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Financial regulation

Kelvin Wong Tin-yau, current chairman of the Accounting and Financial Reporting Council, pictured at Two Taikoo Place in Quarry Bay on Feburary 7, 2024. Photo: Jonathan Wong

Hong Kong names accounting regulator Kelvin Wong as next SFC chairman

Wong, 63, will serve a three-year term leading the market watchdog starting on October 20, replacing current chairman Tim Lui.

China’s regulator investigating CICC over sponsorship of IPO for S2C

Opinion | Reform financial markets now – or be forced into it with the next crash

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China Renaissance names missing founder’s wife to chair investment bank

Hui Yin-ching, also known as Xu Yanqing, was designated as the chairperson of the bank’s board and executive director effective October 9, Renaissance said.

China Renaissance’s founder Bao Fan and his wife Hui Yin-ching during the 2018 Breakthrough Prize at NASA Ames Research Center on December 3, 2017 in Mountain View, California. Photo: Getty Images.

US charges crypto firms and staff with fraud, including 2 from Hong Kong

Prosecutors say the defendants engaged in sham trades to artificially inflate the trading volume of cryptocurrency tokens.

Middle Eastern investors set to access Hong Kong shares with 2 ETFs

The SFC has noticed that international investors, who previously were underweight on Hong Kong stocks, have now rushed back into the local market.

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Hong Kong firm HKVAX gets approval to run city’s third cryptocurrency exchange

Local firm Hong Kong Virtual Asset Exchange aims to offer over-the-counter trading, exchange and custody services.

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The new cryptocurrency exchange licence granted to HKVAX shows Hong Kong’s resolve to build up its virtual-asset industry. Photo: Shutterstock

Will new policy encourage Chinese banks to invest in struggling start-ups?

Beijing’s encouragement for banks to boost investment in unlisted companies is a big move in the effort to support start-ups, analysts say.

Shanghai offers sweeteners to foreign funds, signals bigger QFLP quota

Funding for unlisted Chinese companies has dried up over the past years, says Wang Feng of Ye Lang Capital, a financial services firm.

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Malaysia set to launch Forest City Financial Zone, but will it lure businesses?

Industry insiders say the government must go beyond tax incentives to attract the firms needed to revive the troubled US$100 billion project.

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A welcome sign stands at a roundabout in front of residential apartments in Chinese developer Country Garden’s Forest City in Johor Bahru, Malaysia. Photo: EPA-EFE

China names, shames 8 authorities after warning regions to curb hidden debt

Notices from top legislature and finance ministry come with debt management under the microscope amid scramble to achieve economic growth targets for 2024.

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A construction crew works on an expressway in China’s Yunnan province, which has launched a 100-day campaign to boost economic growth. Photo: Xinhua

Hong Kong sees biggest uptick in cryptocurrency activity in East Asia: report

The city rose to 30th place, up from the No 47 spot last year, in this year’s Global Cryptocurrency Adoption Index rankings by Chainalysis.

Hong Kong needs localised climate data to improve corporate disclosures, CPA body says

Hong Kong needs references for greenhouse gas emissions and projections for climate scenarios for listed companies, a standard setter said.

China creates ‘concerto’ of rules for insurance sector, promotes investment

China’s State Council issued a 10-point document on Wednesday outlining comprehensive regulations for the insurance industry.

China’s aims to boost investment in emerging industries. Photo: Shutterstock

Exclusive | Hong Kong weighs new OTC crypto scheme with SFC

A previous proposal had OTC cryptocurrency shops under the excise department, but some complained about confusing virtual asset rules, sources say.

Signage for bitcoin in Hong Kong on August 5, 2024. Photo: Bloomberg

Cryptocurrency in focus as China sheds light on new money-laundering risks

Draft revision to the Anti-Money Laundering Law also refines the definition of anti-money-laundering, with seven types of offences listed.

China to ban ex-regulators from IPO investments for up to 10 years

The change is part of a wider crackdown on corruption to bolster flagging investor confidence in China’s US$8 trillion stock market.

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China must act to avoid crisis, former Japanese central banker warns

Former central bank governors have raised the alarm over deflation and slowdown, both of which were symptoms in Japan’s ‘lost decades’.

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Haruhiko Kuroda, former governor of the Bank of Japan, is among the voices cautioning China over its deflation and low consumer confidence. Photo: Bloomberg

China’s ex-financial regulator urges easing to boost market growth

The capital market fares better than banks in supporting start-ups and promising technology firms, Shang Fulin tells the Bund Summit financial forum.

After ‘phenomenal’ growth, China needs plan to recover illicit digital assets

Growth of virtual currencies such as bitcoin and ether used in crimes has been ‘phenomenal’, law professor says.

China moves to curb money worship, extravagance and excess in financial sector

China’s financial industry is undergoing significant reshuffling, with lay-offs and pay cuts part of Beijing’s efforts to reduce risks.

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An electronic ticker displays stock figures in Pudong’s Lujiazui Financial District in Shanghai. Photo: Bloomberg

Open questions | Economist Marc Uzan on how China can help reshape the global financial system

Marc Uzan, who has campaigned for changes to the global financial system for 30 years, says he remains optimistic about international cooperation despite the rise of unilateralism.

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Illustration: Lau Ka-kuen

Editorial | Step up fight against Hong Kong online scam scourge

Phone scams have steadily increased, with losses nearly doubling in value last year in the city to HK$9.18 billion.

Hong Kong’s launch of wCBDC sandbox takes it closer to tokenised market

Six participants, including HSBC, Standard Chartered and Bank of China (Hong Kong), showcased test cases that will be explored to boost scale and interoperability.

Crypto exchange HashKey opens two new tokens to retail investors

The cryptocurrencies, among the top 20 but not household names, were chosen because some bigger tokens face legal disputes, CEO Livio Weng says.

The booth of HashKey Group, one of two licensed cryptocurrency exchanges in Hong Kong, seen at the city’s Web3 Festival in April 2024. HashKey started offering two new tokens beyond bitcoin and ether to retail investors on Wednesday. Photo: Handout

Landmark ruling highlights need for Hong Kong’s crypto regulatory framework

Hong Kong High Court decision provides clarity and is consistent with the principle that new legal entities in the cryptocurrency field must be open to scrutiny.

Cryptocurrency ATMs, operated by Coinhero, are seem in Hong Kong. File photo: Bloomberg

China to keep up financial risk control with draft rules for microlenders

A draft set of rules and standards have been released for China’s microfinancing firms, with risk control and consumer protection in mind.

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Liu Jin resigns as Bank of China’s president for ‘personal reason’

The move came as a surprise as Liu, born in 1967, has yet to reach the official retirement age of 60 years for men.

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Financial regulation
Key developments in regulation of financial markets with a focus on those in Hong Kong and mainland China.
last updated:
9 September, 2024
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