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Tag: Hong Kong Monetary Authority (HKMA)

Payment Connect: Hongkongers, mainland China residents embrace service on launch day
  • Hong Kong News

Payment Connect: Hongkongers, mainland China residents embrace service on launch day

Cs news1 week ago03 mins

Hongkongers and mainland residents jumped at the chance to send money across the border via a new electronic payment service on its first day of operation on Sunday. The so-called Payment Connect was operating smoothly, with 6,900 Northbound and 19,000 Southbound transactions as of 6pm, according to a spokesperson for the Hong Kong Monetary Authority…

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Bank in Hong Kong investigates unauthorised transactions on payment system FPS
  • Hong Kong News

Bank in Hong Kong investigates unauthorised transactions on payment system FPS

Cs news1 month ago02 mins

A mainland Chinese bank in Hong Kong is investigating unauthorised transactions on the Faster Payment System (FPS) involving one of its clients, the Post has learned, with experts saying breaches on the widely used platform are uncommon and may involve hacking. A client of the China Construction Bank (Asia) in Hong Kong told the Post…

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Hong Kong keeps base rate steady at 4.75% as monetary policy takes a breather after 3 cuts
  • Hong Kong News

Hong Kong keeps base rate steady at 4.75% as monetary policy takes a breather after 3 cuts

Cs news5 months ago02 mins

Hong Kong’s monetary authority kept its key interest rate unchanged in lockstep with the US Federal Reserve, taking a breather after last year’s three cuts, in the first monetary policy decision of 2025. The Hong Kong Monetary Authority (HKMA) maintained its base rate at 4.75 per cent on Thursday, in line with market expectations. Hours…

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Year of the Snake: Hong Kong firms use lai see envelopes as marketing tool in digital era
  • Hong Kong News

Year of the Snake: Hong Kong firms use lai see envelopes as marketing tool in digital era

Cs news5 months ago02 mins

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…

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Lower rates fail to lift transactions on Hong Kong’s secondary property market
  • Hong Kong News

Lower rates fail to lift transactions on Hong Kong’s secondary property market

Cs news9 months ago03 mins

The new cycle of interest rate cuts spurred by the US Federal Reserve failed to lift Hong Kong’s secondary property market over the weekend, as cautious buyers from the mainland stayed on the sidelines. Only seven deals got done over the weekend, a decline of 53.3 per cent from a week earlier, marking a new…

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  • Dow, S&P 500 and Nasdaq futures rise with stocks set to end June with a bang June 30, 2025
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