Tag: hong kong

Private sector firms raised their headcounts for the first time in three months, however shipping delays have seen suppliers' delivery times lengthened.

Surveys show Hong Kong's SMEs facing rising costs, late payments, a tight credit stance from banks, and tariffs, despite an overall economic recovery in the SAR; bad weather has also been an issue this summer.

Firms with parent companies overseas in 2024 grew 10% in the city while almost 500,000 have applied to come under talent schemes; in addition, tourism has increased 12% to 24 million in the first six months of this year as the government releases a new business report.

69% of finance leaders surveyed in the SAR are exploring AI applications to transform and enhance treasury operations.

Payment Connect, which currently involves 12 financial institutions, links Hong Kong's FPS with China's IBPS, and went live on June 22.

The Hong Kong government is supporting exporters with insurance and cash flow needs, with Donald Trump now, temporarily, exempting electronics from tariffs imposed on China and Hong Kong.

The Mongolian national payment card has teamed up with a HK provider to be accepted in Hong Kong; the move is led by Mongolbank.

Global investors, with the majority in Asia, participated in the deal which included five year, 10 year and 30 year senior bonds, and is the largest US dollar bond issuance in Hong Kong in the Reg S format; the funds will help drive infrastructure development.

As Hong Kong looks to integrate more with Asean's economies, Thailand joins Indonesia and Singapore as a Recognised Stock Exchange in the Special Administrative Region.

Banks in the city can provide longer tenor trade finance services with higher volumes for both Chinese and international corporate clients, under a new HKMA arrangement; some firms have already secured liquidity.

HK's financial secretary is injecting HK$1.5bn into a scheme that helps Hong Kong businesses expand into mainland China, as Paul Chan predicts 2% to 3% GDP growth this year.

Chen will focus on growing Mastercard’s market presence and exploring new opportunities in the digital economy.