Hong Kong family offices are central to the city’s ambition to strengthen its global financial hub status, Financial Secretary Paul Chan said. He outlined plans for Hong Kong to become at least the world’s second-largest international financial centre within 10 to 15 years. The expansion of Hong Kong family offices is expected to support diversification beyond equities into fixed income, currencies, green finance and sustainable investments. Chan also highlighted rising mainl

The Hong Kong IPO market is showing renewed momentum as more than 10 international firms prepare to list, according to HKEX Chief Executive Bonnie Chan. IPO activity has reached 40% of last year’s total, with a record pipeline of listings. The rebound in the Hong Kong IPO market highlights the city’s role as a capital-raising hub, particularly for Southeast Asian firms, which have raised over USD4.3bn. Chan said HKEX would take a cautious approach to extending trading hours,

Labuan family office hub ambitions are gaining traction as rising wealth across Asia drives demand for structured solutions in investment, governance and succession planning. The Malaysian offshore financial centre is promoting its legal and regulatory framework as a flexible platform for wealth management vehicles, including trusts and foundations for asset protection and intergenerational transfer. Its proximity to key Asian markets and Malaysia’s relatively stable economy

Singapore GDP growth 2025 slowed to 4.6% year-on-year in the first quarter, missing forecasts and easing from 5.7% in the previous quarter as manufacturing momentum weakened, according to advance estimates. On a seasonally adjusted quarterly basis, the economy contracted 0.3%, reversing growth of 1.3% previously. The Ministry of Trade and Industry said manufacturing expanded 5.0% year-on-year, down sharply from 11.4% in the fourth quarter, while construction growth accelerate

China ChiNext reforms will allow pre-profit technology companies to list on Shenzhen’s startup board, as regulators move to support innovation and strengthen domestic capital markets. The China Securities Regulatory Commission said firms in emerging industries with a market value of at least RMB3bn (USD439m) and revenue of no less than RMB200m in the latest financial year can apply for initial public offerings. Authorities will also introduce market makers to improve liquidit

Philippines disclosure rules are under pressure to tighten after a corruption scandal linked to flood-control projects unsettled global bond investors, according to market sources. Asset managers including BNP Paribas Asset Management and Robeco have called for stricter reporting requirements for state-backed infrastructure projects. A group of 11 investors sent a letter to regulators in late March urging greater transparency on the use of proceeds from sustainable debt. Nati

Zhongzhi liquidation marks a major step in China’s efforts to address systemic financial risks, after a Beijing court ordered the winding up of Zhongzhi Enterprise Group and more than 300 affiliated entities. The Beijing No. 1 Intermediate People’s Court accepted the case on April 10 and set a June 10 deadline for creditors to submit claims. Zhongzhi filed for bankruptcy in 2024 after defaulting on multiple investment products and later revealing severe insolvency. The case h

Japan corporate bankruptcies rose for a fourth straight year in fiscal 2025 and could climb further from around this summer as the Middle East conflict drives up oil prices and squeezes company profits, research firm Teikoku Databank said. Japan corporate bankruptcies totalled 10,425 in the year ended March, up 3.5% from a year earlier and above 10,000 for a second straight year, as firms grappled with higher input costs and labour shortages. A government survey also showed b

Emerging markets financing IMF analysis shows economies now rely heavily on foreign funding from portfolio investors such as hedge funds, pension funds, and insurers, leaving them more exposed to sudden capital flight during crises, the International Monetary Fund said in its latest Global Financial Stability Report. The emerging markets financing IMF data show portfolio investors now account for 80% of debt inflows into emerging markets, double the share 20 years ago, with c

East Asia growth outlook World Bank projections show regional growth slowing to 4.2% in 2026 from 5% in 2025 as Middle East conflict, higher energy prices and trade disruption weigh on the region. Growth is expected to edge up to 4.4% in 2027. China’s economy is forecast to expand 4.2% in 2026 and 4.3% in 2027. The World Bank said weak domestic demand, China’s property downturn and softer exports remain key drags. The East Asia growth outlook World Bank also highlights that n

