English Financial News

科技

Help Your Kids to Manage Finance Digitally

University graduates Chester Szeen and Teresa Chan found an all-in-one financial app - Mellow - to teach children how to save and spend money smartly on hopes to help the new generation to develop healthy spending habits. The idea of the app was born out from the two founders' experience. Szeen aske …

金融市場

Protesters urge massive ATM withdrawals as capital outflow fears mount

Hong Kong protesters' tactic of calling for massive withdraw of money from ATM seems to have a limited impact on the local banking system while the lingering social unrest may have seen billions of US dollars worth Hong Kong dollars fleeing to Singapore this summer. Goldman Sachs estimated between U …

每周焦點

Fitch downgrades HK rating following months of protests

International rating agency Fitch Ratings on Friday downgraded Hong Kong’s credit rating after three months of anti-government protests, which caused conflict and violence in the city, while Hong Kong leader Carrie Lam disagreed and said the clashes did not erode the rule of law in the city. The rat …

金融市場

Imposing dividend tax seems arduous in Hong Kong

Heated debate about whether Hong Kong should impose dividend tax got overwhelmingly opposed voices, saying it may lead to capital outflow which could  further sabotages Hong Kong's image as an international financial centre. Overwhelming voice opposed to dividend tax “Introducing dividend tax may co …

HK Bank Regulator Grants Eight Virtual Bank Licenses

  • 2019-06-10

Hong Kong's banking regulator has granted eight virtual banking licenses to financial operators so far this year, allowing them to operate branchless savings and loans businesses. These moves increased the number of licensed banks in Hong Kong to 160, according to the Hong Kong Monetary Authority (H …

科技

Audiobook Lights Up e-book Market and Boosts Publishing Industry

The audience base of China's audiobook is expected to increase to 478 million, and the market value will expand to 6.36 billion RMB in 2019, according to a survey from China Network Security and Information Committee. This advanced function might boost the ebook market, whilst the copyright issue an …

Credit card trap - devil for youngsters

  • 2019-04-12

The younger generation tends to repay their credit debts later than the banks' payment due date, a report found, highlighting they are weak on financial management and personal finance. TransUnion, a credit rating company, said there are 2,800 credit card holders, who aged below 23 years old, repay …

每周焦點

Wedding spending rises but fewer people getting married could dim the market

The average cost on weddings has been increasing since 2014, buoyed by upward trend of the western wedding culture, yet this trend may vanish soon amid macroeconomic headwinds and a decrease number of weddings, business insiders said. A couple spent an average of HK$360,000 on their weddings in 2018 …

每周焦點

Debt default to rise amid China's deleveraging drive

Chinese corporate bond default amount hit a record high of RMB 115.45 billion (HK$135.49 billion) in 2018, while corporate bond default cases more than tripled to 119. The high leverage ratio of Chinese firms has led to an unprecedented wave of corporate bond defaults in China, experts said. Corpora …

每周焦點

HKEX tightens backdoor listing rules value of Chapter 21 firms rises

The Hong Kong Exchanges and Clearing Limited  (HKEX) has kept on tightening rules and regulations to curb backdoor listings and shell activities. However, the value of companies under Chapter 21, which could be used as shell companies, has been rising as the HKEX finds it hard to delist those compan …