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New research from KPMG China and GS1 Hong Kong highlights three key priorities for retailers: building trust in AI, delivering market-specific strategies for the growing silver economy, and strengthening brand confidence across Hong Kong and other cities in the Greater Bay Area

HONG KONG SAR – Media OutReach Newswire – 4 November 2026 – Consumer confidence in artificial intelligence is rising across Hong Kong and other cities in the Greater Bay Area (GBA), but new research from KPMG China and GS1 Hong Kong shows that retailers will need markedly different strategies to convert that confidence into growth. While consumers in other GBA cities show greater openness to personalised experiences and Chinese Mainland brands, Hong Kong consumers place more emphasis on value for money.

The Growth Reimagined: Building Consumer Trust in the AI Era report identifies three themes which have emerged as a roadmap for future growth:

• Trusted AI builds consumer confidence: AI can enhance personalisation and speed up service delivery, but privacy, accuracy, transparency and a human touch will determine consumer adoption.
• Silver shoppers diverge by market: To capture the growing silver economy, brands must prioritise price in Hong Kong, and brand reputation and engaging experiences in other GBA cities.
• The low-cost-only label no longer fits Chinese Mainland brands: Their advances in quality and innovation are forcing competitors to rethink where future brand advantage will come from.

AI trust is rising but a transparency gap persists, creating new opportunities for growth

Trust in AI has risen significantly since last year’s survey. In Hong Kong, 48% of consumers now trust AI at least somewhat, up from 28%, while trust in other GBA cities has increased from 59% to 76%. Yet growing trust has not translated into the same willingness to share personal data: just 10% of Hong Kong consumers who trust AI are comfortable doing so, compared with 32% in other GBA cities.

The difference in AI trust between Hong Kong and other GBA cities is particularly pronounced among silver shoppers, defined in the report as consumers aged above 55. Just 38% of Hong Kong silver shoppers trust AI, compared with 76% in other GBA cities, underscoring the challenge retailers face in building AI confidence among older Hong Kong consumers.

To bridge this gap, retailers in Hong Kong need to demonstrate clear value before asking consumers to share more data, while providing transparency and control over how their data is used. Consumer confidence should extend across the entire retail journey: from payment and product authenticity to returns and customer support. AI should help consumers find what they need more easily, while maintaining accuracy, fairness and access to human support.

Anna Lin, Chief Executive, GS1 Hong Kong, says: “AI is increasingly shaping how consumers discover and evaluate products, and it tends to recommend those backed by data it can readily interpret and trust. Businesses with trusted, standardised product data that is structured for machines to understand and use and traceable to an identifiable source will be best positioned to earn consumer confidence and influence future purchasing decisions.”

The silver economy is not a single consumer market

Across all age groups, value remains a priority for 73% of Hong Kong consumers, compared with 45% in other GBA cities.

When asked to describe their shopping style, 57% of silver shoppers in Hong Kong identify primarily as value shoppers, compared with only 23% in other GBA cities, where brand reputation, at 37%, and shopping experience, at 27%, emerge as their leading considerations.

The findings suggest that age alone is not enough to define the silver shoppers. Retailers looking to capture the opportunities created by the region’s ageing population will need to understand how expectations differ by market, and develop propositions that reflect those differences.

Alice Yip, Partner, Head of Consumer & Retail, Hong Kong SAR, KPMG China, says: “Growth in the silver economy depends on recognising that shoppers’ priorities differ across markets. Hong Kong’s silver shoppers prioritise competitive prices, while those in other GBA cities place greater emphasis on brand reputation and shopping experiences. Capturing this opportunity involves understanding what matters locally and tailoring the retail offer accordingly, rather than treating the silver economy as one uniform market.”

Chinese Mainland speed raises the stakes for Hong Kong and global brands

Chinese Mainland brands are emerging as a stronger force in innovation and speed. In other GBA cities, that progress is already reflected in consumer perceptions: 64% choose them for value for money, 58% for safety and reliability and 50% for brand reputation.

