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Strict travel restrictions and Xi Jinping's national security law are forcing overseas bankers out of Hong Kong in droves.   © Illustration by Takahiro Suganuma
The Big Story

So long, Hong Kong: Asia's business hub loses its luster

City's rigid quarantine rules appease mainland but risk alienating foreign bankers

PAK YIU, Nikkei staff writer | Hong Kong

HONG KONG -- This year, like every year, Hong Kong's banking circles have been peppered with farewells for senior executives. The glittering bars of Lockhart Road and Lan Kwai Fong have seen many bottles of Champagne uncorked, tearful speeches delivered and group selfies taken in a natural cycle of change that starts toward the end of each calendar year as senior rainmakers depart for London, New York, Tokyo or Frankfurt. This year, however, few replacements are flying in.

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