Financial Services
HKMA encourages virtual banks as part of Smart Banking transition
The de facto central bank believes they promote fintech and financial inclusion.
HKMA encourages virtual banks as part of Smart Banking transition
The de facto central bank believes they promote fintech and financial inclusion.
Hong Kong slowly losing patronage of Chinese wealthy to Singapore amidst tighter Mainland scrutiny
The number of Chinese HNWI who cited Hong Kong as the preferred overseas investment destination dipped to 53%.
Hong Kong loses to Singapore as top Asian location for MNC headquarters
Therefore, KPMG believes that a tax incentive for funds and RHQ should be introduced.
2 in 5 banks likely to pursue JVs to boost digitisation efforts
This will result in greater industry collaboration between banks and e-commerce players.
Introducing group tax loss relief will boost Hong Kong's international competitiveness: KPMG
The policy would put Hong Kong at par with major financial centres like Singapore and US.
Homegrown startups raise record-high funding as total VC investment hits $425m in Q4
The $220m capital infusion for fintech startup WeLab was the ninth largest year-end deal in Asia.
Government urged to offer profits tax concession to qualified startups and tax relief to angel investors
The move is sure to encourage increased levels of private investment, said EY.
What are the key priorities for Hong Kong's financial institutions this year?
Battling anti-money laundering remains high on their agenda.
Shanghai Henlius Biotech eyes Hong Kong IPO
This comes amidst the bourse reform plan allowing the listing of pre-profit biotech companies.
Should the government provide refundable R&D credits to stimulate private investment?
However, the administration must first clarify its definition of R&D activities and expenditures, PwC said.
Strong earnings and below-budget expenditure to buoy government surplus to $168b in 2018
PwC forecasts that high profits from land sales, tax and stamp duty would buoy fiscal revenue to over $620b.
High retail deposit requirements may prompt small banks to hike rates
The NSFR implementation compels the reporting of figures falling below 100% to the HKMA.
Hong Kong is the world's fourth most secretive financial center
In its bid to attract more offshore financial services, it is ranked roughly on par with Panama.
HKMA relaunches career accelerator to nurture young fintech talent
The move is in line with the authority’s push towards an era of Smart Banking.
Mortgage applications down 14.2% to 10,520 in December
The value of approved mortgage loans also decreased to $27.8b.
Exchange Fund smashes records after investment income hits $252b in 2017
Total assets reached $4.02t which represents a $404.8b annual increase.
Government warns public against cryptocurrency risks
A public education campaign was jointly launched by the FSTB and IEC.
Read Here
Advertise
Sign Up
