The Hong Kong Monetary Authority (HKMA) is preparing to kickstart “Wealth Connect 3.0”, an enhancement of the cross-border mechanism for wealth-management products that would raise quotas and expand the product menu, according to its chief executive Eddie Yue Wai-man. The upgrade would also potentially expand the scheme to investors in regions of mainland China beyond…
Hong Kong retained its status as Asia’s top financial centre and was the third globally, distancing itself from regional rival Singapore and also closing the gap with top-ranked New York, according to the latest edition of the Global Financial Centres Index. Hong Kong’s overall rating increased 11 points, while Singapore gained three points to stay…
The former Communist Party chief in the province where the Covid-19 outbreak first emerged has been placed under investigation on suspicion of corruption. Jiang, 67, has since been made deputy head of the national legislature’s agricultural and social affairs committees, but on Friday two leading anti-corruption watchdogs announced he had been placed under investigation for…
The US and China held what could be their last working-group meetings on economics and finance, a month before Donald Trump’s return to the White House amid an anticipated revival of the two superpowers’ trade war. The US Treasury on Monday announced that senior officials from Washington and Beijing discussed economic and financial issues in…
China envisions Hong Kong’s capital markets as a beacon of prosperity, having lifted the city out of social chaos in June 2020. This week, Beijing backed that goal with vocal support at an investment summit attended by CEOs of global banks and money managers. Do global investors share the optimism? The question has never been…
Beijing has slashed capital requirements for foreign institutions and companies to buy into China’s listed firms as strategic investors, taking another step towards bolstering investor confidence in the country’s stock market. Investors who own proprietary assets of no less than US$50 million or have assets under management of at least US$300 million will be eligible…