Finance leads Hong Kong's Business Exodus



ORIGINAL POST
Posted by Ed 3 mths ago
https://hongkong.asiaxpat.com/Utility/GetImage.ashx?ImageID=4e734d28-14f7-41c1-8710-58e87f36979b&refreshStamp=0 
The foreign exodus was particularly stark in the financial sector, with 52 banks and financial companies and 24 insurers leaving the city. The Vanguard Group, The Motley Fool and others have also announced their exits from the city since June.
 

"Foreign companies closely linked to Hong Kong should be aware that the perceived ‘martyrdom’ of the three young activists may cause reputational harm to their business interests beyond the territory," said British consultancy A2 Global Risk.

The risk of similar jailings "will add to the desire of many local residents with the transferable skills valued by international companies to leave the territory as soon as possible, often in order to protect their children," the firm added.

 
https://asia.nikkei.com/Business/Finance/Finance-leads-Hong-Kong-s-first-business-exodus-in-11-years
 
No doubt more would be leaving if not for Covid which makes it difficult to shift people into other countries... 

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