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East Asia Bank
The Bank of East Asia Limited, often abbreviated to BEA, is a Hong Kong banking and financial services company, headquartered in Central, Hong Kong. It is currently the largest independent local Hong Kong bank, and one of two remaining family-run Hong Kong banks, with the other being Dah Sing Bank. It continues to be run by 3rd and 4th generation of the Li family. It was incorporated as a publicly-listed bank in Hong Kong on 14 November 1918, and officially opened for business on 4 January 1919, by a group of local Hong Kong Chinese businessmen who "not only understood modern banking, but the needs of modern Chinese business." Essentially, it aimed to serve local Hong Kong citizens and businesses who were currently underserved by the large British banks and small, unorganized, and often unincorporated local Hong Kong moneylenders. By the 1930s, BEA was considered the most influential local Hong Kong bank in the city. History Origins, and until 2008 BEA was co-founded in H ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Company
A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (listed company), which facilitates the trade of shares, or not (unlisted public company). In some jurisdictions, public companies over a certain size must be listed on an exchange. In most cases, public companies are ''private'' enterprises in the ''private'' sector, and "public" emphasizes their reporting and trading on the public markets. Public companies are formed within the legal systems of particular states, and therefore have associations and formal designations which are distinct and separate in the polity in which they reside. In the United States, for example, a public company is usually a type of corporation (though a corporation need not be a public company), in the United Kingdom it is usually a public limited company (plc), i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Four Big Families Of Hong Kong
The four big families of Hong Kong ()Sing Tao Daily. Section C-4 HR news. 7/31/2007. is a term used to describe the four business families who historically rose to prominence and became influential in Hong Kong. In order of influence, they are Li, Ho, Lo and Hui family. The founders of the original four families are Li Sek-peng (), Robert Ho Tung (), Hui Oi-chow () and Lo Cheung-shiu (). Of these families, the Lis and the Hos and their descendants are the two most recognized by regular Hong Kong citizens today. Families The families and their descendants are listed below. Each indentation represents one generation down, though not necessarily the next generation. Not all the descendants are shown. Most members of these families have reached tycoon status. Li family notables * Li Shek-pang (李石朋, 1863–1916) also known as Li Pui-choi (李佩材) – Originally from Guangdong ** Li Koon-chun (李冠春, 1887–1966) – Founder of Bank of East Asia, Director o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) is Hong Kong's central bank, central banking institution. It is a government authority founded on 1 April 1993 when the Office of the Exchange Fund and the Office of the Commissioner of Banking merged. The organisation reports directly to the Financial Secretary (Hong Kong), Financial Secretary. Responsibilities The exchange fund was established and managed originally by the Currency Ordinance in 1935, now named the Exchange Fund Ordinance. Under the Ordinance, the HKMA's primary objective is to ensure the stability of the Hong Kong currency, and the banking system. It is also responsible for promoting the efficiency, integrity and development of the financial system.Noel FungGovernment power over Exchange Fund's stability role under review, The Standard (Hong Kong), The Standard, 18 November 1997 The HKMA issues Banknotes of the Hong Kong dollar, banknotes only in the denomination of ten Hong Kong dollars. The role of issuing other bankn ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joseph Yam
Joseph Yam Chi-kwong, GBM, GBS, CBE, JP (任志剛; born 1948, Hong Kong) is a Hong Kong statistician, economist and civil servant. He was the first Chief Executive of the Hong Kong Monetary Authority, Hong Kong's ''de facto'' central bank, holding the position for 16 years. In 2011 Yam was elected to a member of the board of directors of the Swiss Bank UBS AG. In 2014, following UBS AG's restructuring, he was appointed to the board of directors of the UBS Group AG and served in the position till May 2017. He has been a member of the Corporate Culture and Responsibility Committee and the Risk Committee of the UBS Group AG since 2011 and a non-official member of the Executive Council of Hong Kong since 2017. Education Joseph Yam graduated from the University of Hong Kong in economics, social sciences and statistics with first class honors in 1970. Career Yam joined the Government of Hong Kong as a statistician in 1971 and became an economist in 1976. Subsequently, in 1982, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Adequacy Ratio
Capital Adequacy Ratio (CAR) is also known as ''Capital to Risk (Weighted) Assets Ratio'' (CRAR), is the ratio of a bank's capital to its risk. National regulators track a bank's CAR to ensure that it can absorb a reasonable amount of loss and complies with statutory Capital requirements. It is a measure of a bank's capital. It is expressed as a percentage of a bank's risk-weighted credit exposures. The enforcement of regulated levels of this ratio is intended to protect depositors and promote stability and efficiency of financial systems around the world. Two types of capital are measured: tier one capital, which can absorb losses without a bank being required to cease trading, and tier two capital, which can absorb losses in the event of a winding-up and so provides a lesser degree of protection to depositors. Formula Capital adequacy ratios (CARs) are a measure of the amount of a bank's core capital expressed as a percentage of its risk-weighted asset. Capital adequacy rat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First Pacific Bank
First Pacific Bank Limited was a bank based in Hong Kong. It was a wholly owned subsidiary of the investment holding company FPB Bank Holding Company Limited (FPB Bank Holdco). Its headquarters were in the First Pacific Bank Centre in Wan Chai.Company Profile " First Pacific Bank. 22 November 2000. . " First Pacific Bank Limited. 17 June 2000. "Principal Office: 22/F, First Pacific Bank Centre 56 Gloucester Road Hong Kong" The company's major shareholders were First Pacific Company Limited (FP Company) and MIMET FOTIC Investment Limited (MIMET FOTIC). The company was incorporated in |
