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Middle East sovereign wealth funds invested $2.3 billion in the greater China market in 2023, a significant increase from the previous year. This influx of capital is seen as important because it has a positive impact on the local industry and the general public, according to Kenneth Hui of the Hong Kong Monetary Authority. Hong Kong has been actively seeking funding from Saudi Arabia and other Middle Eastern countries to revitalize its stock market, which experienced a decline in initial public offerings due to market volatility and tensions between China and the US. [Extracted from the article]

Hong Kong's top market regulator, Tim Lui, has proposed that China lower the minimum asset requirement for investors to participate in the stock trading link with Hong Kong. Lui suggests lowering the threshold from 500,000 yuan to 100,000 yuan in order to boost liquidity and trading. This move would provide more opportunities for mainland investors and increase Hong Kong's market liquidity. Lui also recommends aligning dividend tax benefits for mainland and international investors and encouraging Chinese firms to list in Hong Kong to mitigate potential delisting risks. He emphasizes the need for a more prudent approach to regulation to restore investor confidence in the Hong Kong market. [Extracted from the article]

The Hong Kong stock exchange has set a deadline for listed companies to include at least one woman on their boards by the end of this year. While most companies have complied, nearly 500 are still governed by all-male boards, with the largest offenders being Chinese state-owned companies or their affiliates. Advocates for gender diversity argue that having women on boards leads to better financial performance and a wider commitment to gender equality. The Hong Kong stock exchange has not specified the consequences for non-compliant firms, but there are calls for a zero-tolerance approach. [Extracted from the article]

Hong Kong is considering implementing rules for stablecoins, and several companies, including Harvest Global Investments, RD Technologies, and Venture Smart Financial Holdings, are in talks with the Hong Kong Monetary Authority about participating in stablecoin trials. Stablecoins are digital tokens that are typically pegged to fiat currencies and backed by reserves of cash and bonds. They are used for crypto trading and lending, but some argue they could have wider use in payments. The stablecoin market is currently dominated by US dollar-linked tokens, but a Hong Kong-dollar referenced token could be a "powerful alternative." [Extracted from the article]

Hong Kong has announced several measures to deepen its financial links with China, aiming to integrate the city further with the mainland. The measures include facilitating real estate purchases, expanding the Wealth Connect program, opening China's onshore repo market, and allowing Chinese state bonds as qualified collateral. The move comes as Hong Kong seeks to regain momentum after facing challenges from strict Covid policies and the imposition of a national security law in 2020. The expansion of financial links between Hong Kong and China is occurring amidst turmoil in both markets, with Chinese and Hong Kong stocks experiencing significant losses. [Extracted from the article]

Hong Kong has announced several measures to deepen its financial links with China, aiming to integrate the city further with the mainland. The measures include facilitating mainland real estate purchases, expanding the Wealth Connect program, and opening China's onshore repo market. The authorities also plan to allow bonds issued by the Chinese state and its policy banks as qualified collateral for the Hong Kong Monetary Authority's Renminbi Liquidity Facility. These policies are intended to support Hong Kong's role as a key offshore RMB center and attract more foreign investment in China's onshore bonds. The move comes as Hong Kong seeks to regain momentum after facing challenges due to strict Covid policies and the imposition of a national security law in 2020. Despite recent turmoil in both the mainland and Hong Kong markets, Chinese and Hong Kong stocks have rallied this week following signals of support from Chinese officials. Hong Kong has been expanding its financial links with China in recent years, including the establishment of Stock and Bond Connects and the launch of the Wealth Connect program. [Extracted from the article]

Hong Kong's local council elections had the lowest turnout in nearly three decades, with only 27.5% of eligible voters casting ballots. This decline in participation can be attributed to a lack of political diversity and the revamp of the system to solidify China's control. In 2019, a record 71% of voters turned out and handed pro-democracy candidates a landslide victory, but since then, a national security law has been imposed and pro-democracy candidates have been effectively excluded from the elections. The new district council system required candidates to secure endorsements from government-appointed committees loyal to Beijing. Despite efforts to encourage voting, such as discounted flights and celebrity endorsements, the low turnout suggests a widespread disengagement from politics. [Extracted from the article]

