Bye-bye, western bank dominance! Chinese giants are taking over Hong Kong

Bye-bye, western bank dominance! Chinese giants are taking over Hong Kong

Photo: Bloomberg

What a difference 20 years makes. Back when Hong Kong reverted to Chinese sovereignty in 1997, the British colony’s economy was dominated by homegrown tycoons such as Li Ka-shing and colonial-era conglomerates such as Jardine Matheson Holdings Ltd., whose influence dates back to the Opium Wars.

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