Chinese bankers flock to Hong Kong as exodus of expatriates changes the population

Peace and Freedom

  • 18 Jun 2017 at 15:58

A Chinese national flag flies in front of the China Construction Bank (CCB) Tower at Hong Kong’s Central business district Dec 26, 2014. (Reuters file photo)

HONG KONG — A flood of Chinese bankers is changing the social fabric of Hong Kong, as they rapidly expand their footprint in one of the world’s premier financial centres, even as Beijing struggles to tame the former British colony politically.

Twenty years after Hong Kong’s handover to Chinese rule, scores of mainland professionals are filling the elite financial ranks of Hong Kong, while a series of lay-offs at Western banks has led to an exodus of expatriates.

The largest increase in mainland staff over the past decade has come in investment banks, with 80% seeing an increase of at least 20%, according to a 2015 Financial Services Development Council survey.

“It has a much better environment…

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