The Global Financial Leaders Investment Summit, a flagship event hosted by the Hong Kong Monetary Authority, begins Monday with participants including Goldman Sachs Chief Executive David Solomon, Morgan Stanley boss James Gorman, Citigroup's Jane Fraser, as well as HSBC's Noel Quinn and Standard Chartered's Bill Winters.
"The main question in the mind of everybody when they come to Hong Kong is how is the Chinese economy performing and what would be the swings coming from there," said Diana Parusheva-Lowery, head of public policy and sustainable finance at the Asia Securities Industry & Financial Markets Association in Hong Kong.
Trading volumes have also slumped as foreign investors reduce exposure to a China they view as increasingly isolated by its opaque policies, struggling property sector and crackdowns on private enterprise. "And senior people in the financial sector are keenly aware of those issues, even if they don't discuss them publicly," Beddor said.Hong Kong's financial job market, which saw an exodus of foreign employees during COVID, is unlikely to recover in the near term amid a challenging operating environment, recruiters and industry insiders say.
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