Well seem Hongkong financial hub is not affected by the new security law Business as usual
A Year After Security Law, Hong Kong Finance Hub Status Endures
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A Year After Security Law, Hong Kong Finance Hub Status Endures
Enda Curran and Christopher Anstey
Mon, July 26, 2021, 4:00 PM
(Bloomberg) -- China’s overhaul of Hong Kong’s political institutions has crushed the pro-democracy movement and fueled warnings of an end to the city’s status as an international financial hub. Yet more than a year after the crackdown began, signs of an investor exodus are hard to find.
Shares of Hong Kong’s exchange operator have doubled since the start of 2020, reflecting confidence in the city’s ability to lure Chinese listings. The local currency is near the strong end of its trading band against the dollar, suggesting capital outflows aren’t a worry. Major global banks and financial institutions including BlackRock Inc. and Citigroup Inc. have maintained or grown their presence in the city. Employment in the finance and insurance sectors rose in 2020 from a year earlier.
That comes even as surveys suggest growing concern among some expatriate executives about the crackdown’s impact on civil liberties and rule of law, following the mass arrest of pro-democracy advocates and threats to the free flow of information under the sweeping National Security Law imposed by China in July 2020.