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

Jul 13, 2026 · HK Finance Column

Hong Kong's HK$210.2 Billion IPO Boom Runs on Beijing's Deadline

Hong Kong's HK$210.2 billion first-half IPO haul reads like a market renaissance, but it is mostly mainland filers racing a China Securities Regulatory Commission deadline before their clearance windows expire.

Jul 5, 2026 · HK Finance Column

Beijing's Queue, Not Hong Kong's Market, Sets This Boom

Beijing decides which mainland firms get to list in Hong Kong, and Gulf sovereign funds decide which of those get financed. That makes this year's IPO boom look less like a market recovery and more like two state balance sheets taking turns.

Jun 30, 2026 · HK Finance Column

HKD 255 Billion Unlocks on July 7

Hong Kong's record H1 IPO boom was built on deferred price discovery; the AI cohort's July lockup expiry forces the reckoning the cornerstone structure postponed.

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.