Charles Li has seen HKEX earnings plunge on political unrest as Beijing mulls alternative venues. Yet Li is confident China’s market inefficiencies will leave it dependent on Hong Kong’s financial plumbing in the end, writes petesweeneypro
Hong Kong Exchanges and Clearing Chief Executive Charles Li, speaking at a Breakingviews Predictions 2020 event in Hong Kong on Jan. 9, said he has confidence in the future of the exchange, and expects Beijing’s continued support. He also warned of “economic devastation” after seven months of anti-government protests.
On Nov. 6, HKEX reported an 8% fall in quarterly net profit from the same period a year earlier, the steepest profit slide in nearly three years.
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