In Hong Kong, however, they are still seen primarily through the lens of value. While 81% of consumers choose Chinese Mainland brands for value for money, fewer cite safety and reliability (39%), higher quality (33%) or brand reputation (31%). Their next opportunity is to turn Chinese Mainland speed and improving quality into stronger brand confidence.

Hong Kong brands retain a clear advantage in trust. Consumers in Hong Kong (74%) and other GBA cities (61%) cite safety and reliability as the leading reason for choosing Hong Kong brands. Among Hong Kong consumers, preference for Hong Kong brands is particularly strong in airlines (78%) and food and beverages (71%).

But trust cannot be taken for granted. As Chinese Mainland brands strengthen their safety and reliability credentials, Hong Kong brands will need to combine their reputation for reliability with greater innovation, sharper value and faster execution.

Anson Bailey, Head of Consumer & Retail, Asia Pacific, KPMG China, says: “Any brand that still sees Chinese Mainland competitors as a low-cost threat is looking in the rear-view mirror. Chinese Mainland speed is now producing better products, sharper design and faster innovation at a scale few markets can match. The real shift is that Chinese Mainland brands are learning to build brand equity at the same pace as they have built scale through value and speed. This is increasingly influencing who can win – not only in the GBA, but in consumer markets worldwide.”

Hashtag: #KPMG #GS1HongKong

The issuer is solely responsible for the content of this announcement.

About KPMG

KPMG in China has offices located in 31 cities with over 14,000 partners and staff, in Beijing, Changchun, Changsha, Chengdu, Chongqing, Dalian, Dongguan, Foshan, Fuzhou, Guangzhou, Haikou, Hangzhou, Hefei, Jinan, Nanjing, Nantong, Ningbo, Qingdao, Shanghai, Shenyang, Shenzhen, Suzhou, Taiyuan, Tianjin, Wuhan, Wuxi, Xiamen, Xi’an, Zhengzhou, Hong Kong SAR and Macau SAR. It started operations in Hong Kong in 1945. In 1992, KPMG became the first international accounting network to be granted a joint venture licence in the Chinese Mainland. In 2012, KPMG became the first among the “Big Four” in the Chinese Mainland to convert from a joint venture to a special general partnership.

KPMG is a global organisation of independent professional services firms providing Audit, Tax and Advisory services. KPMG is the brand under which the member firms of KPMG International Limited (“KPMG International”) operate and provide professional services. “KPMG” is used to refer to individual member firms within the KPMG organisation or to one or more member firms collectively.

KPMG firms operate in 138 countries and territories with more than 276,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. Each KPMG member firm is responsible for its own obligations and liabilities.

About GS1 Hong Kong

GS1 Hong Kong is the local chapter of GS1®, a global, not-for-profit data standards organisation represented in over 120 countries. Through globally recognised standards such as GTIN (barcodes), we enable businesses to identify, capture and share trusted data across physical and digital supply chains, helping them accelerate digital transformation, access global markets, strengthen supply chain resilience and efficiency, and advance transparency, safety and sustainability.

Building on global data standards, GS1 Hong Kong provides solutions including ezTRADE for B2B data exchange, ezTRACK for supply chain traceability, and 1QR, powered by GS1 Digital Link, connecting 2D barcodes to rich product information such as certifications and sustainability data.

The trusted data infrastructure also supports emerging business needs, from trade finance to Scope 3 emissions reporting and ESG compliance. In an AI-driven economy, we provide the foundation for high-quality data that is accurate, visible, linkable, searchable, shareable and traceable.

GS1 Hong Kong supports close to 8,000 corporate members across 20 sectors, including retail and consumer goods, food and beverage, healthcare, apparel and footwear, logistics and ICT.

Website: www.gs1hk.org

By Nitya Chakraborty The results of the U.S. midterm elections are going to have big impact not only on the current administration of President Donald Trump, but also on the latest political situation in Latin America, Europe and even in India. At global level, Trump’s big defeat is a boost to the forces in different […]

The article U.S. Mid Term Result Is A Clear Verdict Against Trump’s Authoritarianism appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

The seed round scales mamun’s capital infrastructure for trade finance along the Greater Bay Area – Oman – UAE corridor — anchored in Muscat, Abu Dhabi and Hong Kong SAR.

