Japan finds luring business from Hong Kong may be tough

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Tokyo is on a charm offensive, hoping to lure firms in Hong Kong spooked by protests and a controversial security law imposed by China. But the ...

While Tokyo is capital of the world's number-three economy and offers attractive incentives such as tax breaks, it also has a number of stumbling blocks. TOKYO: Tokyo is on a charm offensive, hoping to lure firms in Hong Kong spooked by protests and a controversial security law imposed by China. But the city is proving a tough sell.

In some ways, Japan might seem an obvious alternative for businesses looking to leave Hong Kong: It is the world's third-largest economy, home to the Tokyo Stock Exchange, and already houses outposts of numerous financial institutions and international firms. But"there's also a lot of scepticism because there haven't been a lot of changes" over the years when similar initiatives have been proposed, he added.

"I wouldn't expect big firms to announce that they are pulling out of Hong Kong completely," Mark Williams, chief Asia economist at Capital Economics, told AFP.

 

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