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The Next Financial Hub after Hong Kong, Singapore or Tokyo? | GFCI 25 |100 financial centers financial hub

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Soon after Beijing announced the implementation of the Hong Kong National Security Law, many countries announced or unveiled special programs to attract fleeing Hong Kong talent. With more sanctions on China on the way, Hong Kong is very likely to lose its international financial center status. With all the dynamic changes in Asia, who will rise and who will fall?

Hong Kong’s rule of law, level of autonomy, talents, and its unique status serve as a gateway to China and has made it the largest financial center in Asia. Chinese and large foreign companies alike were happy to do business in Hong Kong where they could mutually benefit each other. But, with the Hong Kong National Security Law, things have changed. Reuters and Bloomberg reported that multiple giant enterprises and banks have prepared to withdraw from Hong Kong and Mainland China due to political unrest, deteriorating relationships with the United States, and the trade war.

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Where will the money go? In 2019, GFCI 25 ranked Singapore, Shanghai, and Tokyo just behind Hong Kong among 100 financial centers across the globe. Let’s look at some unique qualities of Tokyo and Singapore first.

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20 comments

Nai Fong Koh 23/09/2021 - 7:03 PM

Myanmar…

Reply
David Ng 23/09/2021 - 7:03 PM

Is not just language, government and financial system…. It is the flow of money, looking at the map where you connect the 3 points to London, New York and singapore basically u cover Asia, Europe and North South America.

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盲武士 23/09/2021 - 7:03 PM

One thing is for certain. It isn’t going to be any city in China cos the CCP are just too obsessed with control. So it’s Singapore for me

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Effendi M 23/09/2021 - 7:03 PM

I believe Singapore is poised to be Asia's largest financial centre due to the use of English as it's business language and for the fact that it is in the center of a growing economy of Asean. Its sound financial institutions makes it instrumental to tap onto the growth of its neighbours – Indonesia, Thailand and Vietnam.

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Angel of the East 23/09/2021 - 7:03 PM

ADB, Bank of America, JP Morgan and Chase and World Bank have head quarters in the Philippines.

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jon jeong 23/09/2021 - 7:03 PM

I think is Shanghai

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Dillion S Soon 23/09/2021 - 7:03 PM

why those cities like Tokyo, Seoul and Taipei all trying to get the crumbs from hong kong's table but Singapore just keep quiet and say we wish stability in Hong Kong? Because we don't want those money without providing jobs and real GDP.

Those are not easy money. A large part of it is Chinese government and state owned enterprises money. With the ongoing decoupling of US and China, anybody who takes up to manage those money would ends up like HSBC, risk of being penalize by both.

Singapore serve the Asean market which is the most vibrant, youth and better educated region going uphill. China's growth has reached its peak, those silly economists who forecast something linear are plain ignorant about the real world. Singapore as usual, don't go for unrealistic growth and risky assets that are in grey zone of money laundry. We are the arbitration law hub for 46 countries and we could only follows the rule based system.
Please exclude Singapore in your analysis on who is going to take over Hong Kong, let the rest fight among themselves, we are not interested.

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SmartMoneyMatch 23/09/2021 - 7:03 PM

on smartmoneymatch.com we see that Singapore is gaining but also the mainland China cities like Shanghai, Shengzhen see smartmoneymatch.com/events Tokyo more as a domestic financial center

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SmartMoneyMatch 23/09/2021 - 7:03 PM

on smartmoneymatch.com we see that Singapore is gaining but also the mainland China cities like Shanghai, Shengzhen see smartmoneymatch.com/events

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jeff strong 23/09/2021 - 7:03 PM

Hong Kong was attractive for financial hub due to transparent free economy system free from authoritarian government system which Singapore and Tokyo do not fit. Recently New York Times moved part of business from Hong Kong to Seoul due to freedom of expression and non threatening government system there. New Songdo International Business District is perfect fit for international trades with no tax and plenty of government support there for foreign investments.

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Erick R Cisneros 23/09/2021 - 7:03 PM

Japan is fascinating

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DMTHOTH 23/09/2021 - 7:03 PM

It's more likely singapore. Tokyo is favoured even behind Taipai and Seoul.

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Eric H C 23/09/2021 - 7:03 PM

Singapore is no difference from China, don't be scammed! Singapore has been closed to China in many ways. Singapore is not a free country, the PAP oppressed it's people in many ways. All main steam media in Singapore is control by the PAP an authoritarian regime. Check free speech in Singapore. Singapore upfront is a financial center but it is actually a money laundry center. The US is watching Singapore closely.

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Windy Squall 23/09/2021 - 7:03 PM

Japan will be more closed country due to the tanker war progresses triggered by China and USA. BTW Japan don't need foreigners.

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鄭明耀Kun 23/09/2021 - 7:03 PM

Headlines: Deutsche Bank Asia CEO picks Singapore base in snub to Hong Kong
So what happened to Tokyo? LOL

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Quah kB 23/09/2021 - 7:03 PM

Kuala Lumpur

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Gamer Dom 23/09/2021 - 7:03 PM

Tokyo should be the next financial hub, So it can make Japan economically strong again Like how it was in the 1980s.

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Escape Felicity 23/09/2021 - 7:03 PM

get a proofreader

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James Bondable 23/09/2021 - 7:03 PM

JAPAN. China melting with it's Hong Kong take over. 2020

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Van Han Lee 23/09/2021 - 7:03 PM

Singapore working language is english.

Reply

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