JPMorgan Executive Affirms Hong Kong’s Long-Term Wealth Hub Status Despite Beijing Investment Curbs

Hong Kong’s long-term wealth hub status safe from mainland investment curbs: JPMorgan exec

Beijing’s recent curbs on cross-border investment and a tax shift targeting overseas insurance gains may create short-term uncertainty, but they will not undermine Hong Kong’s long-term competitiveness as a major wealth management hub, according to a senior executive at JPMorgan Chase. Kwang Kam-shing, Hong Kong CEO and chairwoman of North Asia at the biggest bank by assets in the United States, said she remained optimistic about the long-term outlook for Asia’s financial sector, citing...

By Enoch Yiu,Zoe SL Chan