Deloitte in the United States updated its well-being subsidy programme, allowing employees to spend up to US$1,000 annually on Lego sets and puzzles, reported Business Insider. The June policy update also includes kitchenware, spa services, personal portable cooling fans and ergonomic pillows. The subsidy is meant to “empower and support your journey toward thriving mentally, physically, and financially and living your purpose,” the policy documents say.
3
The number of banks that the Hong Kong Monetary Authority (HKMA) took disciplinary action against for anti-money laundering control failures. Indian Overseas Bank, Hong Kong Branch faced an HK$8.5 million penalty and a reprimand for deficient transaction monitoring and oversight. The other two banks, Bank of Communications (Hong Kong) Limited, and Bank of Communications Co., Ltd., Hong Kong Branch, were fined HK$4 million and HK$3.7 million, respectively, for failing to monitor certain transactions effectively.
1 August
The date Hong Kong’s Stablecoins Ordinance will take effect, which requires issuers of fiat-referenced stablecoins in Hong Kong, or those pegged to the Hong Kong dollar, to be licensed by the HKMA. The banking regulator is likely to issue its first stablecoin licences by early 2026, with applications due by the end of September, SCMP reported. On 29 July, the HKMA published licensing procedures and explanatory notes, as well as two sets of guidelines.
90-100
The number of initial public offerings (IPOs) PwC forecasts for this year, with total fundraising projected to exceed HK$200 billion. Hong Kong’s IPO market rebounded significantly in the first half of 2025, as a growing number of A-share listed companies sought listings in Hong Kong. Rising investor demand for core Chinese assets also drove market activity. “We expect 2025 to be the most active fundraising year for IPOs in the past four years,” said Diamantina Leong, PwC Hong Kong Capital Markets Services Partner.
“Economic transformation and upgrading is a continuous process. As long as we stay confident, make use of the country’s development strengths and policy support, and push for diversified and high-quality growth, Hong Kong’s economy will gain momentum and benefit its people.”
– Financial Secretary Paul Chan in his weekly blog. Driven by robust exports, private consumption, and mega-events, Hong Kong’s gross domestic product is expected to maintain growth for the second quarter, marking a 10th consecutive quarter of year-on-year expansion, Chan noted.
HK$3.47 billion
The amount raised by life and health insurance company FWD Group Holdings in its Hong Kong IPO. Shares of FWD Group closed up 1 percent in its Hong Kong trading debut on 7 July. After the IPO, CEO Huynh Thanh Phong said FWD would continue to focus on Asia, the fastest-growing insurance market worldwide.
HK$1.4 trillion
Hong Kong’s pension scheme, the Mandatory Provident Fund (MPF), reached an all-time high of HK$1.4 trillion as of June, an increase of 130 percent from 10 years earlier, said Mandatory Provident Fund Schemes Authority Chairwoman and Institute member Ayesha Macpherson Lau. As of end of 2024, around 125,000 MPF members had assets of more than HK$1 million, double the number from five years earlier.
73%
The percentage of large companies from G20 countries obtained assurance on their sustainability disclosures in 2023, up from 69 percent the previous year, according to The State of Play: Sustainability Disclosure and Assurance, (Five-Year Trends and Analysis, 2019-2023), a report by IFAC and AICPA & CIMA. Audit firms lead in providing assurance (55 percent), as opposed to other service providers, with notable increases in Singapore, South Africa, the United Kingdom, and the U.S. The report also notes that certain jurisdictions had double-digit increases in sustainability assurance in 2023, including Hong Kong.
