Hong Kong can become a multicurrency bond hub and Beijing’s recently announced measures to expand the Bond Connect scheme will further enhance the city’s role as a prime destination for debt issuance, analysts said. Earlier this month at the Asian Financial Forum, People’s Bank of China (PBOC) governor Pan Gongsheng spoke about increasing the “asset…
Driven largely by the accumulation of massive wealth by the richest people in the United States, the Swiss wealth manager UBS said Thursday the assets of billionaires around the world more than doubled over the past decade. Between 2015-24, the total wealth of billionaires increased by 121%, from $6.3 trillion to $14 trillion. Meanwhile, the…
BMW Vision Neue Klasse concept car is on display in Beijing. (Photo by Yi Haifei/China News … [+] Service/VCG via Getty Images) China News Service via Getty Images The slowdown in European electric vehicle sales will soon be seen as a temporary blip as they accelerate again towards market leadership by 2030 and on to…
The world’s largest alternative asset manager Blackstone has partnered with a local industry body to launch a certification programme for Hong Kong’s wealth managers, deepening the city’s push to serve as a wealth-management hub amid growing interest in private assets. The company, which has run the Blackstone University programme for 13 years globally, will launch…
Analysts are starting to wonder if Fed chair Jerome Powell may achieve what many believed impossible: bringing the economy down from a period of rampant inflation without plunging it into a recession. After years of the Powell-led Federal Open Market Committee (FOMC) focusing on bringing down price inflation, markets were growing concerned that unemployment may…
Wall Street is scrambling to catch up after Beijing’s surprise stimulus onslaught set off a bull run on the Hong Kong and mainland China stock markets, catching short-sellers off guard. China stocks will gain at least another 10 per cent in a tactical rally in the near term amid more stimulus efforts by the government,…
President Xi Jinping has subtly toned down China’s focus on achieving its annual economic growth goals this year, seemingly indicating the difficulties faced by the world’s second-largest economy in achieving its “around 5 per cent” gross domestic product target. “We should strive to fulfil the economic and social development goals and tasks for the whole…