China is proposing significantly tougher sanctions for accounting firms involved in fraudulent corporate reporting as regulators intensify efforts to improve market integrity and investor confidence. The proposed China auditor penalties form part of a wider campaign targeting financial misconduct among listed companies and market intermediaries. Under draft amendments to the Certified Public Accountants Law, the maximum fine for issuing false audit reports would increase from

Moody’s Ratings has downgraded the Philippine banking outlook to negative from stable, citing risks from higher oil prices, inflation pressures and weaker economic momentum linked to geopolitical tensions in the Middle East. The revised Philippine banking outlook reflects concerns that banks may face slower credit growth and deteriorating asset quality over the coming year. The ratings agency said rising energy costs and inflation could weaken consumer spending, business conf

China has unveiled a comprehensive 15-point programme aimed at strengthening foreign capital inflows and improving the business environment for international investors. The China foreign investment plan includes measures to expand market access, facilitate fundraising and support foreign participation in domestic capital markets. The initiative, jointly released by the commerce ministry, state planner and finance ministry, covers sectors including finance, services, pharmaceu

Singapore accounts for the majority of Southeast Asia’s most heavily funded women co-founded companies, according to a new ranking by Tracxn. The women-led startups Singapore ecosystem represented 15 of the region’s 25 highest-funded businesses, highlighting the city-state’s strength in entrepreneurship and venture capital. Collectively, the companies have raised approximately USD16.5bn in equity funding as of May 15 across sectors including fintech, enterprise software, cons

Hong Kong Financial Secretary Paul Chan Mo-po said he remains cautiously optimistic about the city’s performance during the second half of the year, citing resilient exports, improving consumer activity and a stable asset market. The Hong Kong economic outlook has strengthened despite ongoing geopolitical uncertainty and concerns surrounding global growth. Chan said second-quarter exports have remained solid, while retail and catering sectors continue to recover. He added tha

Thailand is reviewing its investment promotion framework following the introduction of a top-up tax designed to comply with OECD global minimum tax rules. The Thailand global minimum tax regime allows authorities to collect additional taxes from large multinational companies whose effective tax rates fall below the international minimum threshold of 15%. Finance Ministry officials are meeting with government agencies and the Board of Investment to assess how existing incentiv

Deloitte has maintained its Hong Kong IPO forecast for 2026, projecting 160 new listings that could collectively raise HKD300bn (USD38.2bn) and potentially place the city among the world’s three largest IPO markets by fundraising proceeds. The firm expects at least five major listings to raise HKD10bn or more across sectors including hard technology, semiconductors, healthcare, telecommunications, chemicals and consumer products. According to the Hong Kong IPO forecast, appro

AmCham Taiwan has renewed calls for a long-awaited Taiwan US tax deal, arguing that progress on the issue could significantly increase investment and trade between the two economies. The proposal gained fresh attention following the conclusion of a post-tariff trade arrangement between Taipei and Washington earlier this year. AmCham Taiwan president Carl Wegner said the Taiwan US tax deal would be a key topic during meetings with US officials in Washington. Taiwan has long so

Thailand is continuing efforts to establish itself as a regional financial centre, with officials reviewing draft legislation designed to attract investment and streamline regulation. The Thailand financial hub initiative remains a government priority despite delays in advancing the proposed Financial Hub Act through parliament. Fiscal Policy Office director-general Vinit Visessuvanapoom said authorities are reassessing the draft law and identifying measures that can be imple

Hong Kong’s rise to second place in the 2026 World Competitiveness Yearbook underscores the strength of its business environment and reinforces its position as a leading international financial and trading centre, according to the Hong Kong Trade Development Council. The Hong Kong competitiveness ranking reflects continued improvements across key areas that support the city’s role as a gateway between mainland China and global markets. The city ranked first globally for tax p