Sino-British Joint Declaration
The Sino-British Joint Declaration is a treaty between the governments of the United Kingdom and China signed in 1984 setting the conditions in which Hong Kong was transferred to Chinese control and for the governance of the territory after 1 July 1997. Hong Kong had been a colony of the British Empire since 1842 after the First Opium War and its territory was expanded on two occasions; first in 1860 with the addition of Kowloon Peninsula and Stonecutters Island, and again in 1898 when Britain obtained a 99-year lease for the New Territories. The date of the handover in 1997 marked the end of this lease. The Chinese government declared in the treaty its basic policies for governing Hong Kong after the transfer. A special administrative region would be established in the territory that would be self-governing with a high degree of autonomy, except in foreign affairs and defence. Hong Kong would maintain its existing governing and economic systems separate from that of main ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hang Seng Bank
Hang Seng Bank Limited () is a Hong Kong-based banking and financial services company with headquarters in Central, Hong Kong. It is one of Hong Kong's leading public companies in terms of market capitalisation and is part of the HSBC Group, which holds a majority equity interest in the bank. Hang Seng Bank is a commercial bank whose major business activities include retail banking, wealth management, commercial banking, treasury services, and private banking. Hang Seng Bank operates a network of around 260 service outlets in Hong Kong. It also has a wholly owned subsidiary in mainland China, Hang Seng Bank (China) Limited which has a network of 46 branches and sub branches. It established the Hang Seng Index as a public service in 1969 and this stock market index is now generally known as the primary indicator of the Hong Kong stock market. History In 1933, business partners Lam Bing Yim ( 林炳炎), Ho Sin Hang ( 何善衡), Sheng Tsun Lin ( 盛春霖), and Leung Chi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Run
A bank run or run on the bank occurs when many clients withdraw their money from a bank, because they believe the bank may cease to function in the near future. In other words, it is when, in a fractional-reserve banking system (where banks normally only keep a small proportion of their assets as cash), numerous customers withdraw cash from deposit accounts with a financial institution at the same time because they believe that the financial institution is, or might become, insolvent; they keep the cash or transfer it into other assets, such as government bonds, precious metals or gemstones. When they transfer funds to another institution, it may be characterized as a capital flight. As a bank run progresses, it may become a self-fulfilling prophecy: as more people withdraw cash, the likelihood of default increases, triggering further withdrawals. This can destabilize the bank to the point where it runs out of cash and thus faces sudden bankruptcy. To combat a bank run, a bank ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chinese Civil War
The Chinese Civil War was fought between the Kuomintang-led government of the Republic of China and forces of the Chinese Communist Party, continuing intermittently since 1 August 1927 until 7 December 1949 with a Communist victory on mainland China. The war is generally divided into two phases with an interlude: from August 1927 to 1937, the KMT-CCP Alliance collapsed during the Northern Expedition, and the Nationalists controlled most of China. From 1937 to 1945, hostilities were mostly put on hold as the Second United Front fought the Japanese invasion of China with eventual help from the Allies of World War II, but even then co-operation between the KMT and CCP was minimal and armed clashes between them were common. Exacerbating the divisions within China further was that a puppet government, sponsored by Japan and nominally led by Wang Jingwei, was set up to nominally govern the parts of China under Japanese occupation. The civil war resumed as soon as it bec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Japanese Occupation Of Hong Kong
The Imperial Japanese occupation of Hong Kong began when the Governor of Hong Kong, Mark Aitchison Young, Sir Mark Young, surrendered the British Crown colony of British Hong Kong, Hong Kong to the Empire of Japan on 25 December 1941. The surrender occurred after Battle of Hong Kong, 18 days of fierce fighting against the overwhelming Imperial Japanese Army, Japanese forces that had invaded the territory.Snow, Philip. [2004] (2004). The fall of Hong Kong: Britain, China and the Japanese occupation. Yale University Press. , .Mark, Chi-Kwan. [2004] (2004). Hong Kong and the Cold War: Anglo-American relations 1949–1957. Oxford University Press publishing. , . p 14. The occupation lasted for three years and eight months until Surrender of Japan, Japan surrendered at the end of the World War II, Second World War. The length of this period (, ) later became a metonym of the occupation. Background Imperial Japanese invasion of China During the Imperial Japanese military's Second ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Second Sino-Japanese War
The Second Sino-Japanese War (1937–1945) or War of Resistance (Chinese term) was a military conflict that was primarily waged between the Republic of China and the Empire of Japan. The war made up the Chinese theater of the wider Pacific Theater of the Second World War. The beginning of the war is conventionally dated to the Marco Polo Bridge Incident on 7 July 1937, when a dispute between Japanese and Chinese troops in Peking escalated into a full-scale invasion. Some Chinese historians believe that the Japanese invasion of Manchuria on 18 September 1931 marks the start of the war. This full-scale war between the Chinese and the Empire of Japan is often regarded as the beginning of World War II in Asia. China fought Japan with aid from Nazi Germany, the Soviet Union, United Kingdom and the United States. After the Japanese attacks on Malaya and Pearl Harbor in 1941, the war merged with other conflicts which are generally categorized under those conflicts of World War II a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
