The Hong Kong Monetary Authority (HKMA) is set to encourage more mainland banks to set up regional headquarters in the city, while the local bourse operator plans to enhance the listing regime, as the government aims to fortify Hong Kong’s position as an international financial centre, according to Chief Executive John Lee Ka-chiu. In his…
Hong Kong’s gold jewellery shops are reversing the usual course of business by stepping up efforts to buy the precious metal from customers, after the local price hit a record high. Gold in Hong Kong traded at an intraday record high of HK$30,930 per tael troy (US$3,991 for 37.429 grams) before closing at HK$30,710 on…
Hong Kong and its tech-savvy residents may have fully embraced digital banking, but companies continue to offer unique and fancy red envelopes, or lai see packets, to clients as an inexpensive way to promote their brand and business. HSBC and ICBC (Asia) have taken the opportunity presented by the Year of the Snake starting on…