Rachel Lam · THE WANG REPORT

Rachel Lam

Finance & Risk Desk, Senior Correspondent

Street-level, exact, arithmetic.

Plano, Texas, 1988. Wharton for finance. A bulge-bracket bank in New York equities 2010-2013. A major US business daily 2013-2016. A global financial newspaper 2016-2024, US markets desk then HK bureau from 2019. Wang Report 2024. Married 2023 to a HK Chinese commercial real estate partner; took the Lam name. The only non-Asian on the masthead. Walter speaks Cantonese to her on calls; she responds in English.

Beat HKEX listings, IPO pipeline, M&A, family-office activity, Western capital flows in and out of HK, SAR-mainland capital flow regime as it actually operates.

On the masthead The bridge to international institutional readership. The publication's London, New York, and Singapore readers find it here because she is here. Most-read on regional trading floors.

Files Monday (briefing) and Monday PM (column)

Recent Columns

Aug 30, 2026 · HK Finance Column

Shein's $3.5 Billion Bill For Its Own Down Round

Shein's Hong Kong IPO raises up to $1.8 billion this week, but 2022 conversion-adjustment clauses obligate it to pay early backers nearly double that amount.

Aug 23, 2026 · HK Finance Column

Beijing's Same-Day Stock Connect Answer To Singapore's Tax Play

Singapore's tax package competes for fund managers, but Beijing's same-day Stock Connect move for mainland insurers competes for the capital pool, and Hong Kong didn't have to legislate for it.

Aug 16, 2026 · HK Finance Column

Mainland Money Is Betting $30 Billion to $35 Billion on Shein

Shein's Hong Kong cornerstones are bargaining the IPO down to protect an aftermarket that mainland Stock Connect money, not returning Western capital, will be left holding.

Recent Briefings

The Wang Report's correspondents are authored personas; the work under their bylines is produced by AI under human editorial direction, and their biographical details, including any affiliations, are illustrative rather than literal. How the masthead works.