MUSCAT, ABU DHABI/HONG KONG SAR – Media OutReach Newswire – 4 November 2026 – mamun, the Sharia-compliant platform building capital infrastructure for trade finance, has raised a US$3 million seed round led by Phaze Ventures through its Oman Fund, with participation from Jasoor Ventures.

An exporter in Muscat ships today and gets paid in 60 to 90 days. Banks rarely bridge that gap, as they usually rely on a long financial track record that many small exporters find hard to provide. The Asian Development Bank puts the global trade finance gap at US$2.5 trillion, and 41% of SME trade finance applications are turned down.

mamun’s AI-native underwriting assesses the company behind the trade, alongside the shipment itself: the contract, the buyer, the trade documents and the trading history between them. Its origination engine finds and screens that trade as it forms. Then investors on the platform finance the gap.

The hard part is the border. A cross-border transaction spans two regulators, two banking systems and two legal regimes, with settlement that has to land in another jurisdiction on time, and the collateral is in motion, travelling with the goods along the route.

That complexity is why most of the region’s financing platforms have stayed domestic, and it is mamun’s moat. The platform was built across the corridor: an FSA-regulated home and origination base in Muscat; Abu Dhabi for Gulf capital and UAE flows; and Hong Kong SAR, the financing gateway of the Belt and Road Initiative, for the Greater Bay Area and the Gulf–Asia trade routes.

Roughly 40% of the platform’s trade finance settlements already clear through Hong Kong-based financial institutions and businesses.

mamun’s licence sits within the FSA’s crowdfunding framework, which allows the platform to bring in investors from inside and outside the Sultanate, and to finance companies inside and outside the Sultanate, subject to the platform’s eligibility criteria and the laws applicable in each investor’s country.

The corridor is growing. Oman’s non-oil exports ran about 10% higher year-on-year through the first seven months of 2026 and re-exports 13.6% higher, with the UAE its largest non-oil trading partner. New corridors bring new counterparties: businesses trading together for the first time, with no shared history for a lender to underwrite against.

The round brings together capital from Oman and the UAE: Phaze Ventures invests through its Oman Fund, dedicated to homegrown, AI-enabled Omani businesses, and Jasoor Ventures is an early-stage venture capital firm backing technology founders across the Middle East, North Africa, and Turkey.

The US$3 million will scale that AI-native origination and underwriting, growing the volume of trade the platform can originate, assess and finance along the Greater Bay Area – Oman – UAE corridor. It is where the industry is heading: 84% of banks in the Asian Development Bank’s January 2026 survey already apply AI to trade finance risk. mamun was built that way from origination onward.

mamun was founded by Saleh Al Tamami, Co-Founder & CEO, Mohammed Al Tamami, Co-Founder & Chief Commercial Officer, and Ahmed Al-Issaei, Co-Founder & CTO, and was named a Rising Star on the Deloitte Technology Fast 50 Middle East 2025, ranking 26th.

This announcement is for information only and does not constitute an offer or invitation to invest. mamun is not licensed by the Securities and Futures Commission of Hong Kong (SFC).

Hashtag: #mamun

The issuer is solely responsible for the content of this announcement.

ABOUT mamun

mamun builds capital infrastructure for trade finance. The platform is Sharia-compliant, licensed and regulated by the Financial Services Authority of Oman (FSA Licence CMI051). This licence covers the Omani entity only. The group also has entities in Abu Dhabi and Hong Kong SAR. It connects businesses and investors to finance cross-border trade — exports, imports and the working capital that moves goods between markets.

ABOUT PHAZE VENTURES

Founded in 2018, Phaze Ventures is Oman’s oldest private venture capital firm. Headquartered in Oman, with a presence in Saudi Arabia and the UAE, it backs early-stage AI and deeptech companies globally and homegrown technology businesses through the Oman Fund.

