There has been more outspoken criticism of Hong Kong government policy from business and finance circles in the past two months than in two years of political and social turmoil.
A slow Covid-19 vaccine rollout combined with the failure to outline an exit plan from the pandemic has finally lit a fire under the territory’s bankers.
Hong Kong’s financial services sector has enjoyed a gilded status, contributing more than a fifth of the territory’s total gross domestic product each year. About 70 of the world’s 100 largest banks have operations in the Chinese city, and they have so far been mostly shielded from the consequences of Beijing’s tightening grip over Hong Kong.
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