Investors in mainland China raised their stakes in Hong Kong-listed drug makers through the cross-border trading link over the past week, as a wave of out-licensing deals between the country’s pharmaceutical firms and global partners rolls on. The Hang Seng Southbound Connect Hong Kong Innovative Drug Index, which tracks around 40 of the largest Hong…
Former governor Chris Patten once said nobody ever profited from betting against Hong Kong. Anybody wagering against its “one country, two systems” policy will undoubtedly be out of pocket. Since 1997, the policy has been the city’s lodestar. While the post-reunification settlement was repeatedly challenged, most notably during the 2019 social unrest, Hong Kong has…
China’s central bank will support Hong Kong’s monetary authority to double the amount of yuan liquidity available to local banks, helping them increase yuan lending and enhancing the city’s role as an international offshore centre for the mainland currency. People’s Bank of China (PBOC) deputy governor Zou Lan said at the Asian Financial Forum (AFF)…
Federated Hermes, a New York-listed asset-management firm, plans to set up a Hong Kong office to seize opportunities in Asia’s markets amid ongoing global geopolitical tensions. The company confirmed the move a year after CEO Chris Donahue said at the Asian Financial Forum (AFF) that the Pittsburgh-headquartered firm was considering a presence in the city….
Hong Kong will sign an accord with Shanghai next week to establish a cross-border gold trade clearing system, a move the financial chief says will bolster the city’s push to become an international gold trading hub. Financial Secretary Paul Chan Mo-po revealed on Sunday that the city and the Shanghai Gold Exchange would sign a…