HKMA

New Business

Hong Kong’s December mortgages shrink 21.1% as high rates drive homebuyers to sidelines

Hong Kong’s mortgage applications fell by more than a fifth in December, according to the city’s de facto central bank,…

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New Business

Hong Kong’s SFC fines Hang Seng Bank US$8.5 million for misconduct

Hong Kong’s markets watchdog has fined Hang Seng Bank HK$66.4 million (US$8.5 million) for regulatory failures and overcharging clients. The…

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New Business

Mainland Chinese buyers to continue driving Hong Kong housing demand in 2025, analysts say

Homebuyers from mainland China will continue to be a driving force in Hong Kong’s residential property market in 2025, after…

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New Business

HKMA picks 10 banks, 4 tech firms as Hong Kong evaluates commercial benefits of GenAI

The Hong Kong Monetary Authority has picked 10 banks and four technology partners to test more than a dozen use…

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New Business

In Hong Kong vs Trump 2.0, global CEOs see new hopes, old threats

China envisions Hong Kong’s capital markets as a beacon of prosperity, having lifted the city out of social chaos in…

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Tech

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

Hong Kong’s de facto central bank on Wednesday launched a sandbox for wholesale central bank digital currency (wCBDC), with six…

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New Business

HKMA links data platform with Companies Registry to help SMEs open bank accounts

Hong Kong’s de facto central bank is pulling out all the stops to help the city’s struggling small and medium-sized…

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Tech

Hong Kong issues generative AI guidelines to banks to avoid bias against consumers

Hong Kong’s de facto central bank is urging financial institutions in the city to follow a new set of guidelines…

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Tech

HKMA, Cyberport collaborate on GenAI sandbox to foster adoption in city’s banking industry

The HKMA did not specify the eligible requirements for the GenAI sandbox and its application process, but said these details…

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New Business

Hong Kong rules out more virtual banks, citing need for ‘healthy development’ of sector

The Hong Kong Monetary Authority (HKMA) has ruled out issuing new virtual bank licences after a review found that the…

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