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Singapore paves way for ‘differentiated’ stablecoins

The Monetary Authority of Singapore (MAS) has published new proposals for the regulation of stablecoin issuers and intermediaries, in a move that underscores the city-state’s intent to become a global leader in the sector.  

Hong Kong to spend $3.8bn to attract talent and boost its financial centre

Following years of social restrictions to stem the spread of Covid-19, Hong Kong has launched a HK$30bn ($3.8bn) initiative to boost the city’s attractiveness as a financial and business centre and to stop an exodus of talent.

Singapore skyline

Singapore plots course towards becoming a smart financial centre

Singapore has deployed regulatory and legislative tools, and partnered with the financial services industry on other initiatives, to supercharge its fintech sector. By James King.

ASIFMA paper advises listed companies to pay closer attention to labour relations

Companies and investors should engage with each other on ESG matters and the managements of listed companies need to stay on top of labour issues, according to a paper published in Hong Kong for asset managers.

Chinese flag

China's near-term economic outlook is troubling

The government’s pursuit of a zero Covid policy via strict lockdowns is hitting households and businesses hard, while a slow-burn crisis in the real estate sector is threatening to upend financial system stability. All trends that have big consequences for banks.

SFC to enhance disclosures to boost Hong Kong’s role as a green financial centre

Providing better quality information and enhanced data disclosures are part of the Hong Kong Securities and Futures Commission’s (SFC’s) plans to help investors make better climate change-related decisions. 

ASIC extends licensing relief for foreign financial firms operating in Australia

Foreign financial services providers (FFSPs) are to get a further 12 months relief from having to hold an Australian financial services (AFS) licence for providing financial services to Australian wholesale clients.

renminbi

China banks face soaring NPLs as economic woes intensify

Concerns grow over China’s banking system as Covid lockdown-induced economic slowdowns, bursting property bubbles and fraud plague the country’s lenders.

John Yeap

Hong Kong’s push into carbon markets hobbled by lack of ‘trust’

Hong Kong is the latest entrant into the voluntary carbon market with a remit to channel much-needed overseas funds into mainland China. Its new regulatory regime needs to overcome a crippling lack of trust in offsets despite their vast growth prospects. 

Hong Kong takes next steps towards building its carbon market

The next steps to transform Hong Kong into a high-quality voluntary carbon market have been signed off, the Securities and Futures Commission (SFC) said in a statement on March 30.