, Columnist
Hong Kong Is Finally Doing Two Things Right for Its Recovery
It has a lot of catching up to do, but maintaining the city’s status as a tax haven combined with a hunger for young talent is a good start.
Back on track.
Photographer: Lam Yik/BloombergThis article is for subscribers only.
Hong Kong is in a tough fight to reclaim its throne as Asia’s most prominent financial center. During the last three years of severe Covid lockdowns, professionals left and flocked to the rival hubs of Singapore and Dubai. Money went with them. The number of family offices in Singapore doubled during the pandemic.
It’s still too early to hand out a verdict — the city only fully reopened in January — but John Lee’s administration seems to be making the right calls to get Hong Kong back on its feet.