The China offshore wealth tax push is prompting wealthy mainland families to review offshore trusts and investment structures as Beijing strengthens scrutiny of overseas assets and capital flows. Rules introduced in late July impose a 20% tax on gains when shares, property or other assets are transferred into offshore trusts, while income generated by trusts is taxed annually at the same rate. Unpaid taxes relating to assets settled since January 2023 and income received befo

The HKEX multi-asset expansion strategy will broaden Hong Kong's financial market beyond equities, with the exchange also considering longer trading hours to increase its appeal to international investors. Hong Kong Exchanges and Clearing CEO Bonnie Chan said the exchange intends to sharpen its focus on fixed income, currencies, commodities and other asset classes as it develops a more diversified market ecosystem. HKEX will also continue broadening its listing pipeline beyon

New Vietnam small business tax breaks will provide lower rates and exemptions for smaller enterprises while introducing additional compliance requirements under the country's latest income tax changes. Corporate income tax rates will range from 15% to 20%, depending on company size, while businesses involved in petroleum and precious-mineral activities will face rates ranging from 25% to 50%. Businesses generating annual revenue of no more than VND1bn (USD38,000) will be exem

The Maybank tokenised supply-chain financing transaction marks Malaysia's first such deal and demonstrates how tokenisation could improve access to working capital and trade finance. Maybank provided MYR1m (USD237,000) in financing to construction and building materials supplier Syarikat Logam Unitrade through Virtual Economy Technology's NexA platform for tokenised trade receivables. Operating through the Securities Commission's regulatory sandbox, the pilot demonstrated an

The PAG Asia buyout fund is targeting about USD4bn as the investment firm tests institutional appetite for Asian private equity while reducing its historically heavy exposure to China. PAG has informed limited partners about the fundraising but has yet to finalise its target, according to people familiar with the plans. The vehicle could ultimately raise between USD4bn and USD5bn, with an initial close potentially taking place by the end of the year. PAG's previous buyout fun

New Singapore fund manager tax breaks and expanded visa support are planned as the city-state seeks to strengthen its asset management industry amid intensifying competition with Hong Kong. Singapore will introduce tax exemptions covering profits earned by fund managers from managing certain investment vehicles, including single-family-office funds. The Monetary Authority of Singapore and finance ministry are expected to provide further details in the 2027 budget. MAS also pl

Chinese firms overseas expansion plans remain strong, with more than 80% of mainland companies intending to increase their international presence and Hong Kong emerging as their preferred professional-services platform, according to a Trade Development Council survey. Among 2,015 companies surveyed, 82% planned to expand existing overseas operations and 63% intended to establish new businesses abroad. Belt and Road markets are becoming increasingly important, with 94% targeti

Malaysian business AI adoption has accelerated, with 38% of companies now regularly using at least one artificial intelligence tool, compared with 27% a year earlier, according to an Amazon Web Services-commissioned study. More than 3.4 million businesses now use AI after nearly one million adopters were added over the year. However, 67% rely primarily on basic applications such as public chatbots or off-the-shelf tools, while only 19% have formal strategies for scaling AI ac

Singapore family office onboarding could be shortened to around one month by the end of 2026 as regulators and private banks streamline checks while retaining stronger scrutiny of wealth sources. The Monetary Authority of Singapore and Private Banking Industry Group initiative follows a review that found onboarding procedures had become excessive after the city-state’s 2023 money laundering scandal. Current processing can take more than six weeks. Lawyers said the reform repr

China’s digital yuan network has expanded to 30 authorised operators after the central bank added eight financial institutions as it seeks wider adoption of the state-backed digital currency. New participants include Ping An Bank, Bank of Shanghai, Bank of Hangzhou and Bank of Changsha, according to the People’s Bank of China. The lenders will begin providing e-yuan services after completing required business and technical preparations. The expansion forms part of China’s 15t

Singapore financial sector innovation will require greater willingness to take calculated risks if the city-state is to retain its competitive edge as technology transforms global financial infrastructure, former DBS chief executive Piyush Gupta said. Speaking at the launch of his book on Singapore’s financial sector, Gupta warned that the country’s reputation for stability could encourage excessive caution. He argued that policymakers should preserve trust while remaining wi

The China economic slowdown intensified in July as industrial production, retail sales and investment all missed market expectations, increasing pressure on policymakers to support domestic demand. Industrial output rose 4.5% year on year, below economists’ 5% forecast, while retail sales growth slowed sharply to 0.6%, National Bureau of Statistics data showed. Fixed-asset investment contracted 6.7% during the first seven months of the year, worsening from a 5.7% decline in t

Hong Kong limited partnership funds have surpassed 2,000 registrations, marking a significant milestone for a regime designed to attract private equity, venture capital and other alternative investment vehicles. The government said the threshold was passed on Aug. 13, with registrations up 63% year on year at the end of July. The limited partnership fund framework was introduced in August 2020 to provide an onshore structure tailored to private funds. Hong Kong added a re-dom

The coming Asia wealth transfer is encouraging Singapore banks and wealth managers to build relationships with the children of affluent clients well before family assets change hands. DBS, UOB and OCBC now operate three- to four-day programmes covering investing, entrepreneurship, leadership and personal development for younger members of wealthy families. UOB’s sixth PriviGen programme attracted 63 participants aged between 18 and 25 from Singapore and Southeast Asia, while

Proposed Hong Kong treasury centre tax reforms are generating one to two enquiries a month as companies assess whether enhanced concessions could make the city more competitive with Singapore, according to PwC. The government consultation proposes expanding tax deductions for interest expenses to cover a broader range of corporations, bringing Hong Kong’s corporate treasury framework closer to Singapore’s arrangements. The measures form part of wider efforts to reinforce the

Japan Q2 GDP expanded more slowly than expected as weak household spending and declining business investment complicated the Bank of Japan’s assessment of when to raise interest rates. The economy grew at an annualised rate of 1.1% during the second quarter, down from 1.9% in the previous three months and below economists’ 2% forecast. Nevertheless, Japan recorded a third consecutive quarter of expansion. Capital expenditure fell 1.2% from the previous quarter, compared with

Singapore business sentiment improved during the second quarter as cost expectations eased, although companies remained cautious about expansion, recruitment and the wider economic outlook. The Singapore Business Federation’s Business Sentiment Index rose two points to 53.3 for April to June, almost reversing the previous quarter’s decline but still indicating broadly neutral conditions. Banking and insurance, health and social services were among the most optimistic sectors,

Prosper Family Office Hong Kong operations have expanded with the opening of a new Tsim Sha Tsui office as affluent families seek more integrated succession planning and governance services. The multi-family office opened the premises on Aug. 12, with around 150 representatives from banking, asset management, trust, legal and accounting firms attending the ceremony. Prosper coordinates wealth structuring, trusts, succession planning, family governance and next-generation educ

The Korea Investment Holdings KDB Life deal could give the brokerage-led financial group its first foothold in insurance after Korea Development Bank selected it as preferred bidder for a 99.75% stake in KDB Life Insurance. The transaction covers 116.32 million shares, although the purchase price has not been disclosed. Korea Investment Holdings is seeking to diversify earnings beyond securities and gain access to a more stable, long-term funding source through insurance prem

B2C2 family office expansion across Asia-Pacific is being strengthened through the appointment of former Schroders Wealth Management Asia chairman Jason Lai as senior adviser in Singapore. Lai founded wealth manager Thirdrock Group in 2009 and became chief executive of Schroders’ Asian wealth business after the FTSE 100 company acquired Thirdrock in 2019. He subsequently served as chairman before retiring in 2026. B2C2 said Lai will help deepen relationships with family offic