Moody's Investors Service has downgraded the outlook for Hong Kong's banking system to negative from stable, citing its "concerns regarding persistent negative real interest rates" and the institutions' "growing exposures to Mainland China".
The price of gold may have fallen another $125 per ounce yesterday its greatest one-day loss ever but some retail investors in Hong Kong and mainland China are buying more of it, rather than selling, according to a columnist for the South China Morning Post.
The struggles Asian immigrants often face in obtaining legal residency in countries like the UK and US are well documented, but expatriates from these countries can face similar battles in their efforts to remain in China, an expat with experience of the difficulties has revealed.
Easton Investments Limited, the Australian company which recently said it was to buy a 19.9% stake in Singapore’s AAM Advisory through its Easton Wealth Asia subsidiary, has entered into a non-binding memorandum of understanding with ICBC (Australia) Investment Management Company (ICBCAIM).
From the first of June, China’s mutual funds market will become more open to a greater range of product providers, including securities firms and insurance companies, following the release last week of new rules by the Chinese regulator.
ICI Global, a trade association which represents global fund managers, has opened an office in Hong Kong to focus on the Asia Pacific region.
After soft-closing the proposition in December last year, Allianz Global Investors has reopened its Renminbi Fixed Income Fund.
Allianz Worldwide Care, the Dublin-based international health insurance provider, has unveiled a package of corporate healthcare plans for the Chinese market.
Samantha Ho has left Invesco Hong Kong with Mike Shiao and Joseph Tang taking over her fund management responsibilities.
Members of the Isle of Man business community this month presented to a group of 14 high net worth Chinese entrepreneurs, to raise awareness of the benefits of doing business with the island.
Julius Baer has opened a representative office in Shanghai, as it looks to expand into China.
Barclays Wealth has poached Januar Tjandra from Goldman Sachs as its Hong Kong-based head of Greater China.
