HONG KONG — After mass unrest in 2019, a pandemic that left it isolated from the world and the imposition of a national security law that has crushed dissent, Hong Kong is ready to turn the page.
According to government statistics, about 319,000 people arrived in Hong Kong last month, down 97% from 10.8 million in October 2019.
According to one report last month, Hong Kong has lost its status as Asia’s top financial center to Singapore.
While it may not be realistic to expect businesses to turn away from China’s huge market, global business leaders “need to recognize that there’s a new situation in Hong Kong, there’s a new reality,” said Brian Kern, the lead researcher for a report on doing business in Hong Kong that was published last month by the Hong Kong Democracy Council, a nonprofit group based in Washington.
Lee also pointed to a report in September in which Hong Kong topped Singapore as the world’s freest economy.