Hong Kong is set to record the world's largest increase in business insolvencies this year, with cases projected to surge 44%, The Standard reported, citing a report by Allianz Trade.

The insurer said global business insolvencies rose 6% in the third quarter of 2025 and continue to trend higher across most economies, despite already elevated levels, according to the report.

After Hong Kong, the sharpest year-on-year increases are expected in Türkiye and Greece, followed by Italy and Switzerland, the report added.

Allianz Trade also raised its growth forecast for China by 0.2 percentage points to 5% for 2025 and by 0.5 percentage points to 4.7% for 2026, citing front-loaded US demand, tariff circumvention, market share gains abroad, a weaker currency, and competitive pricing, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)