Category: Hong Kong

Jul 26 2024

Hong Kong, Korea, Mainland, Stocks

HSBC fined S$4.15M for offering incentives to unregistered intermediaries in MPF scheme

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SINGAPORE: HSBC, the largest lender in Asia, has been fined HK$24 million (approx. S$4.15 million) by Hong Kong’s Mandatory Provident Fund Schemes Authority (MPFA). The penalty stems from HSBC’s …

Jul 26 2024

Hong Kong, Korea, Mainland, Stocks

Exiled pro-democracy Hong Kong activists blocked from accessing pensions

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Assets, including pension savings, belonging to Ted Hui (許智?), a former pro-democracy legislator who is now based in Australia, were frozen shortly after he fled from Hong Kong in December...

Jul 24 2024

Hong Kong, Korea, Mainland, Stocks

HSBC, Manulife decline comment after report that wanted activists barred from accessing pension funds

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Financial institutions HSBC and Manulife have declined to comment on a report that two overseas Hong Kong activists wanted under the security law, former lawmaker Ted Hui among them, were...

Jul 24 2024

Hong Kong, Korea, Mainland, Stocks

China’s leaders have floated the idea of raising the retirement age. It hasn’t gone down well

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Firefighters are pounding the pavement on Vancouver Island for a good cause, after traditional fundraisers were called off due to COVID-19.

Jul 19 2024

Hong Kong, Korea, Mainland, Stocks

Hong Kongers Fleeing to UK Leave $3.8 Billion Trapped Behind

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As China tightens its control over Hong Kong, a wave of residents are permanently relocating to the UK and leaving their retirement money trapped behind in the Asian financial hub.Normally, anyone …

Jul 19 2024

Hong Kong, Korea, Mainland, Stocks

Hong Kongers fleeing to Britain leave $5.1b trapped behind

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Banks won’t recognise BN(O) passports as official documents to access pension cash before retirement. Read more at straitstimes.com.

Jul 15 2024

Hong Kong, Korea, Mainland, Stocks

Hong Kong firms need to rethink mandatory retirement ages in today’s world

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In most offices across Hong Kong, companies have set mandatory retirement ages, pushing veteran employees out the door when they hit 60, or in some firms 65. As that corporate...

Jul 13 2024

Hong Kong, Korea, Mainland, Stocks

Hong Kong, Guangdong sign 6 cooperation deals to strengthen Greater Bay Area integration

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City leader John Lee and Guangdong Governor Wang Weizhong meet in Guangzhou, with deals signed covering food safety to healthcare cooperation.

Jul 11 2024

Hong Kong, Korea, Mainland, Stocks

Core Accumulation Fund ranks best-performing MPF investment choice

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The Core Accumulation Fund (CAF) topped all investment choices under Hong Kong’s Mandatory Provident Fund (MPF) scheme, reporting an 11.5% net investment return in the 12 months to June 2024....

Jul 11 2024

Hong Kong, Korea, Mainland, Stocks

HSBC fined $3 mln over incentives given to unauthorised agents for MPF scheme

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HSBC has been fined HK$24 million ($3.07 million) for offering incentives to “unregistered intermediaries” to get clients to join its Mandatory Provident Fund (MPF) scheme in 2020 and 2021, Hong...