Latest news with #MaryHuen
South China Morning Post
24-05-2025
- Business
- South China Morning Post
Why China's yuan needs Hong Kong to reach new international heights
The third and final part of the decoupling series looks at how Hong Kong's financial system is crucial for China to advance the internationalisation of the yuan amid geopolitical tensions and discussions on de-dollarisation. Read part one and part two Anyone seeking evidence that international businesses are actively looking to diversify from the US dollar can find it in Qatar, according to Mary Huen Wai-yi, chairwoman of the Hong Kong Association of Banks. Businesses in the affluent Middle Eastern nation are keen to take advantage of the yuan, also known as the renminbi (RMB), by using a 'toolbox' available in Hong Kong, she said after returning from a government-led trip two weeks ago. Members of the 10,000-member Qatar Chamber of Commerce and Industry raised questions like: 'if I have a joint venture, buy some capabilities from China, and do an investment together, how can the RMB pool help?' Huen said. 'We told them we have a big pool and different capabilities like settlement, payment, hedging [and] swaps', which can give them a level of comfort as they consider investments, added Huen, who is also the CEO of Hong Kong, Greater China and North Asia at Standard Chartered, one of the city's three note-issuing banks. An increase in yuan-denominated trades and investments should thrill Hong Kong's financial sector because it would translate to more deals and opportunities, especially amid strengthening ties between China and oil-rich Qatar as it steers its economy into new energy and technology, she added. The trend also showcases that the US' trade war has spilled over to the financial market, prompting more countries and businesses to consider alternatives to the dominant US dollar in international trades, payments and investments. This urgency to 'de-dollarise' dovetails with China's effort to internationalise its currency, a strategy that dates back to the 2008 financial crisis and aims to mitigate risks and assert financial independence amid escalating Sino-American decoupling.
South China Morning Post
19-05-2025
- Business
- South China Morning Post
Hong Kong offers vital linkages in aiding Qatar-China investment growth, bank says
Hong Kong can become a link for cross-border capital flows between Qatar and China, creating opportunities for investors in renewable energy and technology, digital currency and sustainable finance, according to a top executive at Standard Chartered. 'Mainland China has a market, Hong Kong has a big toolbox, and if you have a vision and want to invest, the three of us together should be a good match,' Mary Huen Wai-yi, the bank's CEO of Hong Kong, Greater China and North Asia, said in a briefing on Thursday, after returning from a government-led business promotion trip. As Qatar wants to diversify its economy by reducing its dependence on oil and gas, Huen said cross-border trades with China in new energy, financial services and technology were expected to increase. Investors could benefit from Hong Kong's deep capital market and connectivity with mainland China, she added. Hong Kong Chief Executive John Lee Ka-chiu led a business delegation to Qatar and Kuwait last week to deepen trade links with the Middle East amid a US-China tariff war. Huen was among 50 top executives and entrepreneurs from Hong Kong and mainland China on the trip. Middle East businesses were interested in China's power in artificial intelligence and other technology capabilities, Standard Chartered's Huen says. Photo: Jonathan Wong Qatar's GDP per capita of US$121,610 is among the largest in the economies in the region, thanks to its huge oil and gas reserves, according to the International Monetary Fund. Its wealth fund Qatar Investment Authority is the eighth largest globally with US$510 billion of assets, according to data compiled by Global SWF. China's capabilities in artificial intelligence and other technologies drew interest from Middle East investors, Huen said, citing discussions held during the trip. These include flying cars as Chinese carmakers jostle to build early advantage in the low-altitude mobility economy.
South China Morning Post
09-04-2025
- Business
- South China Morning Post
Standard Chartered hosts SME seminar to explore new opportunities in supply chain diversification and digitalisation
[The content of this article has been produced by our advertising partner.] Advertisement Standard Chartered Bank (Hong Kong) Limited ('Standard Chartered Hong Kong') today hosted a seminar for small and medium-sized enterprises ('SMEs') on 'Embracing Global Dynamics through Supply Chain Diversification and Digitalisation'. The event brought together over 200 SMEs from Hong Kong and Mainland China to explore opportunities arising from the transformation of cross-border business and digitalisation. The opening ceremony of the seminar was officiated by Mary Huen, CEO, Hong Kong and Greater China & North Asia, Standard Chartered; Arthur Yuen, Deputy Chief Executive, Hong Kong Monetary Authority (HKMA); Stephen Man, Head of Wealth Management and Retail Banking, Standard Chartered Hong Kong; and Winne Tung, Head of SME Banking, Standard Chartered Hong Kong. Mary Huen, CEO, Hong Kong and Greater China & North Asia, Standard Chartered, said, "Amidst uncertainties in the global trade market, Standard Chartered, as a partner of SMEs, remains committed to streamlining the loan application process for import and export trading firms by leveraging commercial data from e-commerce platforms. This supports SMEs' digital and cross-border transformation, addressing their need to expand into emerging markets in the Global South, including mainland China and ASEAN. We will continue to collaborate with the HKMA and other industries to support the development of SMEs, enabling them to diversify manufacturing bases and supply chains while seizing new opportunities through upgrades and transformation." This is the second year in a row that Standard Chartered Hong Kong has held the SME seminar. This time, the Bank invited experts from the fields of economics, investment, taxation, law, and digital innovation to share the latest market trends and business insights. As corporates increasingly look for overseas expansion and supply chain diversification, the seminar sought to help SMEs better understand and seize the emerging opportunities. Advertisement Standard Chartered Hong Kong is also an active participant in industry initiatives, such as the HKMA's Commercial Data Interchange ('CDI') project, and the proof-of-concept Commercial Credit Reference Agency 2.0 that further simplifies the financing process and promotes the development of digital economy. In 2024, the number of SME loan applications processed automatically through CDI, using directly obtained corporate credit records, increased by 30% year-on-year.
