33 C
Jaipur
Monday, October 26, 2020

SBI Holdings Inc: Japanese online brokerage SBI Holdings Inc considering retreat from Hong Kong – Latest News

Must read

Call Of Duty Mobile To Get A Mode With Zombies, But It Isn’t Zombies Mode

Call of Duty Mobile recently released the much-awaited Season 11 update with a lot of amazing content. However, unfortunately, Call of Duty Mobile didn’t...

Airtel Xstream App Is Now Available on Amazon Fire TV Stick: Report

Airtel Xstream came into existence more than a year ago. It was the company’s major play towards content aggregation, offering you a variety of...

GitHub Removes YouTube Download Tool in Response to DMCA Takedown Notice

Microsoft-owned GitHub has removed YouTube-dl, an incredibly popular Python library to help download YouTube videos. The move is in response to a Digital Millennium...

Japan’s giant online brokerage SBI Holdings Inc is considering retreating from Hong Kong which has been unstable due to a new security law imposed by China, a spokesman said on Wednesday, confirming reports by local media.

SBI, which operates a securities business as well as research and development of medical supplies in Hong Kong, has become the first Japanese financial firm to clearly indicate such a move is under consideration.

“It’s true we are considering retreating from Hong Kong or downsizing our business there,” the spokesman said, adding the company believes Hong Kong’s status as a global financial centre may fall.

The spokesman said the company employs dozens of people there but declined to comment on where it might move to.

Chief Executive Yoshitaka Kitao has pledged to position Japan as a global financial centre, replacing Hong Kong, according to Japan’s Jiji news agency.

China’s parliament in June passed national security legislation for Hong Kong, raising fears among democracy activists and some foreign governments that Beijing is further eroding Hong Kong’s autonomy.

Given such uncertainty, the Japanese government has shown its intention to improve its standing as a global financial centre by implementing measures such as tax reform.

Prime Minister Shinzo Abe, who last month said he would resign, had suggested in parliament that Japan could take in Hong Kong residents who worked in the financial sector or other specialised areas.

Source link

- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Call Of Duty Mobile To Get A Mode With Zombies, But It Isn’t Zombies Mode

Call of Duty Mobile recently released the much-awaited Season 11 update with a lot of amazing content. However, unfortunately, Call of Duty Mobile didn’t...

Airtel Xstream App Is Now Available on Amazon Fire TV Stick: Report

Airtel Xstream came into existence more than a year ago. It was the company’s major play towards content aggregation, offering you a variety of...

GitHub Removes YouTube Download Tool in Response to DMCA Takedown Notice

Microsoft-owned GitHub has removed YouTube-dl, an incredibly popular Python library to help download YouTube videos. The move is in response to a Digital Millennium...

Wikiman: An Offline Search Engine For Arch Linux, Gentoo Wiki, And More

Official documentation of applications or commands is always the best way to learn about them if you want to know every detail, which a blog...