Financial Services Development Council Chairman Benjamin Hung Pi-cheng (second left) poses with other FSDC officials during an interview on April 20, 2026. (OSWALD CHAN / CHINA DAILY) Amid turbulence and volatility, global investors are trying to “rebalance” some of their worldwide assets back to the Chinese mainland and Hong Kong markets in a trend that…
The development of fintech and the strong desire of mainland Chinese companies to go global are conducive to Chinese and international banks setting set up operations in Hong Kong, according to the head of the city’s de facto central bank. “While many international and mainland banks already use Hong Kong as a base to develop…
The development of fintech and the strong desire of mainland Chinese companies to go global are conducive to Chinese and international banks setting set up operations in Hong Kong, according to the head of the city’s de facto central bank. “While many international and mainland banks already use Hong Kong as a base to develop…
The Hong Kong Monetary Authority (HKMA), the city’s de facto central bank, said it had no plans to establish a “bad bank” to absorb troubled debt in the financial system, saying that the local banking sector remained healthy and profitable. “Overall, banks in Hong Kong maintain a healthy balance sheet; their credit risk is manageable…
Hong Kong’s property sector could face some “short-term challenges” but “the risks are manageable” because the city’s economy was diversified and sat on a solid foundation, the chairman of the Financial Services Development Council (FSDC) said on Wednesday. “As an international financial centre, the global uncertainties would mean some Hong Kong industries would face certain…