HONG KONG Asia's internet firms are challenging the region's traditional banks for consumer finances, tapping their massive user networks for business and following a trail blazed in China by tech giants Alibaba and Tencent. | Video
HONG KONG Foreign insurers including Generali and Prudential Plc are in early talks with authorities to enter China's private pensions sector, people with knowledge of the matter said, as Beijing opens up to overseas companies.
SHANGHAI/HONG KONG JP Morgan and Nomura have won Chinese regulatory approval to set up majority-owned brokerage joint ventures, in China's latest move to open its financial sector up to foreign firms.
HONG KONG Hong Kong has issued online-only banking licenses to three groups, including joint ventures (JVs) of Standard Chartered and BOC Hong Kong, in what could be the biggest shake-up in years in the city's retail banking sector dominated by old-guard lenders.
HONG KONG Fears over a slowdown in Chinese economic growth and the impact of the Sino-United States trade tensions are "receding a bit", the chief executive of London-based bank Standard Chartered, which makes the bulk of its revenue in Asia, said.
HONG KONG Standard Chartered PLC has seen the departure of at least four senior Asia-based bankers from its private banking unit in recent months, three people with direct knowledge of the matter said, amid growing earnings pressure at the business.
HONG KONG China's efforts to tighten oversight of its $20 trillion-plus wealth management industry are spurring foreign banks to speed up plans to enter the local market or expand there, six people involved in the discussions said.