KAREN JOY BACUDO Finance Editor Hong Kong children aged eight to 15 hold HK$4.1 billion in cash, bank accounts and piggy banks, according to a YouGov survey commissioned by banking technology company Hyperlayer. The findings suggest a large share of that money sits outside traditional banking channels. Hyperlayer estimated that 36% of children in that…
Police in Paraguay have launched an investigation into the death of a Hong Kong-born cryptocurrency fund executive as speculation swirled over the case. Experts on Wednesday also warned of a global rise in violent extortion attempts targeting digital asset holders, a phenomenon known as “wrench attacks”. Paraguayan police are investigating the death of Harry Yeh…
Hong Kong is set to announce on Monday a new batch of “strategic enterprises” establishing a presence in the city, including several firms with market capitalisations of up to HK$100 billion (US$12.8 billion), the finance chief has revealed. Writing in his weekly blog on Sunday, Financial Secretary Paul Chan Mo-po said the new partners were…
The Hong Kong Monetary Authority (HKMA), Securities and Futures Commission (SFC), Insurance Authority (IA), and Mandatory Provident Fund Schemes Authority (MPFA) have launched the Generative Artificial Intelligence (GenA.I.) Sandbox++ initiative, in partnership with Hong Kong Cyberport Management Company Limited (Cyberport). The HKMA, SFC, IA, and MPFA serve as Hong Kong’s key financial regulators, overseeing the…
This file photo dated Aug 1, 2025 shows a logo of stablecoin USDT in Hong Kong. (ADAM LAM / CHINA DAILY) RedotPay, a stablecoin payments company based in Hong Kong, is considering an initial public offering in the US to potentially raise over $1 billion, according to people familiar with the matter. RedotPay is working…
The Hong Kong Investment Corporation (HKIC) is eyeing investments in fintech, aerospace and artificial intelligence, tapping the city’s strengths and a wave of incoming talent and enterprises as geopolitical shifts create new opportunities, according to its CEO. The city’s wholly owned investment vehicle, which manages HK$62 billion (US$8 billion) in funds, would look at these…
The use of technology in trade finance is advancing from digitising existing paperwork to re-engineering entire processes with artificial intelligence and shared data, according to bank executives at the Development & Innovation of AI for Digital Finance forum on Monday in Hong Kong. “When we are talking about digitalisation, we are actually making the current…
The Hong Kong Monetary Authority (HKMA) has unveiled a road map to introduce 20 measures under a five-year initiative aimed at modernising the city’s trade finance landscape and strengthening connectivity with mainland China and Asean trade corridors. Project CargoX, part of HKMA’s Fintech 2030 strategy, would use blockchain and data to help exporters secure bank…
Hong Kong and Shenzhen are establishing a white list for data transfers as part of an overarching effort to forge closer cross-border ties, which policymakers and business leaders see as essential to unlocking opportunities in artificial intelligence and fintech in the region. “If you have a white list to facilitate the movement of sensitive data,…
Hong Kong and Shenzhen are establishing a white list for data transfers as part of an overarching effort to forge closer cross-border ties, which policymakers and business leaders see as essential to unlocking opportunities in artificial intelligence and fintech in the region. “If you have a white list to facilitate the movement of sensitive data,…