More Hong Kong companies say business impacted by mass protests

[dreamybear]

The intent of most international (mainly finance) businesses located in Hk is to be able to access/serve the Chinese market. If these international businesses wish to maintain their access to Chinese markets, and enjoy lower tax, and fewer capital control regulations, there is probably no better place for them to be. Which is why we have yet to see any report of major companies relocating.

If these international businesses do uproot from HK, but still wish to do Chinese business, the most probable relocation will be to the mainland. Probably Shenzhen or Shanghai. Singapore?

There will likely be more wealth management business for Singapore, as some of the rich people move their money to what they perceive to be the 'Switzerland of Asia.' And there may be a little more Chinese tourist in Singapore. But that's probably as much as Singapore can benefit. Singapore has a more defined role in catering to international businesses interested in the Asian Pacific market.

During the time of HK's 1997 handover, few of the HK businesses actually relocated to Singapore. The most prominent probably being Jardine. But it was only the listing of their public companies that was moved to Singapore. Although Jardine continued to grow its retail business in mainland China, their movement of listing to Singapore probably earned the ire of CCP leaders. Jardine's influence in HK's legco, and hence its business clout in HK, was gradually by the noveau HK rich. The lesson is simple; a business that is long on China risks losing long-term gains, if it flees at the sight of trouble.

As for HK residents migrating to Singapore, this will only take place in significant numbers if the companies that employ them do likewise. Since it is not likely for major HK companies to move to Singapore, then it is also less likely for HK residents to move to Singapore.

For those that are rich enough to consider moving without certainty of employment, it seems that Hkers much prefer western nations. Just as it was during HK's handover. More than 20 years after the handover, Canada, Australia, and UK still appear to be the preferred destinations, at least according to media reports. Even then, most of those who left in 1997 eventually returned to HK. Why? More business to be done there, of course.

Good analysis.

Article "Will Hong Kong people buy Singapore homes?" from property soul who migrated from HK :

"Hong Kong people are not buying investment. They are buying insurance.

Hong Kong people are not buying residences. They are buying permanent residence.

Emigration in Hong Kong has been on the rise again for the last few years. The popular destinations for Hong Kong people are still Canada and Australia. The new ones include Taiwan, Malaysia and Thailand, but not Singapore."

Read more : https://www.propertysoul.com/2019/08/02/...ore-homes/

dreamybear also dream of having insurance PR in UK, Australia, Canada or US.