For years, Hong Kong has been one of the world’s most profitable banking markets. That status is now under threat.
The city is a money-spinner for HSBC Holdings PLC, Standard Chartered PLC, Bank of China Ltd. and others, such as Bank of East Asia Ltd.
and HSBC’s local subsidiary, Hang Seng Bank Ltd. It is lucrative in part because Hong Kong is a major financial center, and handles a lot of business for mainland Chinese clients.
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