ASEAN financial cooperation 2026 discussions are advancing as finance ministers and central bank governors explore ways to strengthen regional resilience at the 13th ASEAN Finance Ministers and Central Bank Governors’ Meeting. Talks cover infrastructure finance, taxation, customs integration and climate finance, alongside progress on the ASEAN Single Window and Customs Transit System. Philippine Deputy Finance Minister Joven Balbosa said ASEAN financial cooperation 2026 must

Thailand CEO confidence PwC survey findings show sentiment has fallen to its weakest level in three years, with only 24% of chief executives expressing strong confidence in revenue growth this year, down from 47% in 2023. PwC Thailand said business confidence was weighed down by economic uncertainty, geopolitical tensions, rising costs, cyber risks and rapid technological change. Only 34% of Thai CEOs expect the domestic economy to improve this year, below the 55% global aver

Danantara asset manager acquisition plans are moving ahead as Indonesia’s sovereign wealth fund agreed to buy controlling stakes in four affiliated fund managers for about IDR2.7tr(USD159m). Through PT Danantara Asset Management, the fund signed deals on April 1 to acquire BRI Manajemen Investasi, Mandiri Manajemen Investasi, BNI Asset Management and PNM Investment Management, according to stock exchange disclosures. The transactions would give Danantara majority or near-full

Indonesia QRIS payment network has officially expanded to South Korea after Bank Indonesia and the Bank of Korea launched a cross-border QRIS payment link under a local currency settlement framework. The linkage allows users to make retail payments directly between the rupiah and South Korean won, reducing reliance on the US dollar. Bank Indonesia said inbound QRIS transactions had reached 5.9 million and outbound transactions 1.7 million as of early April. Officials said the

Vietnam growth outlook remains the strongest in the ASEAN+3 region, with the ASEAN+3 Macroeconomic Research Office forecasting GDP growth of 7.4% in 2026 and 7.1% in 2027, after an estimated 8% in 2025. Inflation is projected at 3.8% in 2026 and 3.4% in 2027. AMRO said the Vietnam growth outlook is underpinned by strong domestic demand, stable inflation, robust exports, solid foreign investment inflows and strength in high-tech manufacturing and electronics. Across ASEAN+3, g

Digital yuan programme China expansion accelerated after the People’s Bank of China added 12 new banks to the roster of institutions authorised to handle the state-backed currency, taking the total number of operators to 22. Newly approved banks include China CITIC Bank, China Everbright Bank, China Guangfa Bank and Shanghai Pudong Development Bank. The central bank said the move is intended to improve the inclusiveness of digital yuan services and meet demand for safer and m

Thailand cost of living policy is leaning on its biggest family-controlled conglomerates to help curb living costs, with retailers tied to the Chearavanont, Chirathivat and Charoen Sirivadhanabhakdi families agreeing to sell house-brand food, toiletries and other essentials at discounts of 25% to 50% under a government-backed Thais Helping Thais campaign. Prime Minister Anutin Charnvirakul launched the programme as his new administration seeks to shield households from risin

APAC digital wallets payments remain dominant globally, with digital wallets accounting for 77% of online spend worth USD2.7tr and 63% of in-person transactions worth USD6.3tr in 2025, according to a report by Global Payments. Adoption is broad-based, led by India and South Korea, while Southeast Asia is seeing rapid growth in account-to-account payments supported by national systems such as PromptPay and PayNow. Thailand has emerged as a leading A2A market, while Singapore r

Hong Kong fiscal surplus reached HKD62.6bn(USD8.0bn) in the first 11 months of its 2025/26 financial year, helped by bond issuance, government data showed, keeping the city on track for its first full-year surplus since 2021/22. Expenditure for April 2025 to February 2026 totalled HKD691.5bn, while revenue reached HKD654.8bn, according to the Information Services Department. After accounting for HKD148.9bn raised from government bonds and HKD49.6bn in bond repayments, fiscal

China VC fundraising is on track for a record first quarter as Beijing channels more state-backed money into technology sectors such as AI, robotics and quantum computing. Newly committed capital to venture funds reached RMB86bn(USD12.5bn) in January and February alone, already above the previous quarterly high of RMB68.9bn set in Q3 2021, according to data from the Asset Management Association of China cited by Reuters. Nearly all of the biggest backers of new yuan-denominat