Despite recent unrest impacting local businesses, Hong Kong is expected to maintain its status as a global financial center in the long term, according to economist Chong Tai Leung.
The violence in Hong Kong has significantly affected small and medium enterprises (SMEs), including retailers, shops, and restaurants. Many of these businesses have reported downturns due to decreased consumer confidence and reduced tourism.
However, Chong Tai Leung believes that Hong Kong’s strong financial infrastructure and its role in global markets will allow it to recover and sustain its position. “The fundamentals of Hong Kong’s financial system remain robust,” he stated, emphasizing the city’s resilience and adaptability.
Analysts echo this sentiment, noting that while short-term challenges persist, Hong Kong’s legal framework, regulatory environment, and international connections continue to make it an attractive hub for finance and investment.
Business professionals and investors are closely monitoring the situation, with many expressing confidence in Hong Kong’s ability to weather the current storms. The city’s historical role as a gateway between East and West remains a critical asset in the global economy.
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Hong Kong will maintain its financial center status, economist says
cgtn.com
