Hong Kong, A Study in Contrasts: Big Brother versus Big Business

Invest Hong Kong Director-General Simon Galpin discusses:

- The sectors HK deems to be of ‘strategic importance’;
- HK: seen as a gateway to China, the ‘factory of the world’ - key attractions;
- Focus companies - Mainland, Taiwan - other key emerging markets - why;
- China - ‘one country two systems’ - influence - Beijing;
- Hong Kong - laboratory - liberalisation - renminbi - details;
- Political freedoms - longevity;
- Concerns - Hong Kong’s - independent-minded judiciary - referring controversial legal issues to Beijing instead of deciding on them itself;
- Human Rights - concerns - freedom of assembly - right of privacy - covert surveillance - labour rights;
- Internet censorship;
- Importance of governance - Sun Hung Kai scandal -- extent of powers of the Independent Commission Against Corruption;
- Whether SHK was made example of -- red chips - poor reputation overseas;
- Hong Kong Securities and Futures Commission - revisiting proposals - throw investment bankers into jail - making false statements - IPO documents;
- Whether concerns - tight regulation - flight of capital;
- Recent example - Hong Kong Market Misconduct Tribunal - George Stairs - Fidelity fund manager - selling shares ahead of a Chinese rights - argument in favour of more regulation;
- Competition - Shenzhen - Shanghai - Seoul - Singapore;
- Singapore - F1 - Manchester United to list in Singapore - whether losing lustre as preferred IPO destination;
- Broader issues - school places - fees - property prices - availability.