Hogan Lovells hires M&A partner from White & Case

Shaohui Jiang, who most recently held the role of local partner at White & Case, joined Hogan Lovells in Hong Kong on June 11. Jiang (pictured) brings with him two members on his existing team to the latter, boosting Hogan Lovells’ mergers and acquisition (M&A) practice in the greater China region, according to a June … Read more

EU slaps tariffs on Chinese electric vehicles

The European Union (EU) has decided to implement tariffs on makers of battery electric vehicles (BEV) in China. The exact tariff depends on the model is on top of the existing 10% duties for exports. The European Commission (EC) said the tariffs would be 17.4% for BYD, 20% for Geely and 38.1% for Chinese state-owned SAIC … Read more

Putting index strategies at the heart of asset allocation

Please view highlights from the event.   Riding Asean’s growth wave via index-linked products Various factors are driving Asean’s growth story and creating enticing investment opportunities — from long-term trends such as sustainability, digitalisation, and regional economic integration, to short-term ones including global manufacturing and trade. In all cases, Geoff Howie (market strategist, SGX) and … Read more

HKEX sees much needed listings boost

In a boost to the local economy, the Hong Kong Stock Exchange (HKEX) has seen several larger applications to list in recent weeks, with the overall number of applications so far this year above 100.  This includes QuantumPharm, a pre-revenue Tencent-backed artificial intelligence drug researcher, which this week raised HK$989.3 million ($126.8 million) at HK$5.28 … Read more

Bangladesh sets contractionary budget, cuts growth target

Amid global financial uncertainty and a severe dollar dearth, Bangladesh has proposed a contractionary budget in the parliament for the fiscal year 2024-25, starting July 1, 2024.    It is also expecting a high dependence on borrowing from the banking sector and to be reliant on foreign debts for development works.   Bangladesh’s finance minister, … Read more

Hong Kong’s crypto competitiveness challenge

The US Securities and Exchange Commission (SEC) approved rule changes on May 23 that paves the way for spot Ether ETFs, in a development which reflects expanding institutional acceptance and regulatory clarity for the world’s second-largest cryptocurrency after Bitcoin. While the move is expected to lift crypto demand, the endorsement’s timing came as a surprise, … Read more

Blockchain interoperability steps up in Asia

As asset tokenisation gains traction due to its potential higher transaction efficiency and security, the market is expected to unlock an estimated $16 trillion in value by 2030, according to an estimation by Boston Consulting Group and ADDX last year. Tokenisation refers to the process where the rights to a given asset are duplicated and … Read more

Citi completes sale of Chinese consumer unit to HSBC

Citi has completed the sale an migration of its onshore consumer wealth portfolio in China to HSBC Bank China (HSBC), including the transfer of more than 300 employees, including in Shanghai. Citi and HSBC first announced the $3.6 billion deal in October 2023 as Citi exited 14 consumer businesses in Asia, Europe, the Middle East … Read more

Shangri-La Asia issues its first panda bond

Shangri-La Asia has issued its first panda bond, which is a first for a Hong Kong listed hospitality group.  The Rmb1 billion ($140 million) three-year note is jointly managed by Bank of China, China Merchants Securities and Mizuho Bank (China), according to a June 5 media release. Shangri-La had set up a Rmb20 billion medium … Read more