(Reuters) -China’s central bank has asked some financial institutions about their views on recent U.S. dollar weakness, people with knowledge of the matter said. In the survey conducted last week, the People’s Bank of China (3988.HK) asked questions related to the U.S. dollar’s movements and the causes of its recent weakness and outlook for the…
Hong Kong banks should use a government platform to verify new customers, experts have said, after eight people were arrested for allegedly using deepfake software to alter lost identity cards to set up new accounts. Experts told the Post that the inability of banks to verify personal data during the application process and their reliance…
representative image HONG KONG: Hong Kong’s home prices declined for a third month in February to a nearly nine-year low, government figures showed on Thursday, as the ailing property market struggled to find support amid a weak economic outlook. By the numbers Private home prices fell 0.9% in February from the month before, following a…
Apple’s (NASDAQ:AAPL) smartphone shipments in China dropped by 21% in January, a significant hit that underscores the growing challenges in the world’s largest consumer market. According to the China Academy of Information and Communications Technology, the foreign-branded phone segment, including Apple’s iPhone, shrank to 4.4 million units from 5.5 million units a year earlier. Total…
China Vanke has sold nearly three quarters of the more than 200 units on offer at its Le Mont project on the first day of sales, despite earlier reports indicating that some Hong Kong banks were refusing to extend mortgages to prospective buyers. By 5pm on Saturday, 162 of the 228 available flats at the…
Halfway up a 37-storey tower overlooking Hong Kong’s Victoria Harbour, within walking distance from the People’s Liberation Army barracks and the classy Hong Kong Club, sits an unassuming office of a fund manager with an outsize role in the global financial markets. The spartan office, with two tiny flags of China and Hong Kong providing…
BEIJING (Reuters) – Bank of China has set up a 50 billion yuan ($6.9 billion) fund to invest in technology startups, state media CCTV reported, as the nation’s big state lenders move to support the private economy. The technology and innovation fund, expanded from the 30 billion yuan announced last year, aims to support technology…
A Hong Kong court has remanded a Taiwanese woman in custody over an alleged money laundering offence six years ago. Chen Hui-chih, 55, was arrested last month when she entered the city in a tour group that included a Taiwanese legislator and other officials. West Kowloon Court on Friday refused to grant bail to Chen,…
A Hong Kong court has remanded a Taiwanese woman in custody over an alleged money laundering offence six years ago. Chen Hui-chih, 55, was arrested last month when she entered the city in a tour group that included a Taiwanese legislator and other officials. West Kowloon Court on Friday refused to grant bail to Chen,…
More Chinese and global issuers and investors are expected to be drawn to offshore yuan bonds in Hong Kong and elsewhere, thanks to the currency’s cost efficiency, according to investment bank China International Capital Corporation (CICC). On Wednesday, China’s Ministry of Finance sold 12.5 billion yuan (US$1.7 billion) worth of bonds in Hong Kong, with…