Hong Kong's local council elections had the lowest turnout in nearly three decades, with only 27.5% of eligible voters casting ballots. This decline in participation can be attributed to a lack of political diversity after China implemented changes to solidify its control over Hong Kong. In 2019, a record 71% of voters turned out and handed pro-democracy candidates a landslide victory, but this year's elections saw a dramatic reversal due to the exclusion of pro-democracy candidates and the imposition of a national security law. The low turnout indicates a widespread disengagement from politics rather than political apathy. [Extracted from the article]

Hong Kong's local council elections experienced a record-low turnout, with only 27.5% of eligible voters participating. This decline in participation can be attributed to a lack of political diversity following China's revamp to solidify its control over Hong Kong. In the previous election in 2019, a record 71% of voters turned out, reflecting widespread dissatisfaction and resulting in a victory for pro-democracy candidates. However, the subsequent imposition of a national security law and the redesign of local district councils to exclude pro-democracy candidates have limited citizens' ability to voice their concerns through the electoral process. The majority of this year's candidates were loyal to mainland China, and contenders had to secure endorsements from government-appointed committees filled with Beijing loyalists. Despite efforts to encourage voter participation, such as discounted flights and celebrity endorsements, the low turnout suggests a widespread disengagement from politics. [Extracted from the article]

The aggressive moves by Beijing to support markets are speeding up plans for Hong Kong to come up with its own measures to revive activity of trading and initial public offerings. (Bloomberg) -- China's unexpected move to cut its stock trading tax is adding pressure on Hong Kong to follow suit, creating a dilemma for the city's finance chief over the potential hit to government income. [Extracted from the article]

(Bloomberg) -- Authorities are set to allow stock block trading in the link that connects Hong Kong and mainland China, opening up further to support struggling markets amid sluggish economic growth. "This initiative will enhance the price discovery functions of both markets and encourage more overseas investors to participate in the A-share market through Stock Connect", she said. [Extracted from the article]

(Bloomberg) -- US audit officials have started a fresh round of inspections of New York-listed Chinese companies in recent weeks as tensions mount between the world's two largest economies. In a May statement, board Chair Erica Williams said the agency expects field work to continue this year, with a goal of reviewing companies that account for 99% of the market value of US-listed firms that are audited by Hong Kong and China firms. [Extracted from the article]

Other products are also in the pipeline, including Swap Connect, which, when in place, will link Hong Kong and international investors with China's interest rate swap market. (Bloomberg) -- Four years after Chinese stocks were included in benchmark global indexes, a tumultuous time in Chinese markets has underscored the need for a broader set of ways to guard against risk. [Extracted from the article]

Other products are also in the pipeline, including Swap Connect, which, when in place, will link Hong Kong and international investors with China's interest rate swap market. (Bloomberg) -- Four years after Chinese stocks were included in benchmark global indexes, a tumultuous time in Chinese markets has underscored the need for a broader set of ways to guard against risk. [Extracted from the article]

(Bloomberg) -- The Chinese agency overseeing national security in Hong Kong splurged on a HK$508 million ($65 million) mansion in the city's upscale Beacon Hill neighborhood. Some 230 individuals have been arrested by the national security police, including former opposition lawmakers, journalists and pro-democracy activists. [Extracted from the article]

If a Hong Kong court gives a winding-up order and appoints a provisional liquidator, the latter takes control of the firm in question and disposes of realizable assets, according to an explanation posted on the Official Receiver's Office website. (Bloomberg) -- A Hong Kong court has issued an order that a Chinese developer's unit that defaulted on offshore debt be wound up, the first such instance against a major builder during the country's property-debt crisis and opening the door to more such decisions. [Extracted from the article]

The order regarding Yango Justice International Ltd. was dated Oct. 17, according to a winding up search report done through the website of Hong Kong's Official Receiver's Office. (Bloomberg) -- A Hong Kong court has issued an order that a Chinese developer's unit that defaulted on offshore debt be wound up, the first such instance against a major builder during the country's property-debt crisis and opening the door to more such decisions. [Extracted from the article]

