Hong Kong bankers worry that new laws could lead to capital flight

Pan-democratic legislators scuffle with security as they protest against new security laws during Legislative Council’s House Committee meeting, in Hong Kong, China May 22, 2020. REUTERS/Tyrone Siu

HONG KONG: China's plans to impose national security legislation in Hong Kong are expected to lead to the flight of capital and talent from the Asian financial hub, bankers and headhunters said.

The proposed legislation, which prompted concerns over freedoms in the semi-autonomous city, comes after large-scale and often violent pro-democracy demonstrations last year, which had already pushed some wealthy individuals to scout for investment options elsewhere.