Archive
Hong Kong Fintech Week 2023: A Summary of Key Highlights
Hong Kong Fintech Week (HKFW) 2023, organised by the Financial Services and the Treasury Bureau, Invest Hong Kong, and various key financial authorities, concluded on 5 November. The event drew a record attendance of over 35,000 attendees and more than
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Hong Kong Debuts First Saudi ETF in Asia Amid Growing China-Saudi Ties
The first-ever exchange-traded fund (ETF) in Asia, focusing on Saudi equities, commenced trading in Hong Kong on Wednesday. This event marks a milestone in the strengthening ties between China and Saudi Arabia. The ETF, named CSOP Saudi Arabia ETF and
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Shenzhen, Hong Kong to Launch Blockchain Cross-Border Data Verification Platform
Shenzhen and Hong Kong have announced a joint initiative to launch a verification platform for cross-border data. This platform is part of a broader effort to enhance data flows in various sectors, including finance, within the Greater Bay Area (GBA).
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OCBC Names Wang Ke as New CEO for Hong Kong Subsidiary
OCBC Bank has appointed Wang Ke as the new CEO of its Hong Kong subsidiary, effective 15 December 2023. This move is part of OCBC’s ongoing leadership renewal strategy in the Greater China region. Wang Ke, who was recently named
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Three More Banks Join China’s Digital Yuan Initiative
The participation of foreign banks in China’s digital yuan initiative, known as the e-CNY, has expanded with the addition of three more banks, reports Cointelegraph. This development follows the earlier integration by Standard Chartered on 27 November (Monday), making a
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Second Crypto Scam Rocks Hong Kong, Over HK$120 Million Lost to Hounax
The Hong Kong police have initiated an investigation into Hounax, a cryptocurrency trading platform, after 131 individuals reported losing a total of HK$120 million (US$15.4 million) in what is suspected to be a fraudulent scheme. This news was initially reported
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Hong Kong and China Bourses Ink MoU for Green Finance
The Hong Kong Exchanges and Clearing Limited (HKEX) has signed a Memorandum of Understanding (MOU) with the China Beijing Green Exchange (CBGEX) for green finance and sustainable development. The agreement aims to foster cooperation in various areas, notably in building
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Growth of Hong Kong Fintech Sector Stalls
After years of sustained development, the growth of Hong Kong’s fintech industry is stalling, with business formation slowing down and startup funding plummeting to pre-COVID-19 levels, a joint research report by industry trade group, the Fintech Association of Hong Kong
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Standard Chartered Joins China’s Digital Yuan Pilot as First Foreign Bank
Standard Chartered’s China division has joined the digital renminbi business pilot, making it one of the first foreign banks to do so. Standard Chartered, in collaboration with City Bank Clearing Services, announced the introduction of exchange services for China’s central
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HKMA Launches Suspicious Proxy ID Alert for Faster Payment System
The Hong Kong Monetary Authority (HKMA) has rolled out the Suspicious Proxy ID Alert for the Faster Payment System (FPS). This initiative, launched on 26 November, enhances the system’s security by alerting users to potential fraud risks when conducting transactions
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