The new crown epidemic has plagued Hong Kong for more than two years. Seeing that its competitor Singapore has already opened its doors to "snatch customers", many business people are worried that if Hong Kong continues to "close customs", how can it play its role as "Unicom International" and maintain Hong Kong's unique advantages and status.
The Hong Kong government is scheduled to hold the "Hong Kong Fintech Week" from the end of October to the beginning of November, but Singapore has also decided to host the "Fintech Festival" at the same time. Some business people revealed that the Sin Chew side pushed the participants to "choose one of the two". The trend of "grabbing business".
Sin Chew Power Valley Fintech
The immigration wave and strict anti-epidemic policies have caused a serious brain drain in Hong Kong in the past two years, and many financial and technology professionals have turned to Singapore for development.
Chief Executive Li Jiachao has repeatedly mentioned the need to "snatch talents" in recent months. The specific policy has not yet been issued. Singapore has taken the lead in launching the "Overseas Network and Professional Visa" program, with a monthly income of 30,000 Singapore dollars (that is, about 169,000 Hong Kong dollars). Those who are eligible for the new special work visa can apply for up to 5 years, after which they can apply for permanent residency or citizenship.
In addition to "grabbing talent", there is also "grabbing business". In recent years, Singapore has vigorously developed into a financial technology center. Earlier than Hong Kong, it introduced tax incentives for R&D expenditures, promoted electronic infrastructure, and held the "Singapore FinTech Festival" every year. Attract exhibitors and executives from all over the world.
In Hong Kong, the “Fintech Week” is held every early November in recent years. It is organized by the Financial Services and the Treasury Bureau and Invest Hong Kong. Last year, it attracted 20,000 participants, more than 400 exhibitors and 39 international trade delegation entities. And online participation, this year is scheduled to be held at the exhibition from October 31 to November 4.
Financial Secretary Paul Chan attended the opening of the "Hong Kong Fintech Week" last year.
(Information Services Department)
The two major events have not "collided" in recent years
However, some people in the business community revealed that Singapore deliberately "selected a date" to hold the "Fintech Festival" from November 2 to 4 this year, and "collided" with Hong Kong. The intention was obvious, and it was even reported that Sin Chew requested to attend the meeting. The "two-to-one" approach is aimed at the fact that Hong Kong may not be able to complete customs clearance to the outside world in November.
Looking through the data of the past 3 years, the two events have never "collided".
Chen Zhenying, a member of the financial sector of the Legislative Council, pointed out that in the past, such events usually did not overlap, but "one after another" for guests and exhibitors to participate. This time, Singapore obviously wants to take advantage of Hong Kong's weakness to further win more business and expand financial technology. opportunity.
He believes that even if Hong Kong eases entry into November, it will be difficult to catch up in the short term, because Singapore has been closed for a while, but he hopes that the Chief Executive will put forward specific measures in the "Policy Address" to attract foreign businessmen. In addition, Hong Kong has the advantages of the Greater Bay Area. To "lose short wins long".
Some officials pointed out that the "Hong Kong Fintech Week" is scheduled to be held in early November every year. Singapore's decision to hold it at the same time is indeed a cause for concern. At present, there is still a period of time before November. It will be up to the government to relax the entry measures at that time. It is too early to make a decision after overall consideration.
In the face of the challenge of Sin Chew's "clearing the horse", Hong Kong cannot afford to be neglected, but whether the epidemic prevention policy can be relaxed in time for November, I am afraid that no one can say for sure.
Some guild members said that the Li Jiachao government is anxious to reconnect with the world, but the current epidemic has rebounded to about 10,000 confirmed cases per day, and it is impossible to propose full customs clearance in November at this time. "In fact, epidemic prevention and control must take into account many factors. "It is not easy to come up with a plan that satisfies Beijing." Hong Kong cannot be like foreign countries, turning a blind eye to the protection of the elderly and the burden of public medical care, but the government's general direction is definitely to continue to relax. .
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