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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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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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BIS Raises Concern Over Digital Monopolies by Bigtech Like Tencent and Alibaba
Bigtech companies such as Alibaba, Meta and Tencent, are rapidly expanding their presence in the financial services sector. This increasing influence presents opportunities to improve financial inclusion but also brings challenges relating to market dominance and price, as well as
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Hong Kong’s SFC Takes Legal Action Against AMTD for Suspected IPO Misdeeds
The Securities and Futures Commission (SFC) of Hong Kong has initiated legal proceedings against AMTD Global Markets Limited, now known as Orientiert XYZ Securities Limited, and several of its former executives. This action, initiated at the Court of First Instance,
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Hong Kong and Abu Dhabi Regulators Strengthen Fintech Ties
The Hong Kong Monetary Authority (HKMA) and the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) have singed a MoU to step up their fintech cooperation. This agreement aims to enhance the ongoing partnership, focusing on cross-border
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6 Ways Hong Kong’s e-HKD Pilot Initiative Explores the Future of Currency
As part of its forward-looking “Fintech 2025” strategy, the Hong Kong Monetary Authority (HKMA) is preparing for the advent of central bank digital currencies (CBDCs), aiming to enhance Hong Kong’s capacity to issue CBDCs at both wholesale and retail levels,
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Hong Kong, China, and Macao Ink MoU to Deepen Fintech Cooperation
The Hong Kong Monetary Authority (HKMA), the People’s Bank of China (PBoC), and the Monetary Authority of Macao (AMCM) have signed an MoU to deepen fintech innovation supervisory cooperation in the GBA. Under the MoU, the three authorities agreed to
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Citi Inks Deal to Sell Consumer Wealth Business in China to HSBC
Citi announced that it has agreed to sell its onshore consumer wealth portfolio in China to HSBC Bank. The transaction includes clients, assets under management (AUM) and deposits totaling approximately US$3.6 billion. The deal is expected to close in the
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HKMA’s Eddie Yue Appointed to Key Role at BIS
The Hong Kong Monetary Authority’s (HKMA) Chief Executive Eddie Yue was appointed Chair of the meeting of Governors of major emerging market economies (EMEs) for a three-year term, effective 1 September. Yue stepped into the role following the retirement of
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Airwallex Launches New Campaign to Help Hong Kong Startups Go Global
Cross border payments firm Airwallex has announced the launch of a new business readiness campaign for Hong Kong startups. The campaign, called “Airwallex for Startups”, aims to support the growth ambitions of Hong Kong’s early-stage businesses by providing them with
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