BANKING SERVICES

Delivering Digitalisation: A Blockchain-enabled Supply Chain

03 August 2022

The recent prolonged supply chain disruptions have posed ongoing logistics challenges on a global level. To solve these problems, a local technology firm applies blockchain technology to enhance traceability and visibility of shipments, and simplify, in turn, the cargo release and trade finance processes. More

hktdc research

Financial Sector Urged to Provide Better Service to Manufacturing Industries

28 July 2022

The China Banking and Insurance Regulatory Commission called on banks and insurance institutions to provide better service to manufacturing industries and support their development, stressing that banks must strengthen their support for advanced manufacturing, strategic emerging industries, the transformation and upgrading of traditional industries, and drive innovation in financial products and services. More

hktdc research

SINGAPORE: Currency Swap Arrangement with China Extended for Five Years

28 July 2022

Singapore and China have agreed to extend their currency swap arrangement for another five years. The Monetary Authority of Singapore and the People’s Bank of China announced that the Bilateral Currency Swap Arrangement has been renewed until 2027. More

hktdc research

Enhancing Fintech Services and Customer Experience

27 July 2022

The granting of virtual bank licences is a key move for Hong Kong in the new era of smart banking, providing customers with innovative services via fintech. WeLab Bank was granted a virtual banking licence by HKMA in 2019. Simon Loong, Founder and Group CEO of WeLab, shared with HKTDC Research his views on the development prospects of virtual banking in Hong Kong as well as the opportunities for expanding into overseas markets. More

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PAKISTAN: First Phase of Trade Single Window Officially Launched

26 July 2022

Pakistan launched the initial phase of the Pakistan Single Window (PSW) on 30 June 2022, to facilitate trade and lower the cost of doing business. More

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INDIA: Central Bank Allows International Trade Settlements in Indian Rupees

25 July 2022

On 11 July 2022, The Reserve Bank of India (RBI) announced in RBI/2022-2023/90 A.P. (DIR Series) Circular No.10 that Indian rupees can now be used for international trade settlements. More

hktdc research

Zhongshan Rolls Out 138 Economic Stabilisation Measures

06 July 2022

Zhongshan recently rolled out 138 measures to stabilise the city’s economic performance. Fiscal, monetary and financial measures are to be taken to maintain steady growth in investment, stimulate consumption, and ensure food, energy and basic livelihood security, as well as industrial and supply chain stability. More

hktdc research

Virtual Banking: New Business Model under Technology Era

28 June 2022

Hong Kong is an international fintech hub, characterised by a diverse, resilient and dynamic market. The Hong Kong Monetary Authority (HKMA) has granted eight virtual bank licences since 2018. Barbaros Uygun, CEO of Mox Bank Limited, shared the company’s business model under the new technology era in an interview with HKTDC Research, as well as the latest fintech developments in Hong Kong. More

hktdc research

THAILAND: VAT Waived for Crypto Transfers and Thai CBDC

27 June 2022

Thailand has exempted from value-added tax (VAT) the transfer of cryptocurrencies or digital tokens via licensed digital asset exchanges, as well as the transfer of the central bank digital currency (CBDC) issued by the Bank of Thailand (BOT). More

hktdc research

EU Adopts New Wave of Sanctions Against Russia: Majority of Oil Imports to Be Restricted

10 June 2022

The European Commission has reported on 3 June 2022 that it welcomes the adoption of the sixth package of restrictive measures (sanctions) against Russia. The package was published in the EU Official Journal on the same day. The package also imposes further sanctions against Belarus considering its involvement in the aggression. As with previous sanctions packages, they have reportedly been coordinated with international partners. More

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