Annabelle Long

China CITIC Bank International Limited was recognised as the Best Custodian Bank for achieving robust growth and profitability despite a challenging financial environment in China. The bank demonstrated strong financial and strategic leadership in the custody business compared to its Asian peers, with assets under custody growing by 10% year-on-year to reach $2.1 trillion. It was one of the few banks in China to achieve positive net profit growth in 2023, strategically focusing on pension funds and further digitalising its custody platform.  The Financial Markets Awards is a landmark recognition programme to benchmark institutional leadership and performance in both the regulated markets and exchanges of Asia Pacific, the Middle East and Africa regions. See the full list of winners here: https://bit.ly/3KxMhx8 Jenny Lai, Daisy Chau, Issa Chan, Shirley F., Walter Wang, miriam yuen, Marco Law, Chris Guan, Nelson Cheung TAB Global #FinancialMarketAwards #InstitutionalLeadership #MarketPerformance #RegulatedMarkets #ExchangesLandscape #AsiaPacificFinance #MiddleEastFinance #AfricaFinance #GlobalFinance #FinancialTransformation #RisingRates #InflationPressure #DigitalAssets #BankingInnovation #MarketDigitisation #FinancialDemocratisation #InvestmentAwards #FinanceExcellence #FinanceLeadership #FinancialAwards2025

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Hang Seng Bank was recognised as the Best Payments and FX Bank in Hong Kong for its collective strength in payments and cross-border FX in the Greater Bay Area of Guangdong, Hong Kong and Macao.     Responding to heightened interest rates and FX risks, this bank enhanced customer working capital and liquidity management by integrating collection solutions with FX APIs, QR-code payment systems, and a liquidity management platform for optimising operating cash and yields.      It also launched an FX prompt matching service on its e-banking platform to offer improved advice on managing cross-border transactions.     The Transaction Finance Awards 2024 recognises achievements in key business and operational areas of the financial services industry. They programme highlights the winning banks’ annual achievements, competition for market share, and product and operational excellence. The awards were presented on 23 May at the Conrad in Hong Kong in conjunction with The Asian Banker Summit, now in its 25th year.     See all the winners here: https://bit.ly/3QZ66AU     Foo Boon Ping 胡文彬, Chris Kapfer, TAB Global      #TransactionFinanceAwards2024 #BankingAwards #TransactionBanking #CashManagement #TradeFinance #Payments #FinancialServices #BankingExcellence #Tokenization #SustainableBanking #GlobalBankingAwards #Banking #BankingIndustry #Excellence #CorporateBanking #TheAsianBanker #TABGlobal

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Thanks, Jeremy Olivier, for the good discussion on recent developments in Taiwan's and global markets. Taiwan will continue to benefit from its importance in the global semiconductor supply chain as well as its diversified economy that encompasses key roles in many industries' supply chains. Commodity prices and geopolitical tensions may create some headwinds, but not enough to reverse the general direction the economy and its markets are in. Thanks and always great to watch TaiwanPlus. Link: https://lnkd.in/erMDDUpp

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abrdn Asian Income Fund Limited is an investment company that offers the prospect of both capital and income growth and could be considered a core offering for investors seeking diversification through #Asian equity exposure. Hear from Edison's Milosz Papst and Yoojeong Oh, CFA, one of the fund's managers, as they explore the potential opportunity in Asia. For more on emerging markets, read our latest report: https://lnkd.in/eaPgvTrc #EM #emergingmarkets #asia abrdn Investment Trusts

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Leveraging on our strong Chinese parentage, we are establishing ourselves as the China-ASEAN nexus, providing investors unparalleled access to opportunities in both regions. Read more in this exclusive interview with GCEO Carol Fong on The Digital Banker : https://lnkd.in/gVDefT44

