Hong Kong considers launching an offshore renminbi venture fund to invest in cutting-edge tech and emerging industries, supporting yuan internationalisation.
Hong Kong Financial Secretary Paul Chan began a five-day European tour in Paris to attract global capital. He met with the French asset management association and a think tank, signaling interest in expanding Hong Kong's financial hub status.
Indonesia has unveiled a new vision to transform the holiday island of Bali into a global finance hub inspired by destinations such as Dubai, Hong Kong and Singapore, but the tourist hotspot faces a raft of systemic and infrastructural hurdles before it can attain the lofty goal. Indonesian Chief Economic Minister Airlangga Hartarto earlier this week said the government was finalising regulations to establish a financial hub in the Kura Kura Special Economic Zone (SEZ) on Serangan island, 500...
Chocolate Finance launches in Hong Kong as the latest Singapore wealth-tech firm to expand overseas, offering 3.8% annualised returns on idle cash with no minimum balance. CEO Tim Jones cites HK$4 trillion in idle bank savings and Hong Kong's role as a regional wealth hub as key reasons for choosing the city as first market beyond Singapore.
China-linked developers have become increasingly active in Singapore's property market, emerging as the second-largest investors in 2025 with 21% of total fixed-asset investment (S$14.16 billion), up from just 2.5% the previous year. Notable transactions include a S$951 million Dover Drive lot acquired by CNQC Realty, Forsea Residence and Jianan Realty Investments, and multiple sites acquired by Kingsford Group and Qingjian Realty. Europe topped the rankings at 25%, while the US fell from first to third place.
Goldman Sachs has barred its bankers in Hong Kong from using Anthropic's Claude AI models, following consultations with Anthropic and adopting a strict interpretation of its contract. The restriction does not extend to other AI vendors like OpenAI. Western AI models are banned in mainland China under the Great Firewall, while Hong Kong has generally operated outside those restrictions. US AI firms are concerned about 'distillation' - the risk that intensive use in China could help local actors train competing systems. The move could pose challenges for Hong Kong's role as a financial hub as bankers may fall behind peers elsewhere.
Goldman Sachs has prohibited its Hong Kong bankers from using Anthropic's Claude AI models, citing contract interpretations amid US-China tech tensions. This move, impacting coding and financial modeling, raises concerns for Hong Kong's financial hub status and other institutions using the AI. The restriction highlights broader worries about AI intellectual property theft and cybersecurity risks.
A 58-year-old former mechanic from Jiangsu province is struggling to find work in Shanghai, highlighting a paradox in China's financial hub where the city desperately needs workers to counter a shrinking population but ageing jobseekers face high fees and physically demanding jobs. Labour agencies charge upfront fees of around 1,200 yuan (US$175) before introducing any work, and most available jobs involve long hours. The search coincides with Shanghai's new government initiative to mobilise the elderly to address a worsening demographic crisis.