ABOUT JASOOR VENTURES

Jasoor Ventures, meaning “courageous” in Arabic, is an ADGM-based venture capital firm, investing across the Middle East, North Africa, and Turkey.

By Ashok Nilakantan Ayers WASHINGTON: America enters Election Day on Tuesday, November 3, with its political temperature rising and its institutional balance of power hanging in the balance. The midterm elections, ordinarily a referendum on the party occupying the White House, have become something more consequential: a test of Donald Trump’s political authority, the Republican […]

The article America On Edge: November 3 Mid Term Polls Outcome May Weaken Trump appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

Empowering Global Collections and Payments for Foreign Trade Enterprises

HONG KONG SAR – Media OutReach Newswire – 3 November 2026 — XTransfer, the world’s leading B2B cross-border trade payment platform, and Bank of China (Hong Kong) (“BOCHK”) are pleased to announce the signing of a cooperation agreement. The two parties will work together to expand their international business, providing one-stop cross-border financial services, including global collections, payments, and foreign exchange, for enterprises engaged in international trade in Hong Kong and around the world.

Coinciding with Hong Kong FinTech Week 2026, Mr Martin Liu, Vice President of XTransfer and Ms Winnie Fan, Deputy General Manager of the Global Corporate Banking Department of BOCHK, officially signed the cooperation agreement at the XTransfer booth, witnessed by Mr Bill Deng, Founder and CEO of XTransfer and Mr Liu Chao, General Manager of the Global Corporate Banking Department of BOCHK, marking a new stage in the partnership between the two parties.

Under this cooperation, XTransfer and BOCHK will collaborate in depth across business areas including global collections, payments, and foreign exchange. Leveraging BOCHK’s professional capabilities in cross-border settlement and foreign exchange trading, as well as its unique position as the RMB clearing bank in Hong Kong, combined with XTransfer’s self-built globally unified B2B cross-border settlement network and risk management system, the two parties will jointly create an efficient, lower-cost, and compliant fund collection, payment, and currency exchange experience for foreign trade enterprises. Under this cooperation model, XTransfer is the first corporate partner of BOCHK.

As the cooperation progresses, foreign trade enterprises in Hong Kong and around the world will be able to access global cross-border collection, payment, and foreign exchange services more conveniently, meeting their multi-currency transaction and settlement needs across different markets. Both parties expect that by reducing the handover points in cross-border transaction processes, they can enhance the service experience and capital turnover efficiency, helping enterprises seize global trade opportunities more flexibly.

This cooperation also reflects XTransfer’s continuously deepening Financial Institution Partnership Model. Financial institution partners can act as “Co-builders“, providing cross-border collection, payment, and foreign exchange capabilities; at the same time, through XTransfer’s network covering over one million business customers, they can reach more enterprise customer segments with cross-border financial service needs, achieving complementary capabilities and shared strengths.

Mr Bill Deng, Founder and CEO of XTransfer, said, “We are very honored to sign the cooperation agreement with BOCHK during Hong Kong FinTech Week. BOCHK is one of Hong Kong’s most representative banks, with deep expertise in cross-border settlement and foreign exchange services. This cooperation combines the strengths of both parties, enabling SMEs to enjoy cross-border financial services of the same standard as large multinational corporations. Going forward, we will continue to refine our compliance and risk control capabilities and work with more financial institution partners to build trustworthy cross-border financial infrastructure.”
Hashtag: #XTransfer #BOCHK #Partnership #Crossborder #Payment #SMEs

https://www.xtransfer.com
https://www.linkedin.com/company/xtransfer.cn

The issuer is solely responsible for the content of this announcement.

About XTransfer

XTransfer is the world’s largest B2B cross-border trade payment platform with over US$60 billion TPV in 2025, according to CIC. Founded in 2017 as one of the first payment platforms worldwide dedicated to B2B cross-border trade, we serve the largest customer base of over 1 million business customers globally.

