Financial Services
HK is 7th most crypto-ready market in the world
The city is home to 251 crypto-based companies.
Exchange Fund posts investment loss of $202.4b in 2022
It also ended the year with a negative investment return of 4.4%.
Hong Kong banks offer up to 30% salary raise amidst talent crunch
Talents for in-demand roles can clinch salary increments as high as 30%.
Credit and charge card payments to exceed $800b in 2026
The market is expected to grow at a CAGR of 3.9% between 2022-2026.
Citi entices Hong Kong’s ultra-wealthy with first-ever Global Wealth Centre
The 10,000-square-foot space is staffed by senior bankers and specialists.
Greater Bay Area SMEs show ‘strong appetite’ for financial services
Many SMEs are underbanked, Bain & Company found.
6 in 10 SMEs plan to invest over 15% of their revenue within GBA: survey
Enterprises are highly optimistic about GBA’s economic growth potential.
Hang Seng Bank raises prime rate to 5.625%
The bank will also be raising its savings rate by 0.625% per annum.
HKMA raises its base rate to 4.75%
The new rate took effect on 15 December.
What Hong Kongers are saving their money for?
Inflation, however, is hindering them to pursue these goals.
Hong Kong rolls out roadmap to boost insurance sector
The roadmap seeks to enlarge insurance firms’ access to other markets amongst others.
Approved mortgage loans drop 4.7% MoM in October
The drop was likely due to the decrease in applications during the same month.
Hong Kongers trust ‘Big Tech’ more than banks for banking services: survey
86% said they trust big tech as much as or more than banks.
Hungry for money: 6 in 10 millennials will work more to increase their wealth
They are even willing to compromise their relations to maximise their riches.
Dah Sing Bank adjusts HKD deposit and prime rate
The new rates will take effect from 7 November.
HKMA raises its base rate to 4.25%
The new rate took effect on 3 November.