14th August 2020
Li Qianxin, the elder daughter of the Chinese Communist Party’s No. 3 leader, has quietly crafted a life in Hong Kong that traverses the city’s financial elite and the secretive world of Chinese politics. For years, she has mingled with senior executives of state companies through Hong Kong and mainland… Read More
13th August 2020
China’s largest state-run banks operating in Hong Kong are taking tentative steps to comply with U.S. sanctions imposed on officials in the city, seeking to safeguard their access to crucial dollar funding and overseas networks. Major lenders with operations in the U.S. including Bank of China Ltd., China… Read More
13th August 2020
Indian tax authorities raided the premises of a few Chinese entities and their associates for money laundering, according to an official statement late on Tuesday, adding to New Delhi’s growing discomfort with Beijing after a border clash in June. Since the clash, Prime Minister Narendra Modi’s government has taken steps… Read More
11th August 2020
Citigroup Inc. and Standard Chartered Plc are stepping up scrutiny of banking clients in Hong Kong, aiming to avoid violating U.S. sanctions on officials in the former British colony. U.S.-based Citigroup is already taking steps to suspend accounts linked to some of the 11 targeted individuals, one person… Read More
10th August 2020
The U.S. levied sanctions on some of Hong Kong’s leading officials and China’s top enforcers of Beijing’s clampdown on the territory, ratcheting up the Trump administration’s use of sanctions against senior Chinese political figures. The Treasury Department measures target the territory’s Beijing-appointed chief executive Carrie Lam and several other current… Read More
7th August 2020
Hong Kong police on Wednesday cracked down on a loan shark syndicate that had been preying on Filipino domestic workers headed to the city, lending them HK$23 million at interest rates as high as 195 per cent a year – triple the permitted rate. Officers arrested two men and… Read More
4th August 2020
Japanese politicians from across the political spectrum have set up a group to discuss a bill that would impose sanctions on foreign individuals and organisations that have committed human rights abuses, with particular attention being paid to Hong Kong. The group held its first meeting on Wednesday, with 30… Read More
30th July 2020
China should prepare for potential U.S. sanctions by increasing use of its own financial messaging network for cross-border transactions in the mainland, Hong Kong and Macau, according to a report from the investment banking unit of Bank of China. Chinese state lenders have been revamping contingency plans in anticipation of… Read More
29th July 2020
The European Union imposed sanctions on China over its treatment of Hong Kong on Tuesday, inching the bloc closer to the Trump administration’s more hawkish stance toward Beijing. The sanctions include limiting exports of equipment China could use for repression and reassessing extradition arrangements in light of Beijing’s imposition of… Read More
29th July 2020
Five core members of a transnational online credit-card fraud syndicate, believed to be operating from Hong Kong, were arrested this month by the Hong Kong Police Force (HKPF). The syndicate allegedly used credit card details, which were stolen via phishing emails from cardholders in Singapore, to make a series of… Read More