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Markets

Hong Kong banks sweeten mortgage rebates as competition heats up amid property rebound

Mortgage battle intensifies as lenders raise cash rebates to lure buyers amid Fed rate uncertainty “We are not surprised to see banks offering higher mortgage rebates,” said Kathy Chan, an equity analyst at Morningstar. “Residential mortgages remain a key component of personal lending portfolios for Hong Kong banks and are generally viewed as high-quality, collateralised assets with relatively low credit risk.” Daniel Wong, 26, who recently got married, began searching for a home about six months ago to better understand prices before making a purchase with his wife.

July 13, 2026

Markets

Reaching for the Stars – An Iconic Art Installation Showcased at Cheung Kong Center II

[The content of this article has been produced by our advertising partner.] Primarily based in Denver, Colorado, Griggs is renowned for designing site-integrated installations, with major projects in Toronto, Chicago, Dallas, Las Vegas, Washington, D.C., and a renovation effort that refurbished Hope, the birthplace of President Bill Clinton. His work engages viewers through visual intimacy and physical interactivity, while resonating with the character of the site. The suspended installation offers a striking visual counterpoint to the architecture of CKCII, notes Griggs. The Glass Box Lobby of the building creates an arresting contrast with the curvilinear form of the art piece, and the natural light provides a perfect backdrop for the bright colours of the installation. The duality of shape and shade draws visitors’ attention to the enormous volume of the space and the breathtaking view of Victoria Harbour from CKCII’s impressive windows. CKCII occupies a prime location in the very heart of downtown Central, boasting a magnificent 270-degree view of Victoria Harbour. With its excellent connectivity and exclusive tenant privileges, it is the place to be for enterprises looking to reach greater heights.

July 13, 2026

Markets

Futu expects mainland brokerage business to shrink but vows to keep Hong Kong outlets

The company says it sees the CSRC’s crackdown as a ‘industry-wide issue’ rather than a penalty targeting Futu alone Mainland Chinese-funded accounts had dropped to 13 per cent of its total and their combined size was 17 per cent of total client assets at the end of March 2026, the broker said in a briefing in Hong Kong on Monday, without providing comparison figures. “It will definitely see a gradual decrease. Our principle is to handle it as quickly as possible,” said Futu Securities managing director Daniel Tse. “We must resolve compliance issues with a ‘client-first’ approach.” While declining to disclose its mainland-funded accounts ratio after the penalty was imposed, Tse said the company would “process the rectification as fast as possible,” emphasising that “compliance is Futu’s core strength.” The brokerage has been ordered by the China Securities Regulatory Commission (CSRC) to complete “rectification” within two years and fully cease the illegal provision of trading services on the mainland.

July 13, 2026

Markets

China’s Midea dispatches 20,000 air conditioners in race to cool heat-stricken France

Europe’s lethal heatwave drives China’s appliance giant to sprint production and slash delivery times To speed up output, Midea doubled capacity to 6,000 portable air conditioners per day by opening a new production line on July 7, completing manufacturing of all 20,000 units in just three and a half days, the Foshan, Guangdong-based firm said in a statement on Monday. The company added it prioritised the French order with manpower and production capacity, even as its factories ran at full tilt to meet domestic demand. Portable air conditioners by Midea, the world’s largest home appliance maker, have been in high demand as Europe grapples with record-breaking heat linked to more than 10,000 deaths in June. Management instructed supply chain and production teams to “spare no expense to ensure timely delivery”, including costly air and high-speed rail transport for components in short supply, according to a factory manager at Midea’s portable air-conditioner factory in Wuhu, in China’s central province of Anhui.

