Manager Inter-Office Trading

Top Chinese economist Ba Shusong reportedly detained amid growing financial sector purge. Reports that prominent Chinese economist Ba Shusong was snatched up by authorities have fueled speculation of an expanding crackdown within China's financial sector Published: March 26, 2026 By Li Deyan, Vision Times Recent reports suggest that prominent Chinese economist Ba Shusong, former managing director and chief China economist at the Hong Kong Exchanges and Clearing Limited (HKEX), was "taken away by authorities" for questioning. The development comes on the heels of Zhou Liang's official downfall, a senior financial regulator and longtime aide to former anti-corruption chief Wang Qishan, prompting speculation that Beijing's ongoing crackdown in the financial sector may also carry political implications for China's ruling elite. On March 26, Chinese media outlet Tencent's Greater Bay Area Economic Network reported that Ba Shusong had suddenly lost contact and was suspected of being under detention. Whereabouts unknown. For the best of its weekly content! Ba's last post on the Chinese social media platform Weibo was published at 10 a.m. on March 11, 2026. His last known public appearance took place on Oct. 22, 2025, when he attended the "China Opportunity Forum" in Shanghai in his capacity as managing director of HKEX and chief China economist. Several sources told the Chinese financial publication Economic Observer that Ba was likely taken away around March 12 and has remained out of reach since then. According to individuals familiar with the matter, the investigation may be related to an alleged illegal fundraising case linked to one of Ba's former students. Sources also said Ba had already been subject to travel restrictions for at least six months prior to his disappearance. In January, he participated remotely in a forum held in Macau via video address. A financial industry insider told Economic Observer that Ba had been listed as a participating expert at an event organized by China's banking industry on March 17 under the title of chief economist of the China Banking Association, but he ultimately did not appear at the event. A tangled web. According to Tencent Finance, Ba also served as a doctoral advisor at a Chinese university. People familiar with his academic circles noted that he had stopped posting messages in a doctoral student group chat since mid-March, despite previously sharing information frequently. Reports circulating online have also claimed that Ba's wife may have also been taken away for questioning. Meanwhile, HKEX's 2025 annual report, published in March 2026, no longer lists Ba Shusong among its management team. According to the Chinese outlet National Business Daily, Ba had already left the Hong Kong Exchange at the end of 2025, having served in a non-full-time advisory role before his departure. Ba, born in 1969 in Wuhan's Xinzhou district of Hubei Province, has long been a prominent figure in China's financial policy circles. He holds a bachelor's degree in engineering and a master's degree in economics from Huazhong University of Science and Technology, as well as a doctorate in economics from the Central University of Finance and Economics. He has also served as a senior visiting scholar at Columbia Business School in the United States. Throughout his career, Ba held several influential positions, including professor at Peking University's HSBC Business School, executive director and senior advisor at the HSBC Financial Research Institute, chief economist of the China Banking Association, and managing director and chief China economist at HKEX. Financial sector purge. Ba's reported detention comes amid a series of investigations targeting officials in China's financial regulatory system. On March 24, Chinese authorities officially announced that Zhou Liang, a vice minister-level official and deputy director of the National Financial Regulatory Administration, had been placed under investigation. Zhou previously served for nearly two decades as a close aide to Wang Qishan, who led China's sweeping anti-corruption campaign after Xi Jinping came to power. U.S.-based political commentator Cai Shenkun wrote on the social media platform X on March 25 that Ba Shusong had actually been taken away before Zhou Liang, citing reports from Hong Kong media indicating that Ba had since gone missing. Cai suggested that Ba's case could be linked to the broader purge of financial officials. According to him, Ba had long been valued by Wang Qishan and had handled significant financial matters on Wang's behalf. "Wang Qishan treated Zhou Liang like a son, and Zhou's abilities were deeply appreciated by him," Cai wrote, adding that Wang had reportedly pleaded with Xi Jinping on Zhou's behalf twice but was ultimately unable to prevent Zhou's investigation. "Xi Jinping has shown no mercy toward Wang Qishan - mainly because he fears him." Other observers have echoed similar speculation. On March 25, political commentator "New Highland" wrote on X that Chinese leader Xi Jinping has historically shown little tolerance for potential rival networks within the Chinese Communist Party (CCP). "Whether former allies or political contributors, once they form independent networks they become potential threats," the commentator wrote. "Wang Qishan once helped Xi consolidate power, but because he possesses extensive information and connections, he has gradually become a target of systematic political pruning." According to that analysis, Zhou Liang had been one of Wang Qishan's last key representatives within China's financial regulatory system. His investigation, therefore, may effectively sever Wang's remaining influence in that sector. The successive investigations of figures linked to Wang Qishan, including Zhou Liang and the reported detention of Ba Shusong, have fueled growing speculation among analysts that political tensions within China's financial and policy circles may be intensifying. Editorial note: This article is based on publicly circulating reports and commentary from independent analysts. The claims described have not been independently verified by Vision Times, and relevant authorities have not publicly confirmed the allegations.

