〈The Standard, June 14, 2025〉The Hong Kong Monetary Authority aims to see a more reliable and regulated stablecoin environment in the city in a few years, after the coming stablecoin law has sparked market interest.
Arthur Yuen Kwok-hang, the authority's deputy chief executive, mentioned at an event today that tokenization is believed to take part in economic activities and financial market transactions in five years.
Yuen considered that it is necessary to make complementary efforts in the platform for clearing and settlement of tokenization and to build ahead of time.
Stablecoin is a unit of tokenized clearing, Yuen said, adding that the tokenization-related regulatory work can be carried out after the stablecoin ordinance comes into effect on August 1.
〈Hong Kong Business, June 13, 2025〉Hong Kong's status as a shopping haven for Mainland Chinese tourists is fading as rising prices of imported US goods due to high tariffs drive shoppers away.
“There's been a surge in interest from mainland Chinese tourists for US goods in Hong Kong, but conversion rates remain low,” Sean Fu, senior vice president for Greater China at Global Payments, told Retail Asia.
They are likely to look elsewhere, perhaps Japan and South Korea, which both have a reputation for quality, he added.
〈Asian Post, June 12, 2025〉New World Developmet Co. Ltd.’s decision to defer coupon payments on four senior perpetual bonds has raised investor concerns over the company’s liquidity, S&P Global Ratings said.
The move follows its earlier choice not to call a $2.71b (US$345m) perpetual bond, leading to a coupon step-up from 6.15% to around 10% in mid-June.
S&P warns the situation could hurt buyer confidence and weigh on Hong Kong’s property market, potentially pushing home prices down 5% to 7% this year.
Analysts say funding access for developers may tighten, with banks favouring stronger firms and others facing higher borrowing risks.
〈Hong Kong Business, June 11, 2025〉The sale and purchase agreements for building units in Hong Kong dropped to 6,442 in May 2025, the Land Registry reported. This is a 10.9% decrease from April and 12.5% lower than May 2024.
The 12-month moving average fell slightly to 5,643, down 1.3% from April but still 17.1% higher than last year.
Total transaction value was $49.8b, down 0.5% from April and 20% below May 2024.
Residential unit sales numbered 5,105, a 10.3% decline from April and 8% lower than last May. Their total value dropped 9.4% month-on-month and 28.3% year-on-year to $38.2b.
〈RTHK News, June 20, 2025〉Chief Executive John Lee has vowed to find new ways to accelerate the development of the Northern Metropolis, saying there is a “burning urgency” to transform the area into a new housing hub and engine for economic growth.
In a media interview in the run-up to his third anniversary in office, Lee said his administration will leave no stone unturned in expediting the ambitious project to create an integrated, 30,000-hectare hub in the northern New Territories that’s expected to accommodate 2.5 million residents and and providing some 650,000 jobs.
"This is one-third of Hong Kong's geographical area. It is also a place to house one-third of our population," Lee said.