South China Morning Post
10-03-2025
- Business
- South China Morning Post
Standard Chartered and LIFTWOMEN® Jointly Launch 'SC WIN Now & Next Challenge'
[The content of this article has been produced by our advertising partner.] Advertisement Standard Chartered Bank (Hong Kong) Limited ("Standard Chartered Hong Kong") and LIFTWOMEN® announced the launch of 'SC WIN Now & Next Challenge', a new initiative under Standard Chartered's Women's International Network ("SC WIN"). The programme will leverage SC WIN's global network and resources, alongside LiftWomen®'s extensive experience and expertise in supporting women entrepreneurs, to offer 10 selected entrepreneurs an 8-week "LiftHER Global Accelerator Programme". Five winners will be awarded a total of HKD 1 million in grants and professional training to support their business growth. The launch event of the "SC WIN Now & Next Challenge" brought together prominent women entrepreneurs from the startup and business communities, celebrating the inaugural launch of the programme and learning about Standard Chartered's enhanced support for SMEs which is to strengthen their financial capabilities and develop business skills for expansion. According to the research by "Women of Hong Kong", SC WIN's Hong Kong partner, women entrepreneurs generally face limited access to funding channels. SC WIN was established to provide comprehensive support to women entrepreneurs through three key pillars: delivering products tailored to various business development stages, creating platforms to connect markets, client communities, suppliers and entrepreneurs across different regions, and assisting SMEs in formulating development and expansion strategies. (From left) Winnie Tung, Head of SME Banking at Standard Chartered Hong Kong; Xie Wen, Global Head of SME Banking at Standard Chartered; Mary Huen, CEO, Hong Kong and Greater China & North Asia at Standard Chartered; and Irene Tsang, Founder and CEO of LIFTWOMEN® participated in the launch ceremony of 'SC WIN Now & Next Challenge'. As a new initiative under SC WIN, the 'SC WIN Now & Next Challenge' targets women entrepreneurs who have successfully established their business models and are now poised for growth and market expansion. The programme is expected to attract over a hundred local women entrepreneurs to apply. Ten outstanding participants will be selected to join the 8-week LiftHER Global Accelerator Programme, where they will gain in-depth understanding of business operations and industry trends to refine their business strategies. The finalists will compete in a pitching challenge in late August for five awards. Advertisement Mary Huen, CEO, Hong Kong and Greater China & North Asia, Standard Chartered, said, "Standard Chartered Hong Kong is committed to supporting SMEs development. By collaborating with chambers and industry associations, we would help SMEs transform through digitalisation, cross-border expansion, and sustainability initiatives. To support women entrepreneurs to take their business to the next level, we launched SC WIN in Hong Kong in October 2023, offering a suite of lending solutions and networking events that enable them to connect for better business opportunities. The new addition of 'SC WIN Now & Next Challenge' will bring more benefits to the SMEs by providing them with better exposure and tools to strengthen their brand competitiveness and business skills to capture the upcoming growth opportunities which will inject new impetus into Hong Kong's economic development."
Yahoo
17-02-2025
- Business
- Yahoo
Standard Chartered, HKT, Animoca to form JV for HK dollar-backed stablecoin
(Reuters) - Standard Chartered Plc said on Monday its Hong Kong banking division, Animoca Brands and HKT will establish a joint venture to apply for a license from the Hong Kong Monetary Authority for issuance of a Hong Kong dollar-backed stablecoin. Standard Chartered said it has entered agreements with Animoca Brands, a company which specialises in Web3 for leveraging blockchains, and HKT, a major telecommunications service provider in Hong Kong, in order to "enable the JV to tap into crypto-native opportunities" and "enhance both domestic and cross-border payments", according to its statement. StanChart said it looks forward to becoming one of the first issuers launching an HKD-backed stablecoin with its strategic partners, according to Mary Huen, Chief Executive Officer of the bank's Hong Kong and Greater China & North Asia division. Sign in to access your portfolio
