Hong Kong’s corruption watchdog has charged three former HSBC relationship managers with allegedly accepting bribes to help customers jump the queue when opening bank accounts. The Independent Commission Against Corruption (ICAC) said on Thursday that Chan Fu-kwan, 32, along with Mike Chan Wai-pak, 29, and Bernie Yau Kai-lung, 33, all worked at one of the…
A growing number of mainland Chinese institutional fund managers have built up stakes in Hong Kong-listed biotechnology stocks over the past month, drawn by attractive valuations amid a surge in cross-border licensing deals in the sector. China’s largest mutual fund manager, E Fund Management, has taken a 7 per cent stake in gene-editing biotechnology firm…
The son of a former mainland Chinese official has been remanded in custody in Hong Kong pending sentence for laundering more than HK$64 million, including a 4 million yuan bribe his father allegedly sought from a merchant a decade ago. Xiao Rui, 37, will also be penalised for using bogus bank records to deceive the…
Hong Kong homebuyers showed interest in 130 flats put on sale by developers on Thursday evening, but the pace of buying was more measured after an interest-rate increase later this year became more likely. Agents said 30 of the 75 units put on sale at Phase 4B of La Montagne at the Southside project at…
The Hong Kong Mortgage Corporation Limited (HKMC), a public body, has successfully priced its HKD 12 billion ($1.5 billion) digital bond issuance. It surpasses the HKD 10 billion digital green bond issued by the Hong Kong Government in November 2025. The bond is both multi currency and multi tenor, with three tranches comprising a HK$6…
Mainland customers can still open bank accounts in Hong Kong, but banks must adopt stringent new checks to ensure their processes are “compliant and orderly”, the Hong Kong Monetary Authority (HKMA) said in a statement on Saturday. “The banking industry has implemented the new regulatory requirements set out in the HKMA circular to ensure the…
Hong Kong’s de facto central bank has formed a group of industry experts to help remove legal and regulatory hurdles to tokenized bonds, as authorities seek to move beyond pilot projects and encourage wider adoption from private issuers. The Hong Kong Monetary Authority (HKMA) said on Friday it had established a Tokenised Bond Expert Group…
HSBC is targeting an increase in its Hong Kong client base to match the city’s population of 7.5 million, a goal to be driven mainly by international investors, according to its Hong Kong CEO Maggie Ng. Hong Kong has already seen almost 2 million new customers sign up to the HSBC Hong Kong office over…
Hong Kong’s note-issuing banks are replacing burnt cash for Wang Fuk Court residents, following emergency measures introduced by the city’s Monetary Authority and lenders to support those affected by last November’s devastating fire at the Tai Po estate. The extent of the residents’ financial losses came into the spotlight as they returned to the site…
Standard Chartered global CEO Bill Winters on Friday said he was “sorry” for comments describing “lower-value” workers, made while announcing job-cut plans earlier this week. Winters apologised in a LinkedIn post as he tried to cool debate among upset employees after he announced on Tuesday a 15 per cent cut of back-office staff at the…