Capital flight from Hong Kong “set to spike”
Wealthy individuals are increasingly shifting assets out of the city and considering moving themselves elsewhere too, amid rising sanctions and lost confidence, say financial advisers.
Hit by bad news on a variety of fronts, wealthy investors in Hong Kong are increasingly moving money out of the territory, financial advisers in the city have told AsianInvestor. And a growing number of people are considering heading for the exits themselves.
Beijing’s crackdown on political freedoms is tightening under Hong Kong’s National Security Law (NSL) – witness this week's arrest of pro-democracy tycoon Jimmy Lai – and tit-for-tat US-China sanctions are fuelling tensions f…
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