Hong Kong’s Waning Importance for China’s Economy

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Hong Kong’s relevance as China’s gateway to global markets is diminishing, according to Bloomberg Economics. Still, it retains a distinctive role as staging post for outbound investment, and source of equity and bond finance. As protests against the extradition bill continue to rage, erosion of the high standards of governance that underpin the island’s status as an international financial center would be a loss for both mainland China and the former colony.