July 13, 2026

Markets

Chairman of global tech brand TCL sees digital future in ‘Screen Universe’

Li Dongsheng reveals how creation of innovative platforms can connect people, content and services worldwide on sidelines of ‘Summer Davos’ Li Dongsheng, founder and chairman of TCL – a global technology brand serving users across more than 160 countries and regions – was among the speakers at the World Economic Forum’s Annual Meeting of the New Champions last month. Under the theme, “Innovating at Scale”, the forum, also known as “Summer Davos”, saw more than 1,800 government leaders, senior business executives and innovators from 90 countries and regions discuss how technology and new ideas and practices can translate into economic progress and jobs. Li took part in the “Reconfiguring Supply Chains” global live-stream round-table discussion at the event, which serves as a platform for entrepreneurship, innovation and next-generation growth, at Dalian, in northeastern China. While on the sidelines of the forum, Li outlined his company’s concept for the future of digital life, called the “Screen Universe”, in an exclusive interview with the South China Morning Post.

July 13, 2026

Markets

The new space race: how China plans to break SpaceX’s launch monopoly with IPO push

As Beijing makes history by capturing the Long March-10B booster at sea, at least 15 aerospace firms are racing to go public on Shanghai’s Star Market or in Hong Kong Meanwhile, LandSpace Technology – widely regarded as a challenger to SpaceX – had its initial public offering review status restored to “Inquired” in late June after submitting updated financial materials. It was suspended in late March because of expired financial data, while the company now seeks to raise 7.5 billion yuan (US$1.1 billion) At the end of June, LandSpace officially announced that its Zhuque-3 reusable test rocket had completed a static fire test, where the engine’s performance is tested at full power without launching. Both LandSpace and CAS Space plan to channel their IPO proceeds directly into reusable rocket projects. These developments come amid a major technical breakthrough in the domestic sector. On July 10, China successfully recovered the Long March-10B carrier rocket – developed by the state-owned China Aerospace Science and Technology Corporation (CASC) – at sea via a recovery platform.

July 13, 2026

Markets

What Labubu fatigue? Billionaire investor doubles down on Pop Mart stake

China’s answer to Warren Buffett now owns a 7.65 per cent stake in the toy brand, despite a lukewarm reception for the new Labubu Hair Salon series Duan, 65, dubbed “China’s Warren Buffett” by some investors for his investment acumen, increased his stake in the Hong Kong-listed Pop Mart on July 6 through his wholly owned company H&H International Investment. A Hong Kong Exchanges and Clearing filing released on Friday showed his stake rose from 6.85 per cent to 7.65 per cent, equivalent to 102 million shares. Institutions hold divergent outlooks on Pop Mart’s growth prospects.

July 13, 2026

Markets

Why Forthright Securities is Anchoring Its Next-Gen AI Hub in the Heart of Hong Kong

[The content of this article has been produced by our advertising partner.] As Hong Kong’s financial landscape matures and the line between virtual platforms and traditional wealth management blurs, digital-native brokerages opening physical branches has, almost paradoxically, become a mainstream strategic imperative. The latest firm to take this step is Forthright Securities, a subsidiary of JF SmartInvest Holdings Ltd (9636.HK). On 10 July, it is set to open what will be Hong Kong’s largest offline investment experience hub to date at Golden Centre in Sheung Wan while debuting its Forthright AI Investment Terminal. The Catalyst: Tangible Market Growth and Evolving Expectations This is a calculated expansion, and the numbers behind it explain why. According to the Securities and Futures Commission, Hong Kong delivered a standout year as a leading global wealth hub in 2025, with total assets under management (AUM) surged 20 per cent year-on-year to a record HK$42.2 trillion (US$‬‬‬5.4 trillion), while the private wealth management sector climbed 24 per cent to HK$12.9 trillion.‬‬‬‬‬‬‬‬‬‬‬‬‬ With wealth in the city reaching record highs, individual investors are expecting a lot more than standard mobile trading apps.

