Hong Kong

VC firms, sovereign wealth funds, and PE funds that set up in the Qianhai free-trade zone will be given cash grants, rental subsidies, and other rewards.

The guidance is intended to help funds and their auditors prepare the necessary reports needed to obtain carried interest tax concessions.

The SFC is calling on licenced corporations to address regulatory deficiencies identified in some investment services offered online.

Banks' agreements with CSPs should ensure the HKMA can access information stored in the cloud and relevant risk management controls for on-site examinations.

Banks are encouraged to access credit data in the CCRA database via the CDI, to help them automate credit approvals and enhance efficiency.

Alibaba, Netease, Baidu, JD.com and Yum China are among the first Chinese firms selected for the PCAOB's audit checks in Hong Kong

Fraudsters claiming to be financial advisors are soliciting deposits in unknown foreign banks by promising high deposit rates.

The HKMA found control lapses in onboarding due diligence as well as ineffective procedures for determining whether beneficial owners were PEPs.

The full scope of the probe into AMTD Group and its current status are "unclear", but it is said to be related to previous underwriting deals.

The RMB counter will trade only in the secondary market, starting from 19 September, when Hang Seng Investment Management takes over as manager.