Hong Kong plans to launch a new gold-clearing system by July, moving ahead of Singapore in the race to become Asia’s leading bullion trading hub. The Hong Kong gold clearing initiative is expected to improve liquidity and strengthen the city’s role in regional gold pricing, supported by large bullion flows linked to mainland China, the world’s largest gold consumer. Hong Kong is also expanding its bullion infrastructure. SF Holding plans to develop a vault near the airport, w

Hong Kong banks are tightening scrutiny of mainland Chinese clients opening savings and investment accounts as Beijing intensifies efforts to curb illegal cross-border trading and capital outflows. The Hong Kong mainland client checks have expanded across several major lenders in the city, according to people familiar with the matter. Some large Chinese banks in Hong Kong have reportedly suspended the opening of investment and wealth-management accounts for mainland residents

Vietnam’s central bank will simplify 11 administrative procedures covering foreign exchange management from July 25, 2026, under a new circular aimed at improving efficiency and decentralising approvals. The Vietnam foreign exchange procedures reforms cover foreign borrowing, overseas lending, international bond issuance, indirect investment and foreign currency accounts held abroad. Circular No. 17/2026/TT-NHNN amends and supplements five legal documents and requires the Sta

Singapore aims to reduce private bank account opening times for wealthy clients to within one month by the end of 2026 as authorities seek to strengthen the city-state’s position as a trusted global wealth management hub. The Singapore private bank onboarding initiative is being led by the Monetary Authority of Singapore together with the Private Banking Industry Group. MAS managing director Chia Der Jiun said onboarding currently takes around six weeks or longer for more com

Hong Kong has approved 36 company re-domiciliation applications since launching the regime nearly a year ago, according to the Financial Services and the Treasury Bureau. The Hong Kong re-domiciliation regime was introduced to attract overseas-incorporated companies seeking to relocate their legal domicile to the city while maintaining operational continuity. Authorities said another 21 applications are currently being processed by the Companies Registry. The approved compani

Financial institutions across Asia Pacific accounted for 52% of global Layer 7 DDoS incidents targeting financial services in 2025, making the region the leading target for application-layer attacks for a fourth consecutive year, according to Akamai Technologies. The APAC cyber attacks finance report highlighted growing vulnerabilities as banks, fintech companies and payment providers expand digital banking and API-driven services. Within Asia Pacific, banks represented 44% o

Family-owned businesses frequently underperform for years after leadership changes, according to new McKinsey research covering more than 200 companies across 50 countries. The family business succession study found average shareholder returns fell by 5.7 percentage points during the five years following a CEO transition. McKinsey said the decline occurred regardless of whether the successor was a family member or an external executive, suggesting that family business success

Morgan Stanley has instructed its Hong Kong-based bankers to carry separate iPhones and iPads for business trips to mainland China as global financial institutions strengthen controls over cross-border data security. The Morgan Stanley China travel policy was introduced in recent months and applies specifically to travel involving mainland China, according to reports citing a source familiar with the matter. The Wall Street bank declined to comment publicly on the policy. The

Vietnam’s Ministry of Finance has proposed updated regulations for electronic stock market transactions as authorities seek to modernise the framework governing online securities trading. The Vietnam online securities trading reforms would replace rules introduced in 2017 and later amended in 2020. The draft circular introduces provisions covering electronic know-your-customer verification, electronic contracts, transaction authentication and API-based connectivity between se

DBS Group Research said global financial centres in the artificial intelligence era will increasingly be judged by whether AI-driven financial decisions can be trusted across borders rather than simply by technology capability or capital-market size. The Singapore AI finance hub assessment came in a DBS report titled The Trusted AI Financial Hub, which introduced a Global AI Financial Hub Index covering 15 financial centres across AI integration, governance, digital infrastru

Malaysia’s Securities Commission has tightened rules for digital asset exchanges as regulators seek to speed up product approvals while strengthening investor protection, governance and operational resilience standards. The Malaysia digital asset exchanges reforms took effect on May 20 under revised Guidelines on Recognized Markets. The updated framework introduces stronger safeguards for client assets together with higher standards covering financial stability, ownership str

Hong Kong plans to launch a government-owned gold-clearing system by July as the city seeks to strengthen its role as a global bullion trading hub and diversify financial market infrastructure. The Hong Kong gold clearing system will reportedly mirror London’s bullion-market model by allowing settlement through unallocated accounts, enabling faster and more scalable trading without assigning specific numbered bars. People familiar with the matter said trial operations are exp

The World Bank said the Philippines must improve conditions for businesses to invest, expand and innovate if it wants to become ASEAN’s next growth engine, warning that weak investment could constrain productivity and job creation. The Philippines investment climate remains challenged by delays in permits, port congestion, complex paperwork and inefficient border procedures, according to World Bank country director Zafer Mustafaoğlu. He noted that business registration in the

China and the United States have agreed to establish trade and investment councils as both countries seek to stabilise economic ties following last year’s tariff war, according to China’s commerce ministry. The China US trade councils agreement will include discussions covering reciprocal tariff reductions on selected products and wider trade cooperation. Beijing said the two sides made progress on agricultural trade and aircraft purchases, including reductions in non-tariff

Hong Kong’s economy remains resilient, supported by technology-related exports, improving private demand and stronger financial market activity, the International Monetary Fund said following its latest Article IV mission. The IMF Hong Kong assessment reaffirmed the city’s position as an international financial centre, a “super-connector”, a major fundraising hub and the world’s leading offshore renminbi centre. The IMF said financial sector risks remain manageable because of

Thailand plans to overhaul more than 7,000 business regulations as Prime Minister Anutin Charnvirakul’s government seeks to reduce bureaucracy and attract more foreign and domestic investment. The Thailand business reform programme aims to improve the country’s competitiveness as regional rivals including Vietnam and Indonesia intensify efforts to attract global capital and supply-chain relocations. Authorities are proposing a “super licence” system designed to consolidate mu

Macau has issued its first fund investment licence under its new Investment Fund Law to HOPU Investments, allowing the Beijing-based alternative investment firm to establish an asset management unit in the city. The Macau fund licence approval comes nearly five months after the law took effect on Jan. 1, introducing a new framework for private funds and structures including collective investment companies and limited partnership funds. Before the legislation, asset management

Bhutan and Singapore have signed a double tax avoidance agreement aimed at strengthening investment, trade and economic cooperation while supporting Bhutan’s ambitions to develop Gelephu Mindfulness City into a regional business and family office hub. The Bhutan Singapore tax pact was signed in Singapore by Bhutan Finance Minister Lekey Dorji and Singapore official Jeffrey Siow. The agreement is Bhutan’s third bilateral tax treaty and is expected to clarify taxing rights on c

Hong Kong ranked among the world’s least complex jurisdictions for doing business, according to TMF Group’s latest Global Business Complexity Index, reinforcing the city’s appeal for multinational companies, investors and family offices seeking efficient regional operating hubs. The Hong Kong business environment ranked 78th out of 81 jurisdictions assessed in the report, placing it among the bottom 10 for business complexity alongside New Zealand, Denmark, Jersey and the Cay

Singapore will reappoint Deputy Prime Minister Gan Kim Yong as chairman of the Monetary Authority of Singapore for another three-year term from June 1, reinforcing continuity at the city-state’s central bank and financial regulator. The MAS chairman reappointment announcement also confirmed that managing director Chia Der Jiun will continue as a board member for a further two years. Attorney-General Lucien Wong will also serve another three-year term, while Chaly Mah, chairma