The explosion of protest over the pervasive practice serves as a reminder of how thoroughly the law is disregarded. Such mistreatment erodes confidence in the rule of law, encourages corruption, and casts doubt on the legitimacy of the administration. I purchased a three-story village house in a clan community on a Sai Kung bay over 22 years ago. It was encircled by a charming white picket fence and situated in the center of a 2,500 square foot patchwork-tile garden. It was a property I had always dreamed of having, surrounded by mountains and near to the lake, and light years away from th ..read more

Hong Kong cryptocurrency investors are only permitted to utilize or trade on platforms that have been licenced by the securities authority for the area. Crypto investors using platforms not on its two lists were asked by the authority to either terminate their accounts or move their money to firms that are licenced. Checking the Regulatory Standing of a Virtual Asset Trading Platform Crypto investors in the area have been cautioned by the Hong Kong Securities and Futures Commission (SFC) to use and trade only on platforms that have been approved for virtual asset trading (VATP). The SFC underl ..read more

The Government’s Financial Services and the Treasury Bureau (FSTB), the Stock Exchange of Hong Kong Limited (HKEX), the Securities and Futures Commission (SFC), and other market participants were briefed on a proposed Integrated Fund Platform (IFP) on December 4, 2023, by the Hong Kong Investment Funds Association (HKIFA). Aiming to increase fund distribution, improve market efficiency, and reduce transaction costs, the Chief Executive’s 2023 Policy Address includes the IFP (see §72(iii)). An outline of the IFP’s suggested features The whole retail fund value chain and distribution cycle in Ho ..read more

Early in 2023, Dylan Run, an executive in the banking industry headquartered in Shanghai, began allocating a portion of his funds to cryptocurrency after realising that both the Chinese stock market and economy were in decline. China has outlawed the mining and trading of cryptocurrencies since 2021. In order to avoid detection, they bought cryptocurrency through grey-market dealers using bank cards that were previously provided by small rural commercial banks, capping each transaction at 50,000 yuan ($6,978). “Bitcoin is a safe haven, like gold,” says Run. Currently, half of his investment po ..read more

The market is acting “in line with expectations,” according to Chief Executive John Lee, and there are no indications of anomalies. After falling below the 15,000-point threshold the day before, the Hang Seng Index rebounded early on Tuesday. The head of the city stated that although the Hong Kong stock market has been affected by negative global sentiment, it is still performing “in line with expectations” and is appealing to investors worldwide, even if its benchmark index fell to a 15-month low. Tuesday morning saw a rebound for the Hang Seng Index, which had fallen below the 15,000-poi ..read more

Just hours after the same remarks caused Beijing to strike out, Secretary of State Mike Pompeo’s staff teased Beijing by advising Hong Kong not to approve a contentious extradition law. “If passed, the ordinance would permit Chinese authorities to request the extradition of individuals to mainland China, and submit such individuals to China’s capricious judicial system,” a State Department representative told the Washington Examiner Friday afternoon. This warning was conveyed in defiance of the communist state, which earlier on Friday called a senior American ambassador to the Chinese Foreign ..read more

Over the last five sessions, the Hong Kong stock market has ended down, falling more than 800 points, or 4.8 percent. Even though Tuesday’s support is long overdue, the Hang Seng Index is still hovering just over the 16,220-point threshold. The worldwide outlook for the Asian markets is positive due to the decline in bond rates and bargain hunting. The Asian exchanges are predicted to open in a manner akin to that of the European and American markets, which were both higher. Monday’s closing low on the Hang Seng was caused by losses around the board, particularly in the real estate, technology ..read more

Lenders are putting up incentives to draw in new business as clients battle to lock in rates that are among the highest in over ten years, intensifying the competition for Hong Kong bank accounts. In order to attract new business ahead of an anticipated drop in interest rates later this year, several banks are paying as much as 5% annually for term deposits and offering incentives like flight miles and fee exemptions. Because the local currency is pegged to the US dollar, the base rate of the city moves in lockstep with the US Federal Reserve. As the interest rate cycle is expected to settle d ..read more

Chinese authorities have been cracking down on the use of cryptocurrencies like Tether USDT for more than two years after implementing an extensive ban on them. In forex exchange trading, the citizens have been cautioned by China’s Supreme People’s Procuratorate (SPP), the top national body in charge of prosecutions in mainland China, not to use USDT as a middleman when exchanging the Chinese yuan for other fiat currencies. The State Administration of Foreign currency (SAFE) and the agency released a joint statement in which they urged local authorities to take more action against stablecoin u ..read more

Most investors in virtual assets in Hong Kong are fearful of missing out on chances, embrace cryptocurrency as a trend in investing, and seek for short-term gains. One of the main conclusions of the “Retail Investor Research 2023” report was that 75% of the city-state’s virtual asset investors were surveyed with the goal of obtaining short-term returns.  Furthermore, a majority of the respondents, or 74%, thought that virtual assets were a trend in investing, suggesting that there is a general understanding of their potential for expansion and financial gain. A further 73% of respondents ..read more