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China's march to common prosperity: A risky path for Hong Kong tycoons, investors
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To investors, the "common prosperity" policy adds new layers of uncertainty to a global market that was already reconsidering China's fundamental investability.
PHOTO: AFP
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HONG KONG - The stakes for profit hunters and tycoons in Hong Kong are now higher than ever as Chinese President Xi Jinping pushes for "common prosperity" in the mainland, in turn raising the question of whether the city will also face the same fate in time to come.
Observers familiar with Chinese politics and the financial industry are divided on how the wealth distribution push in the mainland will affect Hong Kong, but most believe the risk factor for Hong Kong has risen, although the impact will still be limited.
