Reuters (July 6)
Canary Wharf has been no stranger to challenges and now faces a new blow. “HSBC is quitting the financial hub and moving to smaller quarters…. Hybrid working is an existential threat for commercial property.” Canary Wharf’s “pivot to residential and retail may only be a partial salve.”
Tags: Canary Wharf, Challenges, Commercial property, Financial hub, HSBC, Hybrid working, Pivot, Residential, Retail
CNN (August 12)
“Hong Kong has recorded its sharpest annual drop in population,” falling from “7.41 million people to 7.29 million, a 1.6% decrease.” Experts attribute the exodus to “strict Covid control measures and a political crackdown that have taken the shine off a financial hub long advertised as ‘Asia’s world city.’”
Tags: 1.6% decrease, Annual, Asia, Control measures, Covid, Drop, Exodus, Experts, Financial hub, Hong Kong, Political crackdown, Population, Strict
Reuters (January 24)
Hong Kong’s “status as a global financial hub” is being threatened by its “zero COVID” policy and draconian immigration protocols. With no signs the government will ease restrictions, “more expats are thinking of leaving, and global banks, asset managers and corporate law firms are facing up to many of their staff exiting after annual bonuses are paid out in the first three months of the year.”
Tags: Asset managers, Banks, Draconian, Expats, Financial hub, Hong Kong, Immigration, Restrictions, Staff, Threatened, Zero COVID