July 13, 2026

Markets

Xpeng, armed with road-tested tech, ready to take on Tesla overseas: executive

The Guangzhou-based company will expand its self-driving technology to international markets, challenging its US rival in Europe “We are very confident that we can be head-to-head competitors with Tesla,” said Brian Gu Hongdi, vice-chairman and president at Xpeng, in an interview with the South China Morning Post. Though admitting the US carmaker’s edge as an early entrant in some European markets, Gu noted that Xpeng could be supported by the leadership of China’s automobile industry. “The Chinese market is probably the most competitive and most innovative autonomous driving market in the world,” Gu said. “The confidence comes from the fact that we are trained in the most (intense) fit gym in the world.” Xpeng unveiled its Mona L03 model in Hong Kong on Friday, one week after its debut in mainland China. The compact sport-utility vehicle is scheduled to launch in Munich on Thursday.

July 13, 2026

Markets

AIA Alta’s Optimal Longevity Index shows health and wealth go hand in hand

Chief proposition and healthcare officer Alice Liang says high-net-worth families need to integrate healthcare into their succession plans Hong Kong’s 2024 census reveals a staggering life expectancy of 82.7 years for men and 88.2 years for women – figures that consistently rank amongst the world’s highest. However, while people in Hong Kong may be champions in longer lifespans, the inaugural AIA Alta High-Net-Worth Optimal Longevity Index – that was developed by Boston Consulting Group – suggests the city’s high-net-worth (HNW) and ultra high-net-worth (UHNW) families are surprisingly under-equipped to face the challenges of ageing. This new report looks at the readiness levels of HNW and UHNW individuals in Hong Kong and mainland China in their wealth and health plans, given that average life expectancy has increased. While longevity is often defined as living longer, the report suggests that for HNW and UHNW families, it should mean more than simply an extended lifespan. Instead, it calls for a shift in focus towards “longevity readiness”, where health and finance plans are integrated to account for a longer life journey.

July 13, 2026

Markets

Chinese hard tech giants see value surge in first half as global investors pour in capital

Under the mainland-Hong Kong Connect programme, northbound holdings rise to record high of 3.13 trillion yuan by end of June Overseas capital has poured into China’s hard technology champions at an unprecedented pace, driving the market value of their mainland equity holdings to an all-time high by the end of the second quarter. Despite the long-term influx of foreign capital into the tech sector, Chinese equity markets faced a brutal sell-off on Monday, driven by a broader global tech slump and external geopolitical shocks. A spike in global oil prices revived fears of sticky inflation and sustained high interest rates, triggering a broad retreat from risk assets. On the mainland, the Shanghai Stock Exchange’s Star 50 Index, which tracks the exchange’s technology board, tumbled 3.42 per cent to close at 1,994.32, breaching the psychological 2,000-point threshold, while the ChiNext 50 gauge of Shenzhen-listed start-ups fell around 3 per cent. The broader CSI 300 Index also suffered, shedding 1.79 per cent. In Hong Kong, the benchmark Hang Seng Index edged up 0.16 per cent, largely supported by energy stocks tracking firmer crude prices. However, the Hang Seng Tech Index fell by roughly 1 per cent.

July 13, 2026

Markets

Meet CXMT’s Zhu Yiming: the engineer building China’s answer to global memory-chip giants

From a Silicon Valley garage to China’s largest DRAM maker and a US$4.4 billion IPO, Zhu reportedly refused pay until CXMT became profitable The Shanghai offering, set to start taking subscriptions on Thursday, aims to raise 29.5 billion yuan (US$4.4 billion). And some analysts predict that CXMT could eventually command a market value of 3 trillion yuan, placing it among China’s most valuable listed technology companies. The listing will be a milestone for Zhu, who reportedly pledged in 2018 not to draw a salary from CXMT until the memory-chip project became profitable – which it did last year. Yet Zhu’s wager on Chinese memory chips began long before CXMT. More than two decades ago, when he was a Silicon Valley engineer with a chip design but little money, Zhu predicted that the centre of the global memory industry would eventually shift towards mainland China. In emails retained by Li Jun, one of his earliest investors, and later reproduced in a Tsinghua University alumni publication, Zhu observed that the industry had migrated from the US to Japan, and then to South Korea. “It is time for China to play [a] role in this industry,” he wrote.

July 13, 2026