Anti-government protests in 2019, followed by Beijing’s swift imposition of a sweeping national security law in 2020 and three years of draconian COVID lockdowns prompted an exodus of tens of thousands of people from Hong Kong, taking a toll on its reputation and economy.
Other speakers included government officials, European Union representatives and executives including from the city's banks, aviation industry and its stock exchange. "If we believe that Hong Kong will be able to recover its most international Asia city status by continuing on this trend, we are very wrong," said Amate. "Hong Kong needs diversity."
“Life is great here, particularly if you are an expatriate. It’s safe, great nature and so much going on, but the image is still very negative,” the diplomat said. A survey by recruiter Robert Walters in September said that more than half of Hong Kong professionals are considering or planning to move out of the city.
Hong Kong's IPO market has lost momentum with only around $2.7 billion raised so far this year compared with $4 billion a year earlier and at least $35 billion at the market’s peak during COVID.
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