The uncertainty surrounding Hong Kong's future was amply demonstrated by two starkly differing views on business after the handover given yesterday by senior members of the local investment community.
Credit Lyonnais Securities Asia chairman and chief executive Gary Coull said Hong Kong would prosper after the handover as a flood of Chinese companies lined up to raise money in the territory.
Marc Faber & Associates director and renowned contrarian Marc Faber was highly pessimistic, saying Hong Kong's special circumstances would come to an end after it reverted to Chinese rule, and that the local property and stock markets would face a heavy setback.
Speaking at a Foreign Correspondents Club seminar, Mr Coull said he was neither outrightly bullish or bearish about Hong Kong's future, but that from a pragmatic point of view it was difficult not to be positive.
He said the huge demand for funding by Chinese companies in coming years would ensure Hong Kong's future as a financial centre was secure.
'There are about 350,000 companies in China incorporated to do business - and they all need money.