With China's DeepSeek already shaking up 2025's AI market, around $70bn was raised last year by Asia's tech firms.

The Hong Kong property developer secured the deal with a consortium of international, Chinese and local banks; the company cited "challenging" market conditions in mainland China and Hong Kong as 2024 profits fell 25%.

Slowing loans, M&A and ECM hit banks' fees last year. Technology, exports and bonds are bright spots, while Hong Kong is increasingly being seen as a place to raise foreign capital. PBOC's governor Pan Gongsheng wants a proactive policy approach.

Pam Hsieh will focus on the private credit firm’s relationships with financial intermediaries and wealth managers across Taiwan, Hong Kong and Singapore.

Illicit financial outflows hit $16bn annually while the local stock exchange and the environment was neglected, according to a white paper published by the interim government.

FA will have a limited news service over the Christmas and New Year weeks.

Asset managers share the view that despite a strong base for the US economy, Trump’s actual tariff and immigration policies after he assumes office will be key.

HPS is a global credit investment manager with approximately $148bn in client assets; BlackRock expects the private debt market to more than double to $4.5tn by 2030.

Mid-tier accounting firms and unicorn financing are creating new opportunities for private credit investors as China reforms its property sector.