From the implementation of the “Hong Kong version of the National Security Law” to the arrest and trial of 47 pro-democracy activists, Caixin Media Chairman Xie Jinhe pointed out on the 11th that Hong Kong is rapidly changing qualitatively and quantitatively, in less than a year, there is only one voice left in Hong Kong, and all of them want to be patriots. At the same Time Hong Kong’s capital market is also rapidly Chinese, Ali, Jingdong, Baidu and other Chinese new economy companies from the United States to Hong Kong listing, with Hong Kong characteristics of the enterprise was rapidly replaced, now only 20%.
“Hong Kong is slowly disappearing.” Xie Jinhe’s Facebook post lamented that Hong Kong, considered the Pearl of the Orient and a haven for global capital for the past century, is undergoing a century of dramatic change. As a financial center, Hong Kong is now no different from Beijing and Shanghai, and the rule of law and freedom that Hong Kong enjoyed during the British Hong Kong era no longer exist.
Xie Jinhe pointed out that in a recent survey on the ranking of the Index of Economic Freedom, Hong Kong, which was ranked second only to Singapore, was removed because of its rapid integration into China; the report shows that Hong Kong’s economic freedom is still higher than that of other Chinese cities, but it has been controlled by Beijing.
After Hong Kong was dropped, the top 5 are now Singapore, New Zealand, Australia, Switzerland and Ireland. Most notably, Taiwan jumped from 11th to 6th, followed by the UK, Denmark, Canada and Estonia. The United States fell from 17th to 20th, and China fell from 103rd to 107th.
Xie Jinhe said, from the passage of the “Hong Kong version of the National Security Law”, to the current patriots ruling Hong Kong, to the arrest and conviction of Lai Chi-ying and other people, and the arrest of 47 pro-democracy activists in the Legislative Council elections, Hong Kong is rapidly changing qualitatively and quantitatively.
Veteran actor Sammo Hung lamented that there is no hope for Hong Kong; recently, nearly 200 people refused to take the oath of office for Hong Kong civil servants. Recently, the two sessions were held, and the voice of patriots ruling Hong Kong rose up. Even the financial news of the Hong Kong Economic Journal emphasized that it is natural and rightful for Hong Kong people to love their motherland, and in just less than a year, there is only one voice left in Hong Kong, and everyone has to be a patriot.
Regarding Hong Kong’s financial market, Xie Jinhe pointed out that the most high-profile event was the announcement of the withdrawal of The Japanese online brokerage firm in Hong Kong, SBI (SBI), from Hong Kong, and the head Yoshitaka Kitao (Yosh*taka Kita) made a very eloquent statement, saying that there is no finance without freedom. This year, Hong Kong’s capital market is rapidly becoming Chinese, with numerous Chinese new economy companies going public from the US to Hong Kong, from Ali, Jingdong, NetEase, Crypto, to the recent Baidu and Bilibili, large-cap companies have all but changed.
Xie Jinhe mentioned that the Hong Kong Stock Exchange has recently adjusted its constituent stocks, and companies with Hong Kong characteristics are rapidly being replaced, now accounting for only 20%. The Hong Kong stock market has become the third capital market with Chinese characteristics outside of Shanghai and Shenzhen, “the great change in Hong Kong may also be a great change that we rarely see in this lifetime.”
Recent Comments