Hong Kong’s financial hub status in question after US comments

Threats from the US to end Hong Kong’s special trading status pose a potential long-term threat to the city’s role as a global financial centre. By Justin Pugsley.

SFC takes action to ensure continued integrity of Hong Kong’s markets

Following extreme bouts of market volatility, the Hong Kong Securities and Futures Commission (SFC) said it is pursuing a flexible approach so that markets continue to function properly, while safeguarding market integrity and investor protection.

Hong Kong skyline

Surge in ESG initiatives threatens transition to sustainable economy

An explosion in ESG initiatives across the world is threatening the very goal they are trying to achieve, namely the move towards a more sustainable economy 

China makes renewed cash injection into banking system to reboot economy

In a bid to restart the Covid-19 impacted Chinese economy, the People’s Bank of China (PBoC) said on March 30, that it is injecting 50bn yuan ($7bn) into the banking system. 

Hong Kong regulators consult on adding eight firms to OTC derivatives clearing regime

Hong Kong regulators consult on adding eight additional entities to the Financial Services Providers (FSP) list under for the over-the-counter (OTC) derivatives clearing regime.

PBoC readying new laws to launch digital currency

The People’s Bank of China (PBoC) is a step closer to launching a central bank digital currency (CBDC) having completed, with the help of private companies, many of the technical functions to support it. 

China coronavirus

Coronavirus resurrects China’s bank NPL concerns

To help offset the economic damage from the coronavirus outbreak, Chinese regulators said they will tolerate a rise in bad debt in the banking system, which is seen as suspiciously low by some. 

APRA to scrutinise bank climate change efforts more deeply

Banks in Australia will have to stress test their resilience to financial risks associated with climate change, the Australian Prudential Regulation Authority (APRA) said in a letter.

Hong Kong budget seeks to enhance territory’s attraction as financial centre

Hong Kong is taking measures to boost financial services in its budget, which include a range of tax cuts on certain financial activities. 

China pumps in money to offset impact of corona virus on financial system

The People’s Bank of China (PBoC) reduced repo rates by 10 basis points on February 3 and separately deployed around RMB1.2tn ($173bn) into reverse bond purchases as the country returned to work after the Chinese New Year holidays.