Tensions in Greater China have led analysts to warn that many businesses can move from Hong Kong to Singapore.
If realized, the prediction will be a blow to Hong Kong after months of political turmoil that has rocked the region. Dong added: "Hong Kong's status as East Asia's premier financial center is supported by Hong Kong's unique status under "one country two systems" granted by China during the 1997 handover from Britain to China."
Dr Wu said: "The bill has strengthened the expectation that money would further be leaving the Asian financial hub, such an important bridge between China economic engine and the rest of the world." Jeffrey Halley, senior market analyst, Asia-Pacific at OANDA, said: "The big winner out of this could be Singapore if we do see an exit of companies from Hong Kong.
But Hernando Gomez, principal-in-charge of the business valuation division at MBAF, thinks it may not be that easy for Singapore to snatch business from Hong Kong, as the island is facing its worst recession in the history of its independence. "One could say that some rival cities like Singapore or Shanghai may benefit from the chaos but unfortunately, under the current circumstances, I do not see that many winners as the city has been dragged into a recession.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tom Brady is selling his highly customized Cadillac Escalade for $300,000 — see inside - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. look like a funeral car In my country this car would be used by Funeral Parlours only 🤣🤣 Looks more like a hearse.
Source: BusinessInsider - 🏆 729. / 51 Read more »
LendingArch is expanding to the US - Business Insider - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
A Goldman Sachs cryptocurrency report angered true fans | Currency News | Financial and Business News | Markets InsiderOn Wednesday, Goldman Sachs released a report that outlined five reasons that cryptocurrency is not an asset class or a suitable investment. Th... BREAKING: Analyst from “the man” angers people who are mad at “the man” 🤷♂️
Source: BusinessInsider - 🏆 729. / 51 Read more »
Instagram to share ad revenue with influencers - Business Insider - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
China passes national security laws in Hong Kong, erodes autonomy - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Apple If you still manufacture ur products in China, you are hand in glove with the gross atrocities on Hong Kong people realDonaldTrump ScottMorrisonMP HK belongs to China. The West has no right to tell what other countries should do or not do. See how the coverage compares against other news outlets on Ground News China HongKong Politics Beijing Asia
Source: BusinessInsider - 🏆 729. / 51 Read more »