China has unveiled new measures to accelerate yuan internationalisation while maintaining vigilance against financial risks, signalling a continued commitment to opening its financial markets. Speaking at the Lujiazui Forum in Shanghai, People’s Bank of China Governor Pan Gongsheng outlined a series of initiatives aimed at strengthening offshore yuan usage and liquidity management. A key element of the yuan internationalisation strategy is the authorisation of six major state

Vietnam has introduced a stricter framework governing private corporate bond offerings and overseas bond issuance by domestic companies, strengthening oversight of how proceeds are used and improving issuer accountability. The Vietnam corporate bond rules came into force on June 5 under Decree No. 200/2026/ND-CP. Under the Vietnam corporate bond rules, proceeds may only be used for disclosed purposes, including investment projects, restructuring the issuer’s own liabilities a

Indonesia could attract as much as USD500bn in assets by establishing a competitive family office ecosystem, according to National Economic Council chairman Luhut Binsar Pandjaitan. The Indonesia family office market initiative forms part of wider efforts to position the country as a major wealth-management destination within Southeast Asia. Speaking ahead of an international investment forum in Bali, Luhut said the Indonesia family office market could generate substantial ca

Hong Kong and Cyprus have signed a comprehensive avoidance of double taxation agreement aimed at strengthening bilateral trade, investment and cross-border business activity. The Hong Kong Cyprus tax agreement is the city’s 58th such treaty and its third concluded this year. Financial Services and Treasury Secretary Christopher Hui said the Hong Kong Cyprus tax agreement will clarify taxing rights between the two jurisdictions and help investors avoid double taxation. Hong Ko

Danantara Investment Management, a subsidiary of Indonesia’s sovereign wealth fund Danantara, has raised USD1.5bn through its first US dollar-denominated bond issuance, attracting strong investor demand despite concerns surrounding Indonesia’s markets and economic outlook. The Danantara bond sale comprised USD750m of five-year bonds and USD750m of 10-year bonds. According to Reuters, orders peaked at approximately USD4.6bn, allowing final yields to be reduced by 35 basis poin

Hong Kong’s Office for Attracting Strategic Enterprises has secured commitments from 124 companies across six batches, with total planned investment reaching HKD73bn (USD9.3bn) and the potential creation of 25,000 jobs. The Hong Kong strategic enterprises programme has become a key pillar of the city’s efforts to attract high-value industries, technology firms and innovation-driven businesses. Bryan Peng, executive director of OASES, said the first five batches had already ex

China’s Ministry of Finance plans to raise RMB15bn (USD2.2bn) through a sovereign bond sale in Hong Kong, marking its third offshore yuan issuance in the city this year. The China sovereign bonds Hong Kong offering reflects growing international demand for yuan-denominated assets and continued support for Hong Kong’s offshore renminbi market. The bonds will be issued through public tender on June 16 via the Hong Kong Monetary Authority’s Central Moneymarkets Unit and will inc

ASEAN should focus on building a fully integrated regional financial-technology network rather than simply connecting individual markets if it wants to become a leading digital-finance hub, according to Vietnamese Deputy Prime Minister Nguyen Van Thang. Speaking at the ASEAN Future Forum 2026, he said an ASEAN fintech ecosystem would be critical to supporting economic growth, innovation and financial inclusion. Thang called for closer collaboration among governments, regulato

Singapore’s economy remains strong following better-than-expected first-quarter growth, but policymakers must prepare for increasing uncertainty arising from geopolitical tensions, inflation pressures and artificial intelligence-related disruption, Prime Minister Lawrence Wong said. The Singapore economic resilience message came during a Singapore Press Club dialogue. Wong noted that the economy expanded 6% year on year in the first quarter, significantly exceeding the earlie

South Korea and ASEAN will begin formal negotiations this week to modernise their trade agreement and deepen cooperation in emerging sectors. The South Korea ASEAN FTA upgrade discussions will cover areas including the digital economy, critical minerals, supply-chain resilience and future trade facilitation. The first round of negotiations will be led by Park Geun-oh of South Korea’s Ministry of Trade, Industry and Resources and Alpana Roy, ASEAN’s director general for intern