“Hong Kong is likely to develop into a Chinese offshore center,’’ said Alicia Garcia Herrero, chief Asia-Pacific economist at Natixis SA. As mainland Chinese companies are expanding, concern over the city’s future is growing among western companies. It’s also the case that these new mainland China offices are having a growing impact. Immigrants into Hong Kong from mainland China have outstripped their international counterparts and are a key reason for the city’s population growth. China has gradually been growing less reliant on Hong Kong as a source of growth as mainland cities such as Shenzhen have grown.

Source: Hindustan Times June 24, 2020 01:02 UTC