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𝐄𝐱𝐞𝐜𝐮𝐭𝐢𝐯𝐞 𝐄𝐪𝐮𝐢𝐭𝐲 𝐑𝐢𝐬𝐤-𝐓𝐚𝐤𝐢𝐧𝐠 𝐈𝐧𝐜𝐞𝐧𝐭𝐢𝐯𝐞𝐬 𝐚𝐧𝐝 𝐅𝐢𝐫𝐦𝐬’ 𝐂𝐡𝐨𝐢𝐜𝐞 𝐨𝐟 𝐃𝐞𝐛𝐭 𝐒𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞 By Prof. Walid Saffar (Professor of Finance) at the School of Accounting and Finance, The Hong Kong Polytechnic University. Debt is a major source of external financing for U.S. public firms. Although firms use multiple types of debt to fulfill their external financing needs and experience significant changes in their debt composition from one year to the next, most empirical research treats corporate debt as uniform (Rauh and Sufi, 2010). However, prior theoretical work (e.g., Diamond, 1991, 1993; Bolton and Scharfstein, 1996) and recent empirical studies (Colla et al., 2013; Chen et al., 2020) acknowledge heterogeneity in debt composition and seek to identify the sources of this heterogeneity. Even though bonds and bank loans are major sources of global debt financing, our understanding of the factors influencing firms’ debt structure choices remains limited, partly because detailed data on firm debt structure has become available only recently (Colla e al., 2013; Li et al., 2019). In particular, while prior research focuses on accounting quality, ownership structure, and product market-related determinants of firms’ choices between public and bank debt (Bharath et al., 2008; Dhaliwal et al., 2011; Liao, 2015; Morellec et al., 2015; Boubaker et al., 2017), we have little understanding of how executive equity incentives affect those choices. Paucity of research in this area is at odds with extant literature that documents the impact of equity incentives on corporate policies (Coles et al., 2006; Chava and Purnanandam, 2010; Armstrong et al., 2015). Against this backdrop, we explore how executive equity risk-taking incentives affect firms’ choice of debt structure.   Using a longitudinal sample of U.S. firms, this paper documents that when executive compensation is more sensitive to stock volatility (i.e., has higher vega), firms reduce their reliance on bank debt financing. Supplemental analyses suggest that firms with higher vega face more stringent bank loan covenants. They conclude that, by encouraging risk-taking, higher vega reduces firms’ reliance on bank debt financing in order to avoid more stringent bank monitoring. 𝐂𝐢𝐭𝐚𝐭𝐢𝐨𝐧: 𝐂𝐡𝐞𝐧, 𝐘., 𝐇𝐚𝐬𝐚𝐧, 𝐈., 𝐒𝐚𝐟𝐟𝐚𝐫, 𝐖. 𝐚𝐧𝐝 𝐙𝐨𝐥𝐨𝐭𝐨𝐲, 𝐋., 𝟐𝟎𝟐𝟏. 𝐄𝐱𝐞𝐜𝐮𝐭𝐢𝐯𝐞 𝐞𝐪𝐮𝐢𝐭𝐲 𝐫𝐢𝐬𝐤-𝐭𝐚𝐤𝐢𝐧𝐠 𝐢𝐧𝐜𝐞𝐧𝐭𝐢𝐯𝐞𝐬 𝐚𝐧𝐝 𝐟𝐢𝐫𝐦𝐬’ 𝐜𝐡𝐨𝐢𝐜𝐞 𝐨𝐟 𝐝𝐞𝐛𝐭 𝐬𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞. 𝐉𝐨𝐮𝐫𝐧𝐚𝐥 𝐨𝐟 𝐁𝐚𝐧𝐤𝐢𝐧𝐠 & 𝐅𝐢𝐧𝐚𝐧𝐜𝐞, 𝟏𝟑𝟑, 𝐩.𝟏𝟎𝟔𝟐𝟕𝟒. Our CESEF team members: Lixin (Nancy) Su Wu Qiang Haitian LU Yong (Jimmy) Jin, Ph.D., FRM Prof. Lapman Lee ✔ Dr Cheng (Colin) Zeng Xiaohui (Fiona) LI Lisa Chengzhu SUN Dr Xiang Yi Chi Man Yip

