Hong Kong

Shein’s high-stakes push for a public listing has taken a new twist. The fast-fashion giant is reportedly considering shifting its corporate base back to China from Singapore in a bid to win Beijing’s approval for a Hong Kong initial public offering (IPO), according to Bloomberg.

China Merchants Bank (CMB), one of China’s biggest financial institutions has successfully set up its first crypto exchange in Hong Kong under its subsidiary company, CMB International Securities Limited.

The company addressed the rumors on Weibo Sunday night, warning the public not to be misled by reports suggesting such a project was underway.

Chinese regulators have enacted a new ban preventing local firms from hosting seminars or publishing research papers related to stablecoins.

Standard Chartered and Animoca Brands have launched a new company to develop a Hong Kong-dollar stablecoin and applied for a licence from the Hong Kong Monetary Authority. They are working within Hong Kong’s new strict stablecoin regulations to offer a secure and regulated digital payment option.

Chinese e-commerce titan JD.com has reportedly registered two stablecoins-Jcoin and Joycoin-through its fintech arm JD Coinlink Technology, according to Hong Kong media reports.

Hong Kong will be officially enforcing its new rule that makes it a criminal offense to offer or promote unlicensed stablecoins to retail investors beginning August 1.

Leading Chinese-based Layer 1 blockchain Conflux Network is eyeing on the release of a stablecoin, which would be pegged to the offshore Chinese Yuan.

DePIN Expo 2025, the first large-scale Web3 consumer tech event focused on on-chain hardware and decentralized infrastructure, will debut in Hong Kong this August to spotlight the convergence of blockchain, real-world devices, and AI.

CMB International Securities (CMBI), the brokerage division of China Merchants Bank, has received a virtual asset licence from Hong Kong’s Securities and Futures Commission (SFC), marking a significant milestone for the regional digital assets landscape.