Hong Kong remains the most favoured place to do business in the region according to a recent business survey, and is likely to retain this status in the years ahead.
The poll conducted by business conference organisers DNM Strategies at the 13th Asia Leadership Forum, held in Hong Kong last month, found that 92% of the 130 executives who responded to the survey were of the opinion that Hong Kong remained the region’s number one financial hub.
By contrast, just 3% considered Singapore was of more importance, and 5% thought Shanghai was now a larger player than Hong Kong.
However, a significant percentage also believed that Shanghai poses a considerable threat to Hong Kong’ s leading position in the near term, and 31% envisaged that the Chinese city will overtake the territory within the next three years.
Nevertheless, experts contend that mainland cities still have a lot of catching up to do before Hong Kong is toppled as the leading financial centre, especially as the Chinese foreign exchange market remains tightly restricted.
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