We connect top-tier financial institutions directly to SMEs, the backbone of global trade, giving businesses of every size access to the same secure, compliant and seamless payment infrastructure once reserved for multinationals. As of March 31, 2026, we provide payment services across more than 200 countries and regions through partnerships with financial institutions, including some of the most established international banks around the world.

XTransfer has obtained required licenses in major hubs, including the Chinese Mainland, Hong Kong SAR, the United Kingdom, the United States, Singapore, the Netherlands, Australia and Canada.

For more information, please visit: https://www.xtransfer.com

Katayama said Tokyo would continue operating under its existing understanding with Washington regardless of the election outcome, maintaining a common commitment to orderly foreign exchange markets while each government pursues its own economic objectives.

“We issued a joint statement together, and we will act in line with that,” she told a regular news conference. “If there are disorderly moves or excessive speculative movements, we will take action.”

Her comments came as investors assessed the implications of Tuesday’s American elections for the dollar, US government bond yields and the yen. The vote will determine control of the House of Representatives and Senate, potentially altering President Donald Trump’s legislative prospects.

Katayama stressed that Japan’s engagement with the US Treasury was continuing and that a change in congressional control would not automatically alter the officials responsible for currency discussions. Treasury Secretary Scott Bessent is her American counterpart.

“We have been in constant talks with them and will continue to do so,” she said, emphasising the importance of preventing disruptive movements rather than defending any particular exchange rate.

The yen traded around 157.8 against the dollar on Monday, remaining under pressure as traders weighed the possibility of renewed official efforts to support the currency. Katayama declined to judge whether the prevailing exchange rate was appropriate or to identify a threshold that might trigger official action.

She said market conditions had improved compared with the period when the Japanese currency weakened beyond 160 per dollar. Nevertheless, the government remained concerned about excessive volatility and transactions driven by speculation.

“I believe there is absolutely no wavering on either side in seeking to prevent excessive volatility, speculative moves and disorderly market developments, while pursuing our respective policy objectives,” Katayama said.

The distinction between exchange rate levels and the speed of currency movements is important for Japan’s intervention policy. Officials have repeatedly avoided committing themselves to a fixed dollar-yen rate, leaving room to respond when trading conditions threaten broader financial stability.

Monday’s remarks did not constitute an announcement of fresh intervention. They instead reiterated that the authorities retain the option of action and intend to consult Washington when necessary to preserve confidence in the functioning of international currency markets. Neither government disclosed a new operation or a revised bilateral arrangement on Monday.

Japan and the United States carried out coordinated yen-buying intervention on 31 July after persistent currency weakness raised concerns about market instability. Subsequent discussions between Katayama and Bessent reaffirmed their intention to discourage disorderly trading and maintain communication between their financial authorities.

At a meeting in North Carolina in August, the two finance chiefs agreed to continue cooperating on orderly currency movements. Katayama subsequently repeated that the policy stance established following their joint market action had not changed.

That understanding provides the immediate context for her latest assurances. It does not mean that every fluctuation in the yen will prompt intervention, or that the two governments necessarily share identical preferences about the currency’s value.

The approaching US elections add uncertainty because shifts in expectations for American fiscal policy can affect Treasury yields and the dollar. A change in the outlook for government borrowing or spending could influence the interest rate differential that helps shape demand for yen-denominated assets.

Such market responses remain contingent on the election result and subsequent policy decisions. Katayama offered no forecast for the vote or specific projection for the yen, concentrating instead on the established mechanism for communication with Washington.

Japan’s authorities also face domestic concerns surrounding the currency. A weaker yen can increase the local cost of imported fuel, food and other goods, complicating efforts to contain household expenses. Exporters, meanwhile, can benefit when overseas earnings are translated into yen, although the effects differ across businesses.

Prime Minister Sanae Takaichi has acknowledged problems associated with an undervalued yen. Katayama referred to shared concerns expressed by Takaichi and Trump during their September discussions, while making clear that maintaining orderly trading remained the operational priority.

The finance minister also addressed fiscal administration on Monday, saying the government would seek greater precision and transparency in its estimates of tax revenue. Her comments on the budget came separately from the currency assurances.

