China financial regulator Li Yunze has been demoted over a suspected disciplinary violation, Reuters reported, citing people familiar with the matter, in the latest sign of Beijing’s widening crackdown on the financial sector. Li, 55, headed the National Financial Regulatory Administration, which oversees banks, insurers and trust firms across China’s USD79tr financial industry. Reuters said his name and photo were removed from the regulator’s leadership page. Li was appointe

Vietnam forex rules are set for overhaul as the central bank proposes easing procedures for foreign investors while strengthening oversight of capital flows. The draft circular would allow eligible investors to open investment capital accounts before receiving registration approval, although usage would initially be limited. Investors may also open multiple foreign-currency accounts for different currencies. The revised Vietnam forex rules aim to align with recent legal chang

Hong Kong IPO market activity remains strong, with listings raising more than HKD140bn (USD18bn) so far this year, maintaining the city’s position as the world’s top fundraising venue. Financial Secretary Paul Chan said average daily turnover has exceeded HKD280bn since last month, reflecting renewed market momentum after volumes reached a four-year high in 2025. The rebound in the Hong Kong IPO market is boosting investment banks and intensifying competition for dealmakers,

China offshore financing conditions are tightening as regulators lengthen approval timelines for bonds and loan quotas with maturities of one year or more. Reviews now take four to six months, with some extending up to nine months, as authorities increase scrutiny on repayment plans and use of proceeds. The shift comes as companies face around USD100bn in offshore bond maturities this year. To avoid delays, some firms are turning to shorter-term issuance below 12 months, whic

Malaysia capital market growth reached 2.4% in 2025, bringing total size to MYR4.3tr (USD1.09tr), supported by stronger corporate bond issuance and rising assets in the fund management sector, according to the Securities Commission Malaysia. Corporate bond issuance increased to 26 deals worth MYR64.33bn, up from 23 issues valued at MYR48.8bn in 2024, while assets under management rose 6.9% to MYR1.14tr. The Malaysia capital market remained resilient despite global volatility,

Asia investment flows are strengthening as global investors increasingly turn to the region amid geopolitical uncertainty, according to Hong Kong Exchanges and Clearing. Chief Executive Bonnie Chan said global investment in Asia doubled to around USD6tr between 2014 and 2024, underscoring the region’s growing importance in global portfolios. She added that Asia’s capital markets have expanded fourfold since 2000 to exceed USD34tr by the end of 2024. The rise in Asia investmen

Singapore business impact is deepening as two-thirds of companies report moderate to severe disruption from the Iran war, according to a survey by the Singapore Business Federation. In a poll of 254 firms, 66% identified rising energy prices as the most significant pressure, followed by higher shipping and logistics costs, as well as weakening customer demand. The Singapore business impact is particularly acute among smaller firms, with one in three SMEs reporting significant

Hong Kong safe haven appeal is strengthening as international investors seek stability amid geopolitical tensions, according to the Financial Services Development Council. Chairman Benjamin Hung said investors are increasingly exploring office openings, capital allocation and investment opportunities in the city. The Hong Kong safe haven trend is reflected in IPO activity, where major cornerstone investors last year were largely from Western countries, indicating capital real

Hang Seng options are set for expansion as Hong Kong Exchanges and Clearing plans to introduce contracts that expire within a day by the first quarter of 2027. The products, known as zero-days-to-expiry or 0DTE contracts, allow traders to take short-term positions on intraday market movements, volatility and economic data. HKEX declined to comment on the plans. The Hang Seng options initiative follows the exchange’s expansion of weekly options in 2024 and reflects efforts to

Vietnam tax reform proposals aim to introduce more flexible thresholds for household businesses and small firms as the government seeks to support growth amid economic pressures. The finance ministry proposed removing the fixed annual revenue threshold of 500m dong (USD19,600) for household businesses and allowing it to be adjusted based on economic conditions. It also suggested introducing, for the first time, a tax-free revenue threshold for small companies. Officials said

China GDP growth reached 5% year-on-year in the first quarter, surpassing forecasts and signalling resilience despite rising geopolitical risks. The expansion exceeded the 4.8% estimate and improved from 4.5% in the previous quarter. On a quarterly basis, China GDP growth stood at 1.3%, slightly above the prior quarter’s 1.2%. However, escalating risks linked to the Iran conflict threaten the outlook, particularly through rising oil prices that could disrupt trade, increase p

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