US dollar-denominated funds could face more hurdles when investing in Chinese tech and biotech companies as Beijing adopts a stricter approach to companies seeking listings via offshore incorporated vehicles. Indicative of Chinese regulators’ caution in overseeing sensitive industries, industry sources say the move ensures that any sale of assets does not escape regulatory scrutiny. And…
Hong Kong’s lived-in home prices rose 1.6 per cent in February, marking the 11th straight month of positive movement for the residential property segment, as the city’s rents scaled another peak, according to official data. Since reversing a downward trend in April, second-hand home prices had climbed nearly 8 per cent so far, bringing the…
In the summer of 1998, the usually placid air at the Hong Kong Monetary Authority’s headquarters in Citibank Tower suddenly evaporated as regional currencies collapsed like dominoes. Rapacious speculators had shorted currencies such as the Thai baht, the Indonesian rupiah and the Korean won and had profited handsomely. The contagion looked like it would also…
Hong Kong has adequate safeguards to prevent any misuse of the Exchange Fund, according to the economist known as the “father of the city’s dollar peg”, who called concerns over the government’s decision to draw from the de facto sovereign wealth fund “a little overblown”. John Greenwood said the government’s plan to transfer HK$150 billion…
A combination of a strong initial public offering (IPO) market and bond sales has helped put Hong Kong’s financial health back in the black sooner than expected, with analysts expecting a robust pipeline of listings to be key to sustaining the city’s surplus. In his budget speech on Wednesday, Financial Secretary Paul Chan Mo-po said…
The new 10 per cent global tariffs imposed by the United States will only have a “limited impact” on Hong Kong, the city’s treasury chief has said, adding that the move highlights the city’s strength as a safe haven for capital amid geopolitical uncertainty. The remarks followed US President Donald Trump’s announcement on Friday to…
The loss-making authority that manages Hong Kong’s West Kowloon arts hub will sell bonds for the first time, aimed at raising up to US$1 billion to fund its operations. According to documents submitted to Hong Kong Exchanges and Clearing on Thursday, the West Kowloon Cultural District Authority appointed the Hongkong and Shanghai Banking Corporation and…
Hong Kong’s retail sales rose 1 per cent last year after recording a 6.6 per cent year‑on‑year increase in December, with authorities saying that improving consumer sentiment and growth in visitor arrivals would continue to support the sector. Figures released by the Census and Statistics Department on Tuesday estimated that the value of December’s retail…
As China prepares its digital yuan for wider domestic and cross-border use, the global debate has turned again to a familiar question: is Beijing trying to challenge the US dollar’s dominance? But this misses the more consequential point. The significance of China’s digital currency push lies not in substitution, but in the transformation of the…
Hong Kong will sign an accord with Shanghai next week to establish a cross-border gold trade clearing system, a move the financial chief says will bolster the city’s push to become an international gold trading hub. Financial Secretary Paul Chan Mo-po revealed on Sunday that the city and the Shanghai Gold Exchange would sign a…