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Makeup artist Mao Geping. Photo: Weibo
IPO

Chinese cosmetics firm Mao Geping prices shares at top end of range ahead of IPO

Shares were priced at HK$29.80, according to exchange filings.

C-suite interviews

OCBC opens new Hong Kong office to house up to 15% more staff

Hong Kong economy

Editorial | Hong Kong is counting on innovative investment

Ant Group

Ant Group promotes CFO Han to top post as Alipay owner marks 20-year milestone

CEO Eric Jing will relinquish his management post on March 1 next year and retain his role as group chairman, according to an internal memo on Sunday.

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Chairman and CEO Eric Jing will relinquish his management role from March next year, according to an intermal memo on December 8. Photo: Xiaomei Chen
Hong Kong economy

Exclusive | Deepening Hong Kong, Iran ties show US curbs have ‘lost their potency’: envoy

Ambassador Mohsen Bakhtiar says measures have been taken to overcome sanctions restricting Iranian firms from accessing services in the city.

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China-Africa relations

African banks set up shop in China as Beijing pushes for yuan-based trade

African banks are positioning themselves to take full economic advantage as Beijing seeks to de-dollarise its trade.

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Bonds

Hong Kong US$2.7 billion infrastructure bond offering is undersubscribed

The offering sees underwhelming investor demand, missing expectations.

The government attributed the lacklustre response to the bond offering to investors preferring to put their money into the Hong Kong initial public offering market. Photo: May Tse
Greater Bay Area

Hong Kong-Shenzhen integration could spur capital flows, innovation: expert

At Qianhai Forum on Greater Bay Area cooperation, policy expert suggests Hong Kong firms should establish dual headquarters in Shenzhen.

Digital currencies

Hong Kong to introduce stablecoin bill to regulate virtual token

The government published the Stablecoins Bill in the gazette on December 6; first reading in the Legislative Council set for December 18.

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Hong Kong society

Letters | Pet-friendly bus route should prompt owners to obey rules

Readers discuss responsible pet ownership, the benefits of easing the path to tax residency in Hong Kong, and Russia’s rationale for attacking Ukraine.

A person walks with their dog in West Kowloon on November 20. Photo: Dickson Lee
China

The View | Trump could upend the US economy just as China is recovering

Trump’s economic strategy could change narratives not only about US markets but Chinese ones as well.

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Donald Trump, then Republican presidential nominee, listens as hedge fund manager Scott Bessent speaks on the economy in Asheville, North Carolina, on August 14. Bessent is Trump’s pick for Treasury secretary. Photo: AP
United States

China had nearly 100 fewer billionaires in 2024, UBS says

In Hong Kong, the billionaire tally rose to 74 from 68.

Hong Kong economy

Hong Kong firms plan hiring sprees as economy perks up in 2025: survey

Most executives expect revenue growth next year, and hiring intentions are at a four-year high, CPA Australia report says.

China's economic recovery

Vice-premier tells Goldman Sachs president investment will boost ties

He Lifeng has met top executives from at least five multinational companies in the past month.

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Vice-Premier He Lifeng held talks with John Waldron, president and chief operating officer of Goldman Sachs, in Beijing on Wednesday. Photo: Xinhua
Singapore

How a brazen nickel scam allegedly ensnared some of Singapore’s brightest

Ng Yu Zhi stands trial for allegedly orchestrating Singapore’s largest Ponzi scheme that defrauded nearly 1,000 investors.

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Ng Yu Zhi is accused of orchestrating one of Singapore’s biggest investment frauds. Photo: Reuters
Hong Kong stock market

ESR shares rally on US$7.1 billion take-private offer from founders, funds

Consortium offers HK$13 per share to take ESR private, or a stock swap with an offshore entity in a bid to refocus its business.

Hong Kong

Editorial | Hong Kong drug trials institute a healthy step forward

City closes in on fulfilling its ambition to be medical hub with its own approval authority for drugs and vaccines at cross-border tech zone.

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Insurance

Hong Kong needs to grow insurance talent to compete with Singapore, Dubai: CEOs

Lawrence Lam, Hong Kong CEO at Prudential, says data analysts have become more important than ever in the industry.

People crossing a busy street in Central, Hong Kong in October 2024. Photo: Dickson Lee
Hong Kong Monetary Authority (HKMA)

HKMA offers special policies to help those who bought at property market’s peak

One-off scheme increases loan-to-value ratio of mortgage loans to 80 per cent for those who bought unfinished properties from 2021 to 2023.

Wealth management

StanChart to hire more wealth managers in Hong Kong, Singapore by 2028

The UK lender is banking on winning new clients with more than US$10 million of assets in target markets.

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Hong Kong economy

Letters | Rest and recovery will help Hong Kong compete at top level again

Readers discuss misplaced pessimism over the city’s difficulties, the challenge of an ageing labour force, faith in our economic fundamentals, and equal marriage rights.

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A Star Ferry sails along Hong Kong’s Victoria Harbour on November 26. Photo: AFP
Mergers & Acquisitions

China’s 2025 M&As may rise 15% as deals bottom out, UBS says

UBS says China M&A deal volume fell 10 per cent in November from a year earlier to US$297 billion.

Samson Lambert Lo of UBS. Photo: Aileen Chuang
Hong Kong Monetary Authority (HKMA)

Hongkongers to get ‘Money Safe’ to protect bank funds from fraud

Additional verification procedures will be necessary to transfer locked-up funds when banks roll out the optional tool next year.

China’s economic stimulus

‘Supportive’ monetary policy pledged in glimpse of China’s 2025 economic plan

People’s Bank of China governor Pan Gongsheng pledges to ensure adequate liquidity and lower overall financing costs for businesses and households.

Climate change

Opinion | Southeast Asia’s energy transition is lacking both finance and policy

The bulk of funds needed will have to come from private finance, which requires a conducive environment that regulatory policy can create.

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Climate activists protest at the Cop 29 UN climate change conference in Baku, Azerbaijan, on November 23. Photo: EPA-EFE
Start-ups

Hong Kong government invests in 80 start-ups as war chest swells

Flush with proceeds from the city’s successful investment-migration scheme, HKIC puts money in local, mainland and overseas start-ups.

A robot performs in a demonstration at a launch ceremony for an investment by Hong Kong Investment Corp in Beijing-based Galbot, at Island Shangri-La on July 19, 2024. Photo: Dickson Lee
IPO

C-beauty brand Mao Geping to debut in Hong Kong with US$270 million IPO

Namesake founder rose to prominence as a make-up artist who helped Liu Xiaoqing play an empress who aged from 15 to 80 years in a TV drama.

IPO

Exclusive | Tencent-backed WeDoctor revives Hong Kong IPO plan, sources say

Healthcare platform plans to submit IPO application by end-December and complete fundraising of as much as US$500 million by June.

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Banking & finance
News about the global financial industry with a focus on developments in Hong Kong and China.
last updated:
19 September, 2024
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