Hong Kong Protests Prompt Withdrawal of USD$5 Billion in Investment Funds: Bank of England

A report from the UK central bank claims that widespread protests in Hong Kong have resulted in a sizeable withdrawal of investment funds in 2019.

Around USD$5 billion in investment funds have pulled out of Hong Kong this year in response to the protests, according to the Bank of England’s latest semi-annual Financial Stability Report.

The report, which made use of data from Refinitiv and EPFR, points out this amount is equal to approximately 1.25% of Hong Kong’s GDP.

Related stories

Hong Kong Fin­tech Plat­form We­Lab Grabs $156 Mil­lion in Se­ries C Fi­nanc­ing Round

Al­ibaba’s Hong Kong List­ing Ex­pected to be First Pa­per­less IPO

Hong Kong Mon­e­tary Au­thor­ity Flags “Soft Launch” of Vir­tual Bank­ing Ser­vices in Fourth Quar­ter