Some global firms consider moving treasury operations out of HK - sources


  • World
  • Wednesday, 03 Jun 2020

HONG KONG (Reuters) - Some global companies are considering shifting some of their treasury operations out of Hong Kong as the United States moves to end the city's privileges, senior bankers said, in the latest blow to the territory's status as a major financial hub.

U.S. President Donald Trump has begun the process of eliminating special U.S. treatment for Hong Kong to punish Beijing's decision to impose new national security laws there - which China and Hong Kong say will not hurt rights and freedoms.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In World

Ukraine's growing arms sector thwarted by cash shortages and attacks
Bomber crashes in Russia, Interfax says
Meta's newest AI model beats some peers. But its amped-up AI agents are confusing Facebook users
Google is combining its Android software and Pixel hardware divisions to more broadly integrate AI
US vetoes bid to make Palestine a full UN member
Five Japanese nationals escape Pakistan suicide blast attack
No missile attack against Iran, Iranian official tells Reuters
UK police say they disrupted cyber fraud network that stole personal data from thousands
AI-powered World Health chatbot is flubbing some answers
Iran fires air defence batteries in provinces as sound of explosions heard near Isfahan

Others Also Read