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Letters | How post-Brexit London could become a centre for Chinese IPOs fleeing the US
- While Hong Kong is likely to attract many Chinese firms delisting in the US, London could make a bid for them too
- Hong Kong financial services professionals could be lured to Britain to work with Chinese clients
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Social unrest usually happens when economic problems have yet to be addressed by a clear set of pragmatic policies. However, decision-makers often cannot see the wood for the trees when they are trying to tackle the problem at the surface. They might overlook golden opportunities.
Once Hong Kong is overwhelmed by the huge migration of Chinese listed companies from US capital markets, there would be a great opportunity for London to serve Chinese companies that want to launch initial public offerings and issue corporate bonds. Huawei could be among the first batch of Chinese clients.
Post-Brexit London, no longer bound by rigid European Union regulators, can carve a new niche for serving the financial needs of Chinese and other Asian conglomerates. Talent specialised in serving the Asia-Pacific’s high-net-worth individuals and companies can be found in Hong Kong and Singapore.
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A British passport, plus an opportunity to be gainfully employed in the City of London, would be quite attractive. Hong Kong’s current vulnerable situation could be viewed as a blessing in disguise for Britain.
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Hongkongers with BN(O) passports could be eligible for UK citizenship if China imposes security law
Hongkongers with BN(O) passports could be eligible for UK citizenship if China imposes security law
However, this great niche can only be developed when the occupant of No. 10 Downing Street learns how to think independently and sees the value of splendid neutrality. It is time to throw away the Cold War clichés and the habit of following big brother at the expense of London’s interests.
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