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The rate of contribution was progressively increased to 25% for both employers and employees in 1985. The employer contribution was cut to 10% during a recession in 1986. The employer contribution rate was reverted to match the employee rate until the 1997–1998 Asian Financial Crisis, and thereafter lowered to 10% for workers 55 years or younger.
As one of the top five financial centres worldwide, Hong Kong has one of the highest concentrations of banking institutions in the world, with 70 of the largest 100 banks in the world having an operation in Hong Kong. As of 2019, there were 164 licensed banks, 17 restricted licence banks and 13 deposit-taking companies in business, constituting ...
[1] The New York Times also said that those changes could potentially benefit Chinese Communist Party officials, as families of top officials had bought property in Hong Kong using companies. [ 2 ] In December 2022, the FSTB announced that it would seek to regulate crowdfunding in Hong Kong, suggesting that all campaigns file an application ...
Commercial banks in Singapore may undertake universal banking, such as the taking of deposits and the provision of cheque services and lending, as well any other business authorised by the Monetary Authority of Singapore, including financial advisory services, insurance brokering and capital market services, as long as they are permitted under section 30 of the Banking Act.
3041.HK Global X FTSE China Policy Bank Bond ETF - tracks the FTSE China Policy Bank Bond Index (Delisted 2021-12-08) 3043.HK db x-trackers MSCI PACIFIC EX JAPAN INDEX UCITS ETF (DR) - tracks the MSCI Pacific ex Japan TRN Index (Delisted 2020-10-27) 3046.HK Value China ETF - tracks the FTSE Value-Stocks China Index
HSBC is one of the three commercial banks which are authorised to issue banknotes for Hong Kong - the other two being the Bank of China (Hong Kong) and Standard Chartered Bank (Hong Kong). [5] Of the total notes in circulation measured by value, HSBC is the most prolific issuer, its notes representing 67.7% of those in issue.
In Hong Kong, profits tax is an income tax chargeable to business carried on in Hong Kong. Applying the territorial taxation concept, only profits sourced in Hong Kong are taxable in general. Capital gains are not taxable in Hong Kong, although it is always arguable whether an income is capital in nature.
FWD Financial Centre in 2013 in Hong Kong. Richard Li of Pacific Century Group formed FWD Group in 2013 [8] after purchasing ING Group’s insurance and pension units in Hong Kong, Macau and Thailand for US$2.1 billion. [5] [10] Swiss Re bought a 12.3% stake in FWD Group in 2013 [14] for $425 million. [15] Huynh Thanh Phong joined as CEO in ...