Can Hong Kong remain a conduit between China and the world?
Its future as a financial centre depends on nothing less
CHINA AND America have begun the fraught business of disentangling their financial systems. Chinese firms with shares listed in New York have rushed to float in Hong Kong, too, after the White House signalled they are not welcome on Wall Street. The latest is NetEase, a Chinese gaming firm that began a $3bn listing this week. But now Hong Kong itself, the world’s third-biggest international financial centre, has become a geopolitical flashpoint. Its unique role as the conduit between global capital markets and China’s inward-looking financial system means that both sides must tread carefully.
This article appeared in the Leaders section of the print edition under the headline “Conduit’s end?”
From the June 6th 2020 edition
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