Hong Kong’s Bad-Debt Bankers Ramp Up Fire Sales, Liquidations

A small group of bankers in Hong Kong tasked with cleaning up the city’s unprecedented pile of bad debt is done playing nice, Bloomberg News reported. They number under 200 people, less than 0.07% of the city’s finance workforce. But these so-called special asset bankers are up against a large and increasingly urgent task: cutting a HK$200 billion pile of soured debt that’s pushed the city’s distressed loan ratio to a two-decade high.
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Hong Kong’s Economy Expands at Strongest Pace in Nearly Five Years

Hong Kong’s economy expanded at its fastest pace in nearly five years in the first quarter of 2026, underscoring the strength of its recovery even as the outbreak of war in the Middle East clouds the outlook for growth and inflation across Asia, the Wall Street Journal reported. Advance data, marking the first economic print since the war broke out, showed that the city’s gross domestic product rose 5.9% in January-March period from a year earlier.
Hong Kong
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Hong Kong Regulators Fine PwC $166M over China Evergrande Audit

PwC, one of the world's biggest accounting firms, is paying HK$1.3 billion ($166 million) in fines and compensation in Hong Kong over its audit work for the failed Chinese property developer Evergrande, which was said to have overstated revenues, the Associated Press reported. Hong Kong's accounting regulator on Thursday also announced a six-month ban on PwC from working for new clients and said it had issued a public reprimand to two of its former partners for misconduct, fining each of them a separate HK$5 million.
Hong Kong
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