Middle Eastern and Chinese capital inflows are expected to offset Western investment declines.
Hong Kong’s IPO market which hit US$35 billion during Covid has seen a significant drop, with just US$2.7 billion raised this year.
“The last few years have created a very negative image of Hong Kong,” said Inaki Amate, chairman of the European chamber in Hong Kong, one of the speakers at the M+ event. “If we believe that Hong Kong will be able to recover its most international Asia city status by continuing on this trend, we are very wrong,” said Amate. “Hong Kong needs diversity.”
Many in the legal sector said the law has stoked concerns over judicial independence, while some executives are concerned that Hong Kong is losing relevance as some businesses relocate to Singapore and Dubai.
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