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In 2024, HSBC, as part of the Hong Kong Association of Banks, began developing a roadmap to phase out cheques in the city and switch to electronic payments. According to Hong Kong Interbank Clearing Limited, cheque transactions in Hong Kong fell to HK$488.6 billion (US$62.5 billion) in December, down 13 percent year-on-year. [119]
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.
Director of the Office of the Hong Kong Chief Executive John Tsang Paul Chan: 3: Eddie Yue Wai-man, JP 余偉文 (1965–) 1 October 2019 Incumbent: 5 years and 136 days Chinese University of Hong Kong (B.B.A.) University of London (LL.B, M.S.) Harvard University (M.B.A.) Deputy Chief Executive of the Hong Kong Monetary Authority Paul Chan
The ordinance provides a framework for the Hong Kong Government to exchange views with the banking sector for the further development of the industry. Although banking licenses are granted by the Hong Kong Monetary Authority, licensed banks in Hong Kong are required to join the HKAB and are thus subject to HKAB's rules. Its members are the ...
Bank director, civil servant Signature Eddie Yue Wai-man ( Chinese : 余偉文 ; born 21 September 1964) is the 3rd and current Chief Executive of the Hong Kong Monetary Authority , having held the position since 1 October 2019.
Charles Li, one of the longest-serving chief executives of a global financial marketplace, has thrown in the towel after more than a decade as head of the Hong Kong stock exchange (HKEX), in a ...
DayDayCook, a recipe hub founded by former HSBC banker-turned-online influencer Norma Chu, will merge with a New York-listed special purpose acquisition company (SPAC), becoming the first Hong ...
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 ...