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MPF Ratings highlighted the risks to MPF members who treat MPF as a short term trading investment. April is expected to see a -2.85% decline in MPF returns led by falls in US equities just as an unprecedented record $9.2bn moved into the world’s largest stock market in anticipation of ongoing US equity strength. Find out more here: https://lnkd.in/eh52mVzX #mpfratings #MPFRIntelligence #MPFRConsistentPerformers #MPFFastMover #MarketInsights #MPFMarketShare #MPFFundFlows #MPFNetReturns #MPFIndustry #pensionschemes #assetmanagement #investmentmanagement #mpf #investment #empf

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In an exclusive #interview with The Korea Times, AMRO Chief Economist Hoe Ee Khor shared his views on #Korea's household, corporate, and government #debt. Dr Khor assessed that the relatively high debt burden for the household and corporate sectors may continue to weigh on private consumption and investment, posing a drag on growth. Amid rising government debt and increasing fiscal needs, a steadfast commitment toward fiscal consolidation is vital. ➡ Read more: https://lnkd.in/gRhSimfs

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We are pleased to share that Dr. Anthony Ng, Co-Founder and CEO of Hong Kong Virtual Asset Exchange (HKVAX), will be a panelist at The Asian Banker Summit 2024. Taking place on May 23 in Hong Kong, this summit gathers leading minds and innovative ideas from the global financial sector. Anthony will participate in the Closing Keynote Session from 15:30 to 16:30, titled "From Virtual to Real: Exploring the Evolving Landscape of Virtual Economies and Digital Assets." This session will examine the opportunities and challenges posed by transformative technologies like #NFTs, #DAOs, #stablecoins, #CBDCs, and #metaverses. Joining Anthony will be Hakan Eroglu from BIS, Gerald Goh from Sygnum Singapore, and Kevin Loo from DigiFT. We're looking forward to an engaging and insightful discussion that promises to provide valuable perspectives on the future of digital assets and virtual economies. 🌐 Register now: https://lnkd.in/dxtcuMwW #HKVAX #AsianBankerSummit2024 #DigitalAssets #VirtualEconomies #FinanceInnovation

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ASEAN Plus 3 voices concerns over excessive exchange rate volatility; pursuing exchange rate stability #Japan, #China, #SouthKorea, and #ASEAN express concerns over #currency depreciation and exchange rate volatility. #Finance ministers emphasize stability, amid discussions on regional cooperation and economic risks. https://lnkd.in/dCjGWuaW

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Seminar on Banking Sector’s Support Measures for Small and Medium-sized Enterprises The Hong Kong Monetary Authority (HKMA), the Hong Kong Association of Banks and the Chinese Banking Association of Hong Kong co-organised a seminar on the banking sector’s support measures for SMEs 24 June, QFPAY Hong Kong Terry C. is honored to join the seminar and exchange views on how the banking sector supports the business transformation of SMEs. Since the introduction of the nine SME support measures by the HKMA and the Banking Sector SME Lending Coordination Mechanism on 28 March this year, around 7,000 SMEs have benefitted from the measures, involving an aggregate credit limit of over HK$15 billion. Today’s seminar enabled the banking sector to further understand the needs of SMEs, while at the same time strengthened customers’ awareness of the support measures. The three panel discussions covered topics including how banks leverage financial technology, including the HKMA’s Interbank Account Data Sharing (IADS) initiative, to help SMEs obtain bank financing in an easier and faster manner, and how banks support the business transformation of SMEs. Several SME operators shared experiences and success stories of how they have benefitted from the banks’ support in branching out into other markets and expanding their business to different regions QFPAY Hong Kong will continue to support the continuous development of SMEs. #HKMA #DigitalTransformation #StandardCharteredBank #QFPay #Payments #CDI https://lnkd.in/g_ZYXCHe

