Hong Kong
China and Hong Kong to strengthen capital market ties, senior official says
Hong Kong markets should be able to trade in Chinese government debt futures, says Fang Xinghai
HKMA fines Commerzbank for anti-money laundering lapses
German banking giant failed to conduct required checks on 17 customers between 2012 and 2016
HKMA deputy chief executive to retire early
Hong Kong’s finance secretary will chair a panel to pick a successor through open recruitment
HKMA invites CBDC business plans from private sector
Banks and tech companies may be invited to work with the central bank on future CBDC research
Hong Kong raises key interest rate by 75 basis points
HKMA chief warns consumers over mortgages as finance chief says housing market is “resilient”
Asian central banks deploy FX reserves to prop up currencies
Analysts remain confident in Asia’s financial stability, but recession risks are building
China and Hong Kong to launch derivatives trading link
HKMA chief says Swap Connect scheme will allow global investors to manage interest rate risks from bond investments on the mainland
PBoC launches renminbi reserve pool with BIS
Equivalent of $13.5 billion will be pooled by six central banks to withstand market volatility
Hong Kong and Taiwan raise rates
HKMA raises rates by 75bp, but local banks don’t follow, while Taiwan increases by 12.5bp
Nearly 30% of central banks implementing instant payments
Over half of respondents already oversee or operate instant payments
Central banks follow Fed with rate hikes
Several central banks have raised their policy rates in response to the Federal Reserve hike
Hong Kong recovery expected to slow – IMF
Fund warns of risks including exposures to Chinese real estate and further supply disruption
BIS and HKMA conclude green DLT project
HKMA says it is considering pilot issuance of tokenised green government bonds
HKMA says firms must report on national security law suspects
Financial regulators say firms must report on those arrested under anti-dissident law
Agustín Carstens on BIS strategic priorities, innovation and central bank policy
The BIS general manager speaks about policy trade-offs at critical time, tackling NBFIs and the dearth of ‘green’ assets, tech collaboration, and why he favours Biden’s $3.5trn infrastructure bill
PBoC widens offshore bond trading for Chinese investors
Large banks will be able to deal in foreign bonds via Hong Kong under new scheme
PBoC opens up wealth management to Hong Kong and Macau
China looks to shore up Hong Kong’s status as a financial centre amid concerns over security crackdown
HKMA says employees must be vaccinated or take regular test
Hong Kong financial regulators will all impose same regime, government official says
Book notes: Fintech regulation in China, by Robin Hui Huang
The book includes meticulous exploration of detailed regulations across the Chinese fintech sector, but risks missing some of the bigger picture due to China’s on/off oversight
Digital revolution: perks of a global Chinese CBDC
Chinese central bank digital currency has the potential to boost the renminbi’s internationalisation further, but only if international investors have access.
HKMA to hold AML/CFT ‘lab sessions’ for firms
Hong Kong’s central bank wants firms to upgrade AML/CFT technology
The renminbi in focus: reserve managers see promise
Reserve managers see potential in the renminbi and expect the International Monetary Fund to increase its weighting at the next special drawing rights reassessment
The renminbi’s inclusion in the SDR adds impetus to its internationalisation
Bank of China (Hong Kong) highlights the importance of opening up the onshore renminbi (RMB) foreign exchange market and improving the development of offshore RMB FX markets
Five years of the renminbi in SDR and its adoption in central bank portfolios
Policy-makers discuss what has impacted the renminbi’s adoption as a global reserve asset over the past five years.