The Foreign Ministry disclosed on October 30 that approximately 3,600 sets of personal information might have been compromised through unauthorised access to its network. The records included names and email addresses, with around 900 belonging to people outside the ministry. Officials said confidential information was held on a separate network and had not been affected.

The ministry detected the intrusion on July 27, blocked access and invalidated credentials. An external investigation subsequently identified possible exposure. Authorities said there was no evidence that the information had been misused, and pledged stronger authentication and monitoring.

The disclosure followed an October 28 announcement by the Ministry of Economy, Trade and Industry concerning unauthorised access to the website of the Electricity and Gas Market Surveillance Commission. The incident added another government service to the expanding list of targets, although its full consequences remained unclear.

Prime Minister Sanae Takaichi convened a ministerial cybersecurity meeting on October 26 and ordered urgent countermeasures. She highlighted large-scale information leaks and the danger of stolen records being exploited for further attacks. The government also instructed agencies to improve assistance for affected organisations through the police and the Information-technology Promotion Agency.

Financial markets have faced direct losses from intrusions. Finance Minister Satsuki Katayama identified five foreign-exchange brokers whose customers experienced unauthorised transactions apparently connected to compromised servers operated by GMO Internet. The companies were Goldenway Japan, Oanda Japan, Ava Trade Japan, Gaitame Finest and Dukascopy Japan.

The brokers restricted affected accounts, blocked suspicious overseas orders and reset passwords. Katayama said on October 27 that regulators had received no reports of additional fraudulent transactions. The Financial Services Agency asked trading firms to strengthen surveillance and encourage customers to change credentials.

GMO shut down an affected cloud trading service on October 21 after discovering unauthorised access. The company subsequently acknowledged that material purportedly belonging to customers had been published online, while investigators continued checking its authenticity and the extent of exposure.

The company promised compensation for losses associated with fraudulent trading and offered affected users alternative services. It also rejected an extortion demand. Tokyo police opened an investigation into suspected violations of legislation governing unauthorised computer access.

Separately, IwaiCosmo Securities disclosed that an attack on technology provider Trade Works resulted in unauthorised orders involving seven customer accounts. Transactions were executed through five accounts, while personal information concerning 4,975 people was exposed. The brokerage said the leaked information could not itself be used to access trading accounts.

The National Cybersecurity Office has warned that intrusions are affecting organisations across numerous industries. Its October guidance emphasised protecting web applications, monitoring suppliers and controlling access to sensitive information. Financial regulators separately instructed institutions to examine third-party exposure and incident-response arrangements.

Artificial intelligence is complicating those efforts. Japan’s National Institute of Information and Communications Technology warned on October 13 that attackers were using increasingly sophisticated vulnerability discovery techniques, including methods that analyse mobile applications to identify weaknesses in connected servers.

GMO’s information-security division separately said its investigation had identified the use of a Chinese-developed artificial intelligence security tool called Artex in attacks directed predominantly at Japanese targets. That finding does not establish that artificial intelligence was involved in every breach or identify the operators responsible for individual incidents.

Cybersecurity company TrendAI counted 331 unauthorised-access incidents among Japanese organisations during January through September, representing 54.5 per cent of the incidents in its analysis. The classification covers different methods and does not necessarily indicate the same perpetrators or a coordinated campaign.

The growing exposure has also prompted scrutiny of authentication practices and outsourced infrastructure. Regulators have urged organisations to review vulnerabilities before attackers exploit them, strengthen access controls and prepare procedures for containing breaches. Particular attention has been directed towards information stolen from service providers that could subsequently enable attacks against their customers.

The Japan External Trade Organization disclosed on October 27 that its e-Venue business-matching platform had suffered unauthorised access on three dates between September and October. It said up to 133 personal-information records might have been exposed and suspended the service while specialists investigated.

JETRO had separately confirmed exposure of 743 records after attacks on other websites beginning October 14. The organisation notified affected businesses and contacts and established temporary online facilities while reviewing security arrangements.