Will hk surpass singapore in the next few years as a financial hub?
Seems a lot of people may be concerned about the political issue in HK in WSO. This is the underlying reason why SG overtook HK months ago. Btw if you are still considering about China's invasion, then check this: (obviously you don't have any knowledge about this. check wikipedia, read books, learn knowledge, and be aware of how biased those us medias are when reporting about Chinese issues. I don't like talking about politics in a financial forum and I respect your right to speak. But, as a matter of fact, HK was governed by EVERY dynasty in Chinese history till the uk colonist took it away. It was given back to China in 1997 as a SAR.). I'm not a big fan of politics, but seemingly people out of China are pretty unknown of Chinese politics with silly and negative stereotype towards China in ur minds.
Some reasons for people to worry about:
National security law 国安法--sth. issued by the CPC and applied to HK after the massive protest in 2019. I don't think this will harm that much for people unless you intend to advertise your HK independence. (fun fact: Australia national government condemn you may be considered as crime even if you didn't break the law. As a Chinese lived for 7 years in Australia, I found this hilarious 袋鼠国就是美国的狗腿子呵呵）.
The over-control to HK by CPC. I think this is the true reason that hurts HK while media like BBC and CNN are still referring everything to NSL. CPC used to apply radical covid policies in 2022, it's not reasonable for CPC to manage and use this policy in HK according to National Law and HongKong law. People are forced to stay home at that time, namely--a huge discouragement for foreign capital as well as bankers. Fortunately the stupid policy was eliminated in HK quickly. Though CPC may be stupid for sometimes, they are still somehow wise about HK issues.
Those factors should've been taken account that HK fell behind SG as a financial hub. You guys as well as foreign capital may only consider about the first reason and value it as a fundamental reason for the change, but the second one may be more important for people living in HK, as this affected them directly.
HK as the only capitalism financial hub in China is capable of attracting and absorbing massive capital in entire China, and many Chinese bankers would head and work there. Think about how many people/how much capital China has, the extent of which would never allow hk to fade out lol.
The covid policy has ended in entire China and banks love capital for a lot. In this way, will HK beat SG and back to its original place again?
(Hong Kong is mainly responsible for China mainland/HK/Macau/Taiwan/part of Southeast Asia capital I guess, and SG may be attractive for more Southeast Asia/oceania/arabic capital. The two hubs seems to be comparable in this way?)