Money has already started leaving Hong Kong, with US$5bn quitting the territory last year, according to Bank of England figures
The Chinese government’s increasingly tight grip on Hong Kong is undermining the former British colony’s position as a regional financial hub, analysts and investors say.
In its latest move to clamp down on Hong Kong, which has been a centre of resistance against the ruling Chinese Communist party, the mainland government last month introduced a sweeping national security law that criminalises protest and dissent.
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