HKIFA's Wong On Hong Kong's Brain-Drain Challenge

The video discusses the movement of talent and business roles out of Hong Kong, driven by unfriendly quarantine policies. It highlights the need for urgent government action to retain talent, especially in the financial sector. The discussion covers temporary and permanent relocations, potential destinations like Singapore and Dubai, and strategies to boost capital flows through initiatives like Stock Connect and Wealth Management Connect. The need for a clear government roadmap and collaboration with regulators is emphasized to enhance market access and product offerings.

What is one of the main reasons for the urgency in addressing Hong Kong's quarantine policy?

• To retain financial talent

• To boost local businesses

• To increase tourism

• To improve public health

What is a significant factor that defines Hong Kong as a fund management center?

• Advanced technology infrastructure

• Low tax rates

• Diversity of talent

• Its geographical location

Which jurisdictions are mentioned as potential destinations for businesses relocating from Hong Kong?

• Singapore, Dubai, Doha

• New York, London, Tokyo

• Sydney, Melbourne, Auckland

• Paris, Berlin, Madrid

What is the purpose of the Stock Connect and Bond Connect initiatives?

• To enhance local business opportunities

• To facilitate capital flow into China

• To connect Hong Kong with European markets

• To promote tourism in Hong Kong

What is a key challenge in enhancing the Wealth Management Connect scheme?

• High operational costs

• Insufficient marketing strategies

• Regulatory differences between markets

• Lack of investor interest

What type of products does the Wealth Management Connect currently allow?

• Real estate investments

• Cryptocurrency products

• High-risk products

• Low and medium risk products

What is one of the proposed enhancements for the Wealth Management Connect?

• Increase in marketing budget

• Reduction of transaction fees

• Expansion to include investment advisory services

• Introduction of cryptocurrency trading