City Hong Kong Financial News

By Scott Murdoch and Clare Jim

Hong Kong has introduced the new Capital Investment Entrant Scheme which opened for applicants on March 1. To qualify, an applicant needs to invest at least HK$30 million in permissible assets. Successful applicants can bring dependents (including spouse and unmarried children under 18) to Hong Kong and typically receive permission to stay for two years. After this initial period, they can apply for a three-year extension and subsequently request further extensions. After residing continuously in Hong Kong for at least seven years, they can apply for permanent residency as per Hong Kong law. Following the announcement of the revised «Capital Investment Entrant Scheme» by Financial Secretary Paul Chan in the government's «Budget» in February 2023, Hong Kong Immigration Limited has fielded over 1,600 inquiries regarding the scheme by December's end. This indicates significant public interest in the Capital Investment Entrant Scheme (CIES).

Shares are mixed in Asia after China's premier said the country's target for economic growth this year is around 5%, in line with expectations

On March 4, ​​Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), issued a public notice about the cryptocurrency exchange BitForex over alleged fraudulent dealings.

A South Korean committee responsible for personal information matters is probing Worldcoin for collecting and processing sensitive information.

By Sarah Wu

The Hong Kong Securities and Futures Commission (SFC) issued a public warning today, urging investors to be cautious of suspicious websites impersonating legitimate virtual asset trading platforms. Two specific platforms were identified: HSKEX, impersonating Hash Blockchain Limited, operating these urls – www.hskexpro.com, www.hskex.com, www.hskexs.com and www.hskexit.com. www.oslexu.com and www.oslint.com were found impersonating OSL Digital Securities Limited.

By Marc Jones, Xie Yu and Scott Murdoch

The government kick-started the process for additional stake sale in General Insurance Corporation (GIC Re), with roadshows in key global financial hubs including New York, Singapore, Hong Kong, Dubai and London.

By Marc Jones, Xie Yu and Scott Murdoch

The deadline for virtual asset trading platform (VATP) crypto license applications in Hong Kong has passed , with the number of applicants reaching 24, a significantly lower figure than the 70 applicants seen in a similar scheme in Singapore.

Japanese stocks have again set a record, a day after U.S. stocks climbed to all-time highs

Hong Kong has been a relative latecomer to crypto trading, approving its first three cryptocurrency futures ETFs in late 2022.

On February 29, Hong Kong’s Securities and Futures Commission (SFC) closed its crypto licensing portal, setting a May 31 deadline for non-compliant exchanges to cease operations.

Hong Kong’s government is lifting some curbs on property deals after home prices fell to a seven-year low

Investing.com-- Alibaba Group's (NYSE:BABA) Hong Kong shares fell on Thursday after the firm’s cloud unit slashed prices across most of its products, citing plans to increase access to artificial intelligence development in China. 

As Hong Kong moves toward enacting a new national security law, more than three years after Beijing imposed a similar law that all but wiped out dissent and vocal pro-democracy media in the semi-autonomous Chinese city, concerns are spreading among the...

A new crop of nefarious chatbots with names like “BadGPT" and “FraudGPT" are springing up on the darkest corners of the web, as cybercriminals look to tap the same artificial intelligence behind OpenAI’s ChatGPT. Just as some office workers use ChatGPT to write better emails, hackers are using manipulated versions of AI chatbots to turbocharge their phishing emails.

Matrixport applied for a virtual asset trading license with Hong Kong’s securities regulator on Feb. 26.

By Clare Jim and James Pomfret

Investing.com-- Hong Kong-listed Chinese property stocks fell on Wednesday, coming under pressure from renewed concerns over a real estate meltdown after Country Garden (HK:2007) was slapped with a liquidation petition.