{
  "id": 5514264,
  "title": "Hong Kong’s 106 billionaires, Treasury yields hit recent highs: the numbers moving markets",
  "url": "https://urgent.news/2026/09/04/hong-kongs-106-billionaires-treasury-yields-hit-recent-highs-the",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-04T07:00:16.000Z",
  "source": {
    "name": "SCMP Business",
    "slug": "scmp-business",
    "url": "https://www.scmp.com/business/markets/article/3366336/hong-kongs-106-billionaires-treasury-yields-hit-recent-highs-numbers-moving-markets"
  },
  "original_language": "en",
  "account": "China's foreign-exchange regulator recently granted new quotas for mutual funds, insurers, and banks' wealth-management units, allowing them to invest in overseas assets. As a result, US$6.84 billion in new quotas were approved by the end of August for these institutions. Notably, 18 money managers, including China Asset Management and GF Fund Management, received US$100 million each, while more than 20 Chinese banks' wealth-management units received quotas for the first time.\n\nHong Kong remains the world's second-largest hub for billionaires, with 106 billionaires, trailing only New York, which has 164, according to wealth data provider Altrata. The city's billionaire population is bolstered by wealth creation from the AI boom, as Beijing and Shenzhen also rank among the world's 15 cities with the most billionaires.\n\nIn financial markets, the US 10-year Treasury yield hit a 20-month high of 4.78 per cent on Tuesday, reflecting concerns over the country's fiscal outlook and prompting investors to sell government debt. US Treasury Secretary Scott Bessent assured G20 finance ministers that Washington was a leader in addressing sovereign debt problems in emerging markets. Additionally, benchmark yields in Japan and the UK have climbed to multi-decade highs.\n\nChina's National Social Security Fund has reached a record US$86 billion in offshore assets, more than doubling its investments in three years. The fund allocated 15.23 per cent of its total assets to offshore investments by the end of 2025, seeking higher returns through greater exposure to overseas markets.",
  "summary": "China has been expanding its outbound-investment channels, with a new quota granted and greater overseas allocation by the nation’s pension fund. However, the financial world beyond the mainland is seeing volatility as US bond yields hit 20-month highs. Here are some of the figures that have drawn the most market attention this week. US$6.84 billion in new quotas for mutual funds China’s…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "SCMP Business",
        "title": "Hong Kong poised to top New York, London in finance-hub ranking: GFCI creator",
        "url": "https://urgent.news/2026/09/03/hong-kong-poised-to-top-new-york-london-in-finance-hub-ranking-gfci",
        "published": "2026-09-03T23:00:08.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}