HKEX Foundation launches Care for Caregivers Programme. Updated: 09 Mar 2026 HKEX Foundation, the charitable foundation of Hong Kong Exchanges and Clearing Limited (HKEX), today (Monday) launched its flagship Care for Caregivers Programme to champion the well-being of caregivers across Hong Kong. Through cross-sector collaboration, the Foundation is committed to empowering caregivers, enhancing their quality of life, and fostering a more inclusive society for all. The launch ceremony was hosted at HKEX Connect Hall, with Secretary for Labour and Welfare Chris Sun, HKEX Chairman Carlson Tong, and HKEX Group General Counsel and Group Chief Sustainability Officer Paul Chow officiating the event. Distinguished guests included Director of Social Welfare Edward To, and Commissioner for Rehabilitation Winnie Kang. The Care for Caregivers Programme is a strategic initiative designed to support the community's unsung heroes - the caregivers who look after family members who are elderly, disabled, chronically ill or have special educational needs. The Programme aims to empower and recognise caregivers, strengthen institutional support, and contribute to positive societal change across Hong Kong. HKEX Chairman, Carlson Tong, said: "Caregivers are the quiet backbone of our society, holding families and communities together. Through the HKEX Foundation's Care for Caregivers Programme, we are leveraging our role as a superconnector to bring policymakers, NGOs, social enterprises, corporates, academics and healthcare professionals together in support of these important members of our community. This initiative reflects our commitment to mobilising resources and partnerships to drive lasting impact - in our markets and beyond - so caregivers receive the recognition and support they deserve." HKEX Group General Counsel and Group Chief Sustainability Officer, Paul Chow, said: "At HKEX, we recognise the profound challenges faced by caregivers. By deepening our commitment, we are moving beyond awareness to deliver tangible and impactful solutions. Through strategic partnerships, community empowerment, and as part of Hong Kong's corporate community, we aim to lead by example in fostering a more caring and supportive environment for caregivers." The Programme operates on two key fronts to support caregivers at the community level. First, the Programme will form Caregivers Community Support Teams - operated by various local NGOs - that will focus on serving high-risk families and neighbourhoods, providing family-centred case management, outreach services, emergency assistance, and guidance for long-term care planning. In addition, as part of a pilot initiative in collaboration with Link Asset Management Limited, two new community facilities will be launched at Shun Lee Commercial Centre in Kwun Tong. With plans to expand to other districts, these facilities will help identify caregivers and connect them with support services. They will also serve as venues for group sharing and physical and cognitive health assessments, alongside well-being programmes such as tailored fitness classes and social activities to promote active lifestyles and encourage mental agility. The Programme is also supporting the Labour and Welfare Bureau and the Social Welfare Department in its pilot rollout of the Intelligent Accident Detection System, which involves installing smart devices to enable prompt identification of accidents and emergencies for at least 300 high-risk carer households, including those with elderly persons or persons with disabilities. The programme seeks to achieve real-time detection, early intervention and prompt assistance of accidents taking place at home, thereby providing greater peace of mind for caregivers. To encourage more local businesses to support caregivers, HKEX Foundation is delighted to partner with CarerEPS, a platform led by social welfare organisations that connects caregivers with essential information and services. Together, they will broaden the reach of the Caregiver Friendly Merchant Awards, which recognise merchants and organisations that demonstrate exceptional commitment and meaningful assistance to supporting caregivers. This year, around 40 outstanding companies are being honoured for their commitment to supporting caregivers. As a purpose-driven organisation, HKEX established its Foundation in 2020 to address existing and emerging societal challenges through community initiatives and strategic partnerships. By the end of 2025, HKEX Foundation had contributed over HK$635 million, supporting more than 150 projects across Hong Kong to create meaningful impact where it matters most. HKEX Foundation Care for Caregivers Programme highlights: Community Support * Community Facilities: Community facilities will be established at Shun Lee Commercial Centre in Kwun Tong in partnership with Link, with additional locations planned for other districts moving forward. The facilities are scheduled to launch in Q2 2026, consolidating information on caregiver support services and promoting wellness activities, from health checks to fitness exercise classes. * Community Outreach: Establishing Caregivers Community Support Teams to provide caregiver case management including outreach services, emergency support, and guidance for long-term care planning. * Intelligent Accident Detection System: Funding Labour and Welfare Bureau's initiative to implement intelligent accident detection system in high-risk households with elderly and disabled persons. * CarerEPS Platform: Expanding the one-stop platform CarerEPS to connect more caregivers with essential resources and peer