China's march to common prosperity: A risky path for Hong Kong tycoons, investors

HONG KONG – The stakes for profit hunters and tycoons in Hong Kong are now higher than ever as Chinese President Xi Jinping pushes for common prosperity in the mainland, in turn raising the question of whether the city will also face the same fate in time to come.

Observers familiar with Chinese politics and the financial industry are divided on how the wealth-distribution push in the mainland will affect Hong Kong, but most believe the risk factor for Hong Kong has risen, although the impact will still be limited.

Please subscribe or log in to continue reading the full article.

Get unlimited access to all stories at $0.99/month

  • Latest headlines and exclusive stories
  • In-depth analyses and award-winning multimedia content
  • Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*

*Terms and conditions apply.

Join ST’s Telegram channel here and get the latest breaking news delivered to you.

Source: Read Full Article