Featured Hong Kong

HK bankers and lawyers win right to apply for access to corporate registry

Hong Kong bankers and lawyers will be able to search the city’s companies registry under proposed exemptions to plans to tighten public access to the database, Secretary for Financial Services Christopher Hui said on Saturday. Business and governance experts have criticised a government plan to restrict access to the personal… Read More

China Passes Law to Counter Foreign Sanctions

China enacted a new law aimed at countering foreign sanctions, in response to U.S. and European efforts to pressure Beijing on issues spanning human rights, trade and technology. Senior members of China’s legislature approved the “anti-foreign-sanctions law” on Thursday, state media said, following an expedited process that skipped public consultation… Read More

Asia-Pacific Drug Trade Thriving as Gangs Make Billions in Profits, UN Says

Asia’s drug lords have established new manufacturing hubs and maritime trafficking routes to ramp up the supply of methamphetamine across the Asia-Pacific, the United Nations crime agency said Thursday. The value of the drug trade in the region is estimated between $30.3 billion and $61.4 billion, the agency said. Seizures… Read More
10th June 2021
European companies have expressed alarm about a new Chinese anti-sanctions law, saying they are concerned by a lack of transparency. The law is expected to pass on Thursday at the closing session of the National People’s Congress Standing Committee. It will be the first major legal move by Beijing to… Read More
8th June 2021
Chinese lawmakers are making progress on legislation to retaliate for foreign sanctions amid the country’s growing rivalry with the U.S. A National People’s Congress committee filed the second draft of legislation aimed at countering sanctions imposed by foreign governments, the official Xinhua News Agency reported late Monday. Xinhua didn’t… Read More
3rd June 2021
Hong Kong stocks fell by the most in three weeks, stalling a two-month rally amid a report saying President Joe Biden was preparing to amend US sanctions on Chinese companies with ties to the military, including the addition of new targets. The Hang Seng Index dropped 1.1 per… Read More
31st May 2021
When Singaporean car dealer Keith Oh first read the Facebook message, he wasn’t sure it was real. A Chinese client ordered a S$1.1 million ($830,000) Bentley—sight unseen—over the social network. “They just asked for the price and when we could do the delivery, that’s all,” he said. “It’s a million… Read More
27th May 2021
Hong Kong’s security chief sent letters to media tycoon Jimmy Lai and branches of HSBC and Citibank this month threatening up to seven years’ jail for any dealings with the billionaire’s accounts in the city, according to documents seen by Reuters. The letters, signed by Secretary for Security John Lee,… Read More
26th May 2021
Crypto-exchanges and start-ups welcomed Hong Kong’s move to introduce mandatory licensing for all virtual asset service providers and jail time for rogue players, saying that the proposal will likely deter non-compliant players and reduce competition. The city’s Financial Services and Treasury Bureau published its conclusion on legislative proposals last… Read More
24th May 2021
Hong Kong needs to make further corporate governance improvements as the city and other financial centres in Asia continue to lag behind on some governance best practices, according to a new report by the Asian Corporate Governance Association (ACGA). The city ranked second, alongside Singapore, in the long-running CG Watch… Read More
18th May 2021
Hong Kong’s top treasury official rejected concerns that the expansive Beijing-imposed security law will damage the city’s status as an Asian hub for business and finance. In an interview on Monday, Secretary for Financial Services and the Treasury Christopher Hui said he’s heard no concerns in contacts and engagements with… Read More
17th May 2021
Hong Kong authorities have frozen nearly HK$500 million of jailed media tycoon Jimmy Lai Chee-ying’s assets in the first such use of new powers granted under the city’s national security law. The government issued a statement on Friday night announcing that the secretary for security had ordered Lai’s shares… Read More
13th May 2021
By Chris Dalby, InSight Crime, 12 May 2021 InSight Crime — While the involvement of Chinese money-laundering rings in handling drug proceeds from Mexico is nothing new, a number of recent court cases in the United States have revealed crucial information about how these schemes work. Read More