Hong Kong banks may not cut their prime rates this year, but local interbank rates will still follow US rates lower, benefiting a majority of borrowers, according to a senior executive of the Hong Kong Monetary Authority (HKMA). Analysts widely expect the US Federal Reserve to cut its key rate by three-quarters of a point…
Life insurance sales in Hong Kong rose 56 per cent in the first nine months of last year to another record as affluent customers continued to buy policies in the city for wealth transfer, protection and medical needs. The industry wrote HK$264.5 billion (US$34 billion) worth of new policies from January to September, compared with…
Hong Kong’s finance chief has promoted the city’s regulatory regime for digital assets as “responsible and sustainable” at the annual World Economic Forum in Davos. Delivering opening remarks at a closed-door workshop on Tuesday, Financial Secretary Paul Chan Mo-po said finance and technology were “mutually reinforcing”, but a balanced approach was needed to support their…
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…
The Hong Kong government has launched a digital logistics platform offering real-time cargo tracking, with some 2,300 companies registered on the system. Secretary for Transport and Logistics Mable Chan said on Friday the new Port Community System would streamline transport data and improve transparency for users. The system integrates sea, land and air data and…
Hong Kong presence marks Arcesium’s commitment to supporting investment firms across the APAC region with investment operations and data strategy HONG KONG, Jan. 13, 2026 /PRNewswire/ — Arcesium, a leading provider of investment lifecycle and data management technology for the global investment industry, today announces the expansion of its global operations with the opening of…
Under the five-year plan called Fintech 2030 that starts this year, the HKMA would expand the scope of the city’s generative AI sandbox to include more industries as a step towards enhancing risk management, fraud detection and customer experience, chief executive Eddie Yue Wai-man told the Post in a written interview. “The diversity of perspectives…
All of Hong Kong’s 28 retail banks, including virtual ones, will offer an anti-scam service from Wednesday that requires extra verification before money can be withdrawn, with 3,200 people depositing HK$1.6 billion during a trial. Hong Kong Monetary Authority deputy chief executive Arthur Yuen Kwok-hang said on Tuesday that around 20 per cent of the…
Cybersecurity experts have urged Hong Kong residents to prioritise the use of an official one-stop digital identity app to register their accounts on the city’s new centralised pension fund platform to prevent theft after scammers stole HK$1.8 million. Some also questioned why the Mandatory Provident Fund Schemes Authority (MPFA), which manages the eMPF platform, did…
The trust of late billionaire Nina Wang Kung Yu-sum has donated HK$100 million (US$12.8 million) to victims of the deadly Tai Po blaze, surpassing tycoon Li Ka-shing to become the second-largest single donor after the Hong Kong Jockey Club. Nina Wang Charity Management announced on Thursday that it would donate HK$100 million to support the…