guangzhou

Local government sells bond linked to shares of Hong Kong-listed Yuexiu Transport Infrastructure.

Hong Kong and southern China’s financial systems look set to become more interwoven after the bid for Chong Hing, one of Hong Kong’s last independently run banks.

The firm plans to increase its headcount in China to more than 20,000 to meet the increasing demand for professional services in the fast-growing economy.

Retail investors take half of the $582 million Chinese property IPO and cornerstones one quarter, leaving meagre pickings for institutions.

The Guangzhou-based developer will set aside about 25% of the offering for four cornerstone investors, including fellow property company Guangzhou R&F.

Chinese property play manages to raise $254 million in face of difficult markets.

The US bank will process trade transactions through the new hub. Some job losses in Hong Kong and Singapore.