HSBC criticised for ‘political decision’ to close Hong Kong opposition party bank accounts June 5, 2023 HSBC has been criticised for closing bank accounts held by one of the few remaining opposition parties in Hong Kong as well as some of its core members. According to the Hong Kong Free Press, HSBC has closed three accounts belonging to the League of Social Democrats. In a letter explaining the decision, the bank [...]
Minister under fire for Hong Kong trade trip May 9, 2023 A leading Hong Kong rights activist, exiled in London, has described the first visit of a UK minister to the territory since 2018 as “unimaginable”. Dominic Johnson, a business minister, was in Hong Kong this weekend “as part of [his] mission to promote the UK as a leading destination for investment and trade”. “Hong Kong [...]
Hong Kong and Tokyo: Why Asian markets declined after Credit Suisse’ takeover March 20, 2023 Asian stock markets fell on Monday after Swiss authorities arranged the takeover of troubled Credit Suisse amid fears of a global banking crisis. Ahead of a Federal Reserve meeting to decide on more possible interest rate hikes, markets in Hong Kong, Tokyo and Sydney declined. While in Shanghai, stocks edged up. Oil prices also retreated. [...]
Hong Kong stock exchange operator to open London office March 2, 2023 Hong Kong Exchanges and Clearing (HKEX) confirmed today that it will open an office in London in the first half of 2023. It said the new office will expand the group’s international reach and promote greater global connectivity. HKEX chief executive Nicolas Aguzin, said: “HKEX has strong ties with the financial community in London through [...]
HSBC complicit in suppressing human rights in Hong Kong, MPs allege February 8, 2023 MPs have accused HSBC and other British banks of tacitly endorsing the suppression of human rights in Hong Kong. “British banks such as HSBC Bank Plc have been complicit in suppressing the human rights of Hongkongers, by proactively supporting the National Security Law,” the Hong Kong All-Party Parliamentary Group said in a report published today. [...]
More Covid restrictions lifted: China and Hong Kong scrap need for PCR test to travel between authorities February 3, 2023 Travel between Hong Kong and China will no longer require Covid PCR tests or be limited, authorities have announced. Hong Kong’s tourism industry has suffered since 2019 after months of political strife that at times turned into violent clashes between protesters and police, as well as harsh entry restrictions implemented during the pandemic. “From Monday, [...]
PwC steps down from auditing heavily-indebted property developer Evergrande January 17, 2023 PwC has resigned as Evergrande’s auditor following a series of disagreements with the heavily-indebted property developer over its audit of the firm’s 2021 accounts. In a filing to the Hong Kong stock exchange, Evergrande said its board had decided to replace PwC as the company’s auditor after the two parties failed to reach an agreement [...]
British barrister to represent democracy activist Jimmy Lai in Hong Kong trial November 11, 2022 A Hong Kong appeals court has upheld a decision to let British barrister Tim Owen KC represent newspaper owner Jimmy Lai in an upcoming trial of the entrepreneur over alleged breaches of the Hong Kong’s controversial national security law. Jimmy Lai is set to face trial in December over claims his publication of his pro-democracy [...]
Chapter closed: Virgin Atlantic shuts Hong Kong route after 30 years October 5, 2022 Virgin Atlantic announced today it has dropped the Heathrow to Hong Kong route after almost 30 years due to the closure of Russia’s airspace and related issues. As part of the move, the airliner also shut down its office in the city-state. The legacy carrier said on Wednesday it would not resume flights – halted [...]
Goodwin to move staff from Hong Kong to set up in shop in Singapore October 4, 2022 Goodwin Procter has become the latest law firm to set up in Singapore, after outlining plans to relocate staff from Hong Kong. The Boston founded law firm’s new Singapore offices will become its second location in Asia, after Goodwin opened its Hong Kong office in 2008. The launch is set to see two Goodwin partners, [...]