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Join our call tomorrow (15th May) with Shehzad Qazi of China Beige Book (CBB), titled "China: Rebound Prospects, Macro Headwinds, Next Phase of US-China Trade War". CBB was founded to help institutional investors and corporate CEOs navigate China’s notoriously black box economy. Today they operate the largest private in-country data-collection network ever developed to track the Chinese marketplace, gathering real-time economic data from thousands of firms across all of China’s regions, sectors, and 34 discrete industries. On the call, Shehzad will discuss: * China's Q1 rebound and latest macro trends per CBB's proprietary data * Will property bottom in 2024? * Big Stimulus finally on the way? * Why we're headed into a new China trade war in 2025 For more details or to join the call, please contact: edward@independentresearchforum.com #independentresearch #chinamarket #Chinatradewar #chinamacro

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Masumi Nishida, a partner at Dalton Investments, had his radio show featured on Asia Nikkei. His "Investor's Sunday" program on the popular InterFM network invites a guest every week to talk about the world of high finance, including shareholder activism and private equity investment. According to Nishida, "There is a stereotype about activists being a bunch of faceless foreign investors telling companies whatever they want." Nishida believes that there is still a lot of room for improvement for governance in corporate Japan as only 16% of companies listed on the TSE's Prime section have a majority of independent board members. Read more about the challenges facing Japanese activism here: https://lnkd.in/g-JfSzhe

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Explore the future of #ESG bonds at 𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗹𝗲 𝗙𝗶𝗻𝗮𝗻𝗰𝗲 𝗔𝘀𝗶𝗮 𝗙𝗼𝗿𝘂𝗺 on 𝟮𝟬 𝗝𝘂𝗻𝗲. 𝗦𝗲𝗰𝘂𝗿𝗲 𝘆𝗼𝘂𝗿 𝗩𝗜𝗣 𝘁𝗶𝗰𝗸𝗲𝘁 𝗻𝗼𝘄: https://bit.ly/3wSyj5s. Join the panel "Moving Forward – building a more resilient bond market in 2024 and Beyond", in which the market players will explore further possibilities and variability in the market and discuss actionable insights for stronger market growth. Our esteemed speakers are: - Sylvia Chen, head of ESG, South Asia, Amundi Asset Management - Fanny Lung, finance director, Swire Properties View the agenda here: https://bit.ly/3wZeoBG. #SustainableFinance #Bonds #Bondmarket #GreenFinance #Sustainability #FinanceAsia

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Hong Kong’s Deputy Financial Secretary Michael Wong: Data Shows HK’s Status as an International Financial Center is Solid At the Hong Kong Investment Funds Association annual meeting held on June 24，Michael Wong, Deputy Financial Secretary of the HKSAR government, stated that despite facing multiple challenges, data shows that Hong Kong remains vibrant and resilient. He is confident that Hong Kong's status as an international financial center will continue to improve, emphasizing that this optimism is based on facts. He believes that Hong Kong can benefit the Chinese mainland economies as well as the local financial sector, and he looks forward to the industry promoting positive news about Hong Kong to their clients. Wong stated that despite talks of capital outflow, Hong Kong's bank deposits reached HK$16 trillion in 2023, over 5% higher than in 2022. In the first 4 months of 2024, deposits further increased by 2.1%. For the year ending March 2024, Hong Kong's public funds recorded a net fund inflow of about HK$90 billion, an impressive 45% growth year-on-year. He also pointed out that Hong Kong ranks first in Asia for asset management, with AUM reaching US$4 trillion in 2022. There are about 2,700 single family offices in Hong Kong, with 60% managing assets over US$50 million. Over the past 3 years, the number of hedge fund managers, private equity fund managers, and family offices in Hong Kong has increased by 24%. He said over the past 3 years, the number of SFC-licensed firms has grown by more than 4% to about 3,250. In 2023, there were 9,039 regional headquarters, regional offices, and local offices in Hong Kong with parent companies outside Hong Kong, slightly more than in 2022. He also mentioned that over 120,000 successful applicants have already come to Hong Kong under various talent schemes. The median salary of these talents is about HK$600,000 per year, with the top 10% earning over HK$2.5 million.

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