(Bloomberg) -- Huatai Securities Co. is joining rivals to secure licenses for stock deals and trading in Zurich and Frankfurt as Chinese firms seek to build a greater presence in European markets amid growing tension between Beijing and Washington. Doing a European share sale won't preclude a future Hong Kong issuance for firms, he said. Secondary share sales in Europe are appealing to Chinese companies because of favorable valuations and an easier legal structure between fungible, or interchangeable, GDRs and their shares at home, said Wang. [Extracted from the article]

(Bloomberg) -- Regulators agreed to expand the Stock Connect trading days between Hong Kong and mainland China by eliminating stoppages around holidays to allow investors better access to shares in the world's second-largest economy. Both clearing houses will make corresponding adjustments to settlement arrangements and related business practices on the additional trading days, including corporate actions and setting record dates for eligible shares under Stock Connect, the regulators said. [Extracted from the article]

Keywords: ALLTOP; ASIA; BON; BUSINESS; CHINA; FRX; HK; MARKETS; STK; WORLD; WWTOP; WWTOPAS EN ALLTOP ASIA BON BUSINESS CHINA FRX HK MARKETS STK WORLD WWTOP WWTOPAS China's capital markets will probably more than triple to $100 trillion in the next decade with more foreign inflows and diversification from households, the head of Hong Kong's stock exchange said. R22VJ3DWRGG0 (Bloomberg) -- China's capital markets will probably more than triple to $100 trillion in the next decade with more foreign inflows and diversification from households, the head of Hong Kong's stock exchange said. [Extracted from the article]

(Bloomberg) -- Hong Kong's stock exchange reported its second consecutive quarterly profit decline against a backdrop of a widening crackdown by China on a broad range of sectors that roiled markets and triggered delays of major initial public offerings. Dragged down by falling investments, net income at Hong Kong Exchanges & Clearing Ltd. fell to HK$3.25 billion ($418 million) in the three months through September from HK$3.35 billion a year earlier, according to the bourse. [Extracted from the article]

Keywords: 3333@HK; ASIA; BON; BUSINESS; CHINA; COS; FIN; INDUSTRIES; MARKETS; REL; WORLD EN 3333@HK ASIA BON BUSINESS CHINA COS FIN INDUSTRIES MARKETS REL WORLD QZ8UYMDWRGG4 (Bloomberg) -- China Evergrande Group Chairman Hui Ka Yan said the company will ensure full and early repayment of all maturing wealth management products, Radio Television Hong Kong reported, citing a company press release. Evergrande released an interim repayment plan Thursday for matured wealth management products held by retail investors, according to a REDD report Friday. [Extracted from the article]

HSBC Hong Kong will be partnering HSBC China initially, given the complexity and the "know your customer" process, but the bank is "definitely open" to also partnering with mainland banks, Chan said. A survey conducted by HSBC and the Nielson Co. (Hong Kong) found more than 80% of mainland investors in the area plan to invest through wealth management connect. [Extracted from the article]

At the initial stage, mainland Chinese investors will be limited to "low" and "medium" risk and "non-complex" Hong Kong products such as deposits and bonds, as well as Hong Kong-domiciled funds, including equities, authorized by the regulator. A survey conducted by HSBC and the Nielson Co. (Hong Kong) found more than 80% of mainland investors in the area plan to invest through wealth management connect. [Extracted from the article]

A survey conducted by HSBC and the Nielson Co. (Hong Kong) found more than 80% of mainland investors in the area plan to invest through wealth management connect. (Bloomberg) -- A long-awaited program to allow investments for private wealth between Hong Kong and mega-cities in China's southern region will open for cross-border flows as soon as next month. [Extracted from the article]

"We -- and -- I have great confidence in Hong Kong and its future", Tucker said at the event, according to a LinkedIn post by HSBC. HSBC's Chairman Says China Opportunities "Too Big to Ignore" Despite Politics (Bloomberg) -- HSBC Holdings Plc Chairman Mark Tucker, speaking in Hong Kong after passing through the city's rigid three-week quarantine, said the opportunities in China are "too big to ignore" even as geopolitical tensions escalate. [Extracted from the article]

