Financial News
Written by: Kuang Yueting
2020-05-22 19:39
Date of last update: 2020-05-22 19:39The Hong Kong version of the Guoan version will be voted at the National People's Congress next Thursday. According to "Reuters" quoted unnamed Hong Kong bankers and headhunting consultants, it is expected that the Hong Kong version of the National Security Law will trigger capital and brain drain.
A senior banker said that during the social movement last year, many customers prepared Plan B, but they did not move their assets out of Hong Kong. Now some customers are inquiring about this plan to start moving the assets out of Hong Kong and no longer concentrate their wealth in Hong Kong. .
Some bankers said that as more investors and financial institutions focus on the impact of Beijing ’s latest actions, Hong Kong will also find it difficult to attract talent.
Rahul Sen, a partner at Boyden, a wealth management headhunting and consulting firm based in London, said that if the social movement continues for a long time or if no feasible solution is found, the Hong Kong banking industry will also consider Singapore to expand its business in Greater China.
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