Concerns over Hong Kong's political and economic future are growing as pro-...
HONG KONG - Concerns over Hong Kong’s political and economic future are growing as pro-democracy protests drag on and turn increasingly violent, and China makes clear that forceful intervention is possible.An intervention by Chinese troops could seriously damage Hong Kong’s standing as a stable international financial center and a gateway for global capital flowing into the world’s second-largest economy.
These freedoms give Hong Kong a special status internationally, allowing it to negotiate trade and investment agreements independently from Beijing — for instance, it does not have to pay the tariffs that the United States is imposing on Chinese imports. Most of China’s biggest firms, from state-owned Industrial and Commercial Bank of China, to private firms like Tencent Holdings, have listed in Hong Kong, often as a springboard to global expansion. Last year, Chinese companies raised $64.2 billion globally - almost a third of the worldwide total - via initial public offerings , but just $19.7 billion of that came from listings in Shanghai or Shenzhen, according to data from Refinitiv, compared with $35 billion in Hong Kong.
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