Tao Dong: the next 10 years and remaining in Hong Kong or Shanghai stock market

"The next 10-15 years, Hong Kong and Shanghai stock markets may finally be leaving Shanghai stock market, it is entirely possible. Hong Kong go forward if you do not own, do not save themselves, then the competitiveness of the current recession will be step by step "

May 19, in "China Entrepreneur Summit – 2010 Hong Kong Forum", on the topic of Hong Kong's competitiveness, on-site guests were hot. Credit Suisse's chief Asia economist Dong Tao said that is no longer the financial industry in Hong Kong's high-end, as soon as possible if you do not dig a new competitive edge, Hong Kong, the possibility does exist falls behind.

Following Tao Dong view the full text:

I joined the debate. Hong Kong will lose its competitiveness? I tell people to make peace on the mainland would be different. I desperately condemn the Hong Kong Government before, this is called fall behind, I think they do not really understand that our lawmakers do not understand, our so-called 80, died after 90 do not know, I so speaking, I really think so —- Hong Kong go forward if you do not own, if you do not save themselves, then the competitiveness of Hong Kong will present a step by step recession.

Back years, from an economist's point of view, many people say when (financial center) moved to Hong Kong, I said in the foreseeable (a), (financial center) will not move to Shanghai. I discussed with peers, chief economist of no one moved to Shanghai, because the problems we face is two-way, first information came from China, but the customers come from outside, if the family moved to Beijing and Shanghai how to deal with external information? I have no problem in Hong Kong to South Africa, from Shanghai in the past, if so, trouble came. To do foreign passport, from Shanghai in the past how long time? If we have, then, to the Filipino domestic helpers with the past is impossible.

From these terms, Hong Kong has the advantage of the system, I think 10-15 years, Hong Kong and Shanghai stock market stock market may last only Shanghai stock market, it is entirely possible. But I agree with the views of President Choi, Hong Kong has a great capacity for change will create more financial assets and derivative products will be manufactured out of stock today, but the window is no longer a high-end financial industry representatives. Hong Kong, if you do not waste time digging out new competitive advantages, Hong Kong and the mainland fall behind compared the existence of the problem, I agree.

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