by being pegged to a reference asset – is grabbing the attention of mainland institutions, as a leading Chinese brokerage predicts a boom in tokenised real-world assets (RWA) in the city. While Beijing has remained largely quiet on Hong Kong’s new stablecoin…
Hong Kong’s move to legalise stablecoins – cryptocurrencies that maintain a fixed value by being pegged to a reference asset – is grabbing the attention of mainland institutions, as a leading Chinese brokerage predicts a boom in tokenised real-world assets (RWA) in the city. While Beijing has remained largely quiet on Hong Kong’s new stablecoin…
Hong Kong’s taxi trade and ride-hailing services can coexist and survive together, the transport chief has said, pledging to prioritise the public’s travel needs in the coming regulation of online platforms. Secretary for Transport and Logistics Mable Chan made the reassurance on Saturday, a day after more than 30 disgruntled taxi drivers demonstrated outside government…
In the second instalment of a three-part series on financial decoupling between China and the US, experts tell the Post how pressure on US-listed companies from the mainland could be a windfall for Hong Kong’s markets. Read the first part here. A month ago, Patrick Tsang, the CEO of Deloitte China, learned that the US…
Hong Kong authorities have warned ride-hailing platform operators to ensure their services are legal ahead of a meeting with them, as more than 30 disgruntled taxi drivers gathered outside the city government headquarters to petition for tougher law enforcement against illegal services. The Transport and Logistics Bureau issued a statement on Friday morning expressing concerns…
Low-budget tours to Hong Kong costing as little as 68 yuan (US$9.35) have been a popular option among mainland visitors over the Labour Day “golden week” holiday, sparking concerns about how such minimal spending by tourists in the city would benefit the local economy. A search by the Post on China’s leading online travel booking…
Low-budget tours to Hong Kong costing as little as 68 yuan (US$9.35) have been a popular option among mainland visitors over the Labour Day “golden week” holiday, sparking concerns about how such minimal spending by tourists in the city would benefit the local economy. A search by the Post on China’s leading online travel booking…
The Hong Kong Monetary Authority (HKMA) has stepped into the financial market again to rein back the local currency, which had been pushed above its trading band against the US dollar amid the recent influx of capital in the city’s bourse. In its first market intervention in two years, the city’s de facto central bank…
Ant Group has bought control of Hong Kong’s largest retail stock brokerage, as mainland China’s dominant online-payment operator stakes out a foothold in Asia’s third-largest capital market amid a resurgence of initial public offerings (IPOs) and transactions. Ant Group agreed to pay HK$2.81 billion (US$362.2 million) for 50.55 per cent of Bright Smart Securities &…
Ant Group has bought control of Hong Kong’s largest retail stock brokerage, as mainland China’s dominant online-payment operator stakes out a foothold in Asia’s third-largest capital market amid a resurgence of initial public offerings (IPOs) and transactions. Ant Group agreed to pay HK$2.81 billion (US$362.2 million) for 50.55 per cent of Bright Smart Securities &…