The Next Financial Hub after Hong Kong, Singapore or Tokyo? | GFCI 25 |100 financial centers financial hub

by Krabihometownbt1
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Soon after Beijing announced the implementation of the Hong Kong National Security Law, many countries announced or unveiled special programs to attract fleeing Hong Kong talent. With more sanctions on China on the way, Hong Kong is very likely to lose its international financial center status. With all the dynamic changes in Asia, who will rise and who will fall?

Hong Kong’s rule of law, level of autonomy, talents, and its unique status serve as a gateway to China and has made it the largest financial center in Asia. Chinese and large foreign companies alike were happy to do business in Hong Kong where they could mutually benefit each other. But, with the Hong Kong National Security Law, things have changed. Reuters and Bloomberg reported that multiple giant enterprises and banks have prepared to withdraw from Hong Kong and Mainland China due to political unrest, deteriorating relationships with the United States, and the trade war.

Where will the money go? In 2019, GFCI 25 ranked Singapore, Shanghai, and Tokyo just behind Hong Kong among 100 financial centers across the globe. Let’s look at some unique qualities of Tokyo and Singapore first.

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#HongKong#SecurityLaw#Singapore #Tokyo #FinancialHub #AsiaEconomy #Stock

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