SINGAPORE - Pitting Singapore and Hong Kong against each other makes for better headlines, but it is simplistic talk that is “rather hyped up” as both cities have their own strengths. With economies that are closely intertwined, Singapore and Hong Kong each other growing and bringing vibrancy to this entire region, said Minister for Home Affairs and Law K. Shanmugam. “By virtue of the geography of both places, and what Hong Kong and Singapore have built ourselves into, both can - and I think- will do very well. It is never a zero-sum game,” he said on Wednesday at the fifth edition of the China Conference: Southeast Asia. The annual flagship event organised by the South China Morning Post brings together government representatives and business leaders, to discuss how China and Southeast Asia are shaping the global agenda. Read more at straitstimes.com.
SINGAPORE - Pitting Singapore and Hong Kong against each other makes for better headlines, but it is simplistic talk that is “rather hyped up” as both cities have their own strengths.
The annual flagship event organised by the South China Morning Post brings together government representatives and business leaders, to discuss how China and Southeast Asia are shaping the global agenda. Strong legal frameworks, a thriving network of 27 Free Trade Agreements, and being a key hub for trading, finance, aviation, professional services and shipping, among other things, have put Singapore in a good position, he added.
Mr Shanmugam said that Singapore is in a very strong position to continue to be attractive, if Asia or at least significant parts of it grow, and if the Republic “remains sensible” on its employment, tax and business policies. He said that Hong Kong has strong links to the Chinese hinterland, and close financial integration with the mainland. This has helped it become one of Asia’s largest equity markets, with over 75 per cent of Hong Kong stock exchange’s market capitalisation accounted for by mainland companies.
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