Paul Chan Hong Kong US visit underscored the city’s open-market advantages as the Financial Secretary called on American companies to expand their presence despite persistent US-China trade tensions. Speaking at the annual gala of the National Committee on US-China Relations in New York, Chan met former US trade envoy Charlene Barshefsky to discuss deepening economic and financial ties. He reaffirmed Hong Kong’s commitment to its free-port status, rule-of-law framework, and r

HSBC Holdings has offered to purchase the remaining 37% of Hang Seng Bank that it does not already own for about USD37bn, reinforcing its long-term commitment to Hong Kong. The proposed cash offer of HKD155 (USD19.8) per share represents a 30% premium over Hang Seng’s previous closing price, the London-based lender said on Thursday. If approved, the transaction would see Hang Seng’s publicly traded shares cancelled, taking the bank private. HSBC, which currently holds a 63% s