(Bloomberg) -- Hong Kong's decision to query opposition candidates about ties with foreign governments suggests authorities could be preparing to use new national security legislation to disqualify pro-democracy advocates ahead of a key fall election. At least seven potential pro-democracy candidates for Hong Kong's Legislative Council elections have received questionnaires from the government asking them to show they haven't violated the city's mini constitution, known as the Basic Law, or the recently imposed security measures. [Extracted from the article]

(Bloomberg) -- Hong Kong's decision to query opposition candidates about ties with foreign governments suggests authorities could be preparing to use new national security legislation to disqualify pro-democracy advocates ahead of a key fall election. At least seven potential pro-democracy candidates for Hong Kong's Legislative Council elections have received questionnaires from the government asking them to show they haven't violated the city's mini constitution, known as the Basic Law, or the recently imposed security measures. Life Sentences In a series of Twitter posts, Wong -- the subject of a Netflix documentary -- blasted the government for seeking to ban opposition candidates. [Extracted from the article]

(Bloomberg) -- Hong Kong's decision to query opposition candidates about ties with foreign governments suggests authorities could be preparing to use new national security legislation to disqualify pro-democracy advocates ahead of a key fall election. At least seven potential pro-democracy candidates for Hong Kong's Legislative Council elections have received questionnaires from the government asking them to show they haven't violated the city's mini constitution, known as the Basic Law, or the recently imposed security measures. [Extracted from the article]

(Bloomberg) -- China's top legislative body will vote on Hong Kong's security legislation Tuesday morning, the day before the city's handover anniversary, Now TV News reported, signaling Beijing may soon hand down a measure that pro-democracy activists and business groups say could erode the city's unique freedoms. Beijing sees the faster passing of the bill benefiting Hong Kong, according to the official Xinhua News Agency. [Extracted from the article]

(Bloomberg) -- China's top legislative body will vote on Hong Kong's security legislation Tuesday morning, the day before the city's handover anniversary, Now TV News reported, signaling Beijing may soon hand down a measure that pro-democracy activists and business groups say could erode the city's unique freedoms. "It is a shame that the so-called Hong Kong delegates just let the legislation go through like this", Ho said. About 56% of residents oppose the legislation, compared with 34% who support it, according to a Reuters/Hong Kong Public Opinion Research Institute poll released Friday. [Extracted from the article]

(Bloomberg) -- Hong Kong's exchange faces a challenging year as the spreading coronavirus chokes off deals, adding more urgency to its efforts to convince Beijing to further open its markets and cement the bourse's role as a gateway to China's corporate giants. "There's always uncertainty and the market knows that China never committed to anything", said Chi Man Wong, a Hong Kong-based analyst at China Galaxy International Financial Holdings Ltd. "Most of the time Hong Kong is ready, and it all depends on China". Other initiatives such as Primary Connect, which will allow Chinese investors to subscribe to Hong Kong IPOs and vice versa, and ETF Connect, are still both up in the air and at the mercy of Chinese policy makers. [Extracted from the article]

(Bloomberg) -- A local Hong Kong economist said he was asked to leave his job at a mainland Chinese-owned bank, in the latest example of political tensions erupting in the financial hub after months of protests. UBS Group AG put its top economist Paul Donovan on leave earlier this year after a reference in his research to "Chinese pigs" caused an avalanche of criticism in China. [Extracted from the article]

(Bloomberg) -- A local Hong Kong economist said he had to leave his job at a mainland Chinese-owned bank as months of protests stoke political tension across the financial hub. Pro-democracy protests have rocked Hong Kong for almost six months, stirring tension across workplaces in the former British colony, with bankers often caught in the midst. [Extracted from the article]

(Bloomberg) -- A local Hong Kong economist said he had to leave his job at a mainland Chinese-owned bank as months of protests stoke political tension across the financial hub. Local Hong Kong citizens and those emigrated from mainland China often clash online and in real life. [Extracted from the article]