Financial Services
9 in 10 GBA companies see Hong Kong as a key sustainable development facilitator
99% of Mainland businesses committed to sustainable investment choose Hong Kong as a source for related professional services
9 in 10 GBA companies see Hong Kong as a key sustainable development facilitator
99% of Mainland businesses committed to sustainable investment choose Hong Kong as a source for related professional services
Gen Z consumers, travel spending boost credit market growth in Q2 2024
GDP and export growth also supported the stable credit market in Q2 2024.
IDA bags $46.8m funding to launch first fiat-referenced stablecoin
The firm anticipates mainnet launch before year-end.
Mortgage loans up 1.5% MoM in July
Mortgage loans approved in July total $24.8b.
HKMA launches sandbox to accelerate tokenisation adoption
The sandbox will facilitate interbank settlement using experimental tokenised money.
MTR rolls out contactless payment for Mastercard holders
Each station in the MTR heavy rail network, except Airport Express stations, has at least two entry/exit gates with contactless payments.
Credit card receivables fall 0.2% QoQ to $151.2b in Q2
Year-on-year, however, it rose by 4.9%.
Aspire enters HK to support expanding SMEs with multi-currency needs
Seven in 10 companies in Hong Kong plan to expand operations overseas.
Foreign currency reserves hit US$419.3b in July
It rose from the US$416.3b record in June.
Hong Kong’s foreign currency reserve assets rose to $3.26t (US$419.3b) in July 2024, compared to last...
Virtual banks in Hong Kong thrive with 2.2 million depositors in 2023
Hong Kong's eight licensed virtual banks experienced modest growth over the past three years.
Hong Kong a ‘pivotal global financial hub’: Knight Frank
Its urban prosperity is the best amongst new wealth hubs.
Breadwinners support at least 3 relatives financially: survey
Breadwinners support spouses/partners, parents/in-laws, and children.
Hong Kong’s credit card market to hit $1.02t in 2024
This growth is driven by the city’s robust payment infrastructure and e-commerce growth.
What’s shaping Hong Kong’s asset management sector
The report highlights evolving investment trends such as ESG, alternative assets, and virtual assets.
Hang Seng Bank launches $80b green financing solutions fund
The bank also launched green assessment and knowledge advocacy programmes.
Indosuez appoints Michaël Kofman as Hong Kong CEO
He has nearly 30 years of experience in finance.
HKMA keeps base rate at 5.75%
It said that the high interest rate environment could persist for some time.
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