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Greater Bay Area SMEs show ‘strong appetite’ for financial services

Many SMEs are underbanked, Bain & Company found.  Small and Medium Enterprises (SMEs) in the Greater Bay Area are showing a “strong appetite” for financial services, Bain & Company reported.  “SMEs in the GBA are highly positive of the economic outlook and they are eager to...

Hang Seng Bank raises prime rate to 5.625%

Staff Reporter , Hong Kong Stock photo. Credits to Unsplash. The bank will also be raising its savings rate by 0.625% per annum. Hang Seng Bank has announced that it will be raising its prime lending rate by 25 basis points from 5.375% per annum (p.a). to 5.625% p.a. The...

6 in 10 SMEs plan to invest over 15% of their revenue within GBA: survey

Staff Reporter , Hong Kong Photo by Ryan Mac on Unsplash Enterprises are highly optimistic about GBA’s economic growth potential. More than half (60%) of small and medium enterprises in Hong Kong are eyeing to invest over 15% of their revenues within the Greater Bay Area, Hang Seng Bank...

Hong Kong improves to 4th place in global financial centres ranking

It rose four places with an overall rating of 725. Hong Kong ranked fourth in the Global Financial Centres Index (GCFI) with an overall rating of 725, improving by four notches from the previous issue, according to the government. The GCFI report by the Z/Yen from...

7 in 10 Hongkongers will avoid cross-border payment providers lacking transparency

Hidden costs are amongst the main challenges for locals when making money transfers. About 69% of Hongkongers will stop using cross-border payment providers and services which do not practise fee transparency, an independent study by Coleman Parkes has found. According to locals, hidden costs (44%) are...