support. Caregiver-Friendly Workplace * Partnering with two NGOs to develop promotional and service support programme for around 100 companies, comprising both listed and non-listed companies, including small-to-medium businesses. * Support programme to provide guidance and emotional support to help workplace caregivers navigate their caregiving journey, with personalised case management for employees with care-planning needs. Policy and Cultural Advocacy * Engaging Its Hong Kong Foundation to conduct programme impact assessments, benchmark against international practices, and promote cross-sector dialogue to enhance Hong Kong's policy framework. Secretary for Labour and Welfare Chris Sun (third from left), HKEX Chairman Carlson Tong (third from right), HKEX Group General Counsel and Group Chief Sustainability Officer Paul Chow (second from right), Director of Social Welfare Edward To (second from left), Commissioner for Rehabilitation Winnie Kang (first from left), and HKEX Head of Corporate Responsibility and Foundation Andy Lau (first from right), officiated the launch ceremony of the HKEX Foundation Care for Caregivers Programme. The launch ceremony of the HKEX Foundation Care for Caregivers Programme also included the presentation of the CarerEPS Platform's Caregiver Friendly Merchant Awards. Approximately 40 outstanding companies are being honoured this year. The launch ceremony featured a panel discussion on fostering a caregiver-friendly city. Participants included (from second left to right) Manulife Hong Kong & Macau Chief Operations Officer Carrie Tong, Legislative Council Member (Functional Constituency - Social Welfare) & Hong Kong Council of Social Service Chief Executive Hon Grace Chan, Saint Francis University Caregiving Research and Development Centre Director & Felizberta Lo Padilla Tong School of Social Science Research Prof. Alice Chong, and Its Hong Kong Foundation Limited Assistant Research Director Dicky Chow. The discussion was moderated by HKEX Group General Counsel and Group Chief Sustainability Officer Paul Chow (first from left). About HKEX Hong Kong Exchanges and Clearing Limited (HKEX) is a publicly-traded company (HKEX Stock Code: 388) and one of the world's leading global exchange groups, offering a range of equity, derivative, commodity, fixed income and other financial markets, products and services, including the London Metal Exchange. As a superconnector and gateway between East and West, HKEX facilitates the two-way flow of capital, ideas and dialogue between China and the rest of the world, through its pioneering Connect schemes, increasingly diversified product ecosystem and its deep, liquid and international markets. HKEX is a purpose-led organisation which, across its business and through the work of HKEX Foundation, seeks to connect, promote and progress its markets and the communities it supports for the prosperity of all.

Hong Kong exchange launches first self-developed tech Stock index. The Hong Kong Stock Exchange. Photo: IC Photo Hong Kong Exchanges and Clearing Ltd. (HKEX) on Tuesday launched the HKEX Tech 100 Index, a new benchmark that tracks the performance of 100 of the largest technology companies listed in the city by market value. The index marks the bourse's first independently developed Hong Kong equity benchmark as it seeks to expand its index business. HKEX also announced an agreement with E Fund Management Co. Ltd. authorizing the firm to launch a Chinese mainland-listed exchange-traded fund (ETF) that will track the new index. Unlock exclusive discounts with a Caixin group subscription - ideal for teams and organizations. * HKEX launched the Tech 100 Index, tracking 100 top tech firms in Hong Kong across six tech themes, with a base value of 10,000 points in Dec 2020, now at 8,129. * E Fund Management was authorized to launch a mainland-listed ETF tracking the index, all constituents eligible for Stock Connect. * Hong Kong's ETF market saw a record average daily turnover of HK$37.8 billion in the first three quarters, up 145% year-on-year. * Hong Kong Exchanges and Clearing Ltd. - Hong Kong Exchanges and Clearing Ltd. (HKEX) launched the HKEX Tech 100 Index, its first independently developed Hong Kong equity benchmark. This index tracks the top 100 technology companies listed in Hong Kong by market value. HKEX also partnered with E Fund Management to launch an ETF in mainland China that tracks this new index, facilitating mainland investor access to Hong Kong's tech sector. * E Fund Management Co. Ltd. - E Fund Management Co. Ltd. (易方达基金管理有限公司) has partnered with Hong Kong Exchanges and Clearing Ltd. (HKEX). HKEX authorized E Fund to launch a Chinese mainland-listed exchange-traded fund (ETF) that will track the newly introduced HKEX Tech 100 Index. E Fund was the first to express interest and secure this authorization. * December 31, 2020: - The base value of the HKEX Tech 100 Index was set at 10,000 points. * In the first three quarters of 2025: - The average daily turnover of exchange-traded products in Hong Kong reached HK$37.8 billion ($4.9 billion), a 145% increase from the previous year. * December 9, 2025: - Hong Kong Exchanges and Clearing Ltd. (HKEX) launched the HKEX Tech 100 Index, a new benchmark tracking the performance of the largest 100 technology companies listed in Hong Kong. * December 9, 2025: - HKEX announced an agreement with E Fund Management Co. Ltd. to authorize the firm to launch a Chinese mainland-listed ETF that will track the new index. * As of noon December 9, 2025: - The HKEX Tech 100 Index stood at 8,129 points. Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.