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Business trends

Hong Kong hedge funds eye exit as national security law looms

City's status as the premier Asian destination for industry talent is at stake

Funds in Hong Kong manage assets worth almost $91bn.   © Reuters

HONG KONG (Financial Times) -- Hong Kong-based hedge funds are considering uprooting their operations as China prepares to impose sweeping national security legislation on the Asian financial hub.

Fund managers and traders in the former British colony are expressing concerns that the industry could find itself in Beijing's crosshairs, after the Chinese Communist party approved a plan to impose national security laws targeted at what it called "subversion of state power" or "interference" from foreign countries.

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