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Do We Need to Be in Hong Kong?' Global Companies -2-

06/06/2021 | 11:07am EDT

Some large banks, although optimistic about continuing to do business in Hong Kong, are quietly running contingency scenarios to ascertain what they would do if they lost access to their Hong Kong infrastructure and had to operate out of another city, people familiar with such plans said.

"People ask, can I still do whatever I want and say whatever I want?" said Allan Zeman, a foreign-born real-estate developer who has advised Hong Kong's current government and years ago gave up his Canadian passport for a China-issued one. "Yes. I still do whatever I want and say whatever I want, as long as I choose not to be an antagonist."

Write to John Lyons at john.lyons@wsj.com and Frances Yoon at frances.yoon@wsj.com

Corrections & Amplifications

This article was corrected June 7, 2021 to reflect that Hong Kong's currency is freely convertible but is pegged to the U.S. dollar. And Sandra Boch, an Austrian mother of one who moved to Hong Kong 15 years ago to set up a specialty fabrics and stationery business, left in November. The original version of this article incorrectly said the Hong Kong dollar was free-floating and incorrectly said Sandra Boch is Australian, has two children and left Hong Kong in January.

(END) Dow Jones Newswires

06-06-21 1307ET

Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / HONGKONG-DOLLAR (AUD/HKD) -0.39% 5.6519 Delayed Quote.-4.24%
BRITISH POUND / HONGKONG-DOLLAR (GBP/HKD) -0.43% 10.69 Delayed Quote.1.64%
CANADIAN DOLLAR / HONGKONG-DOLLAR (CAD/HKD) -0.68% 6.0934 Delayed Quote.1.24%
DJ INDUSTRIAL -0.48% 34584.88 Delayed Quote.13.75%
EURO / HONGKONG-DOLLAR (EUR/HKD) -0.34% 9.1242 Delayed Quote.-2.89%
INDIAN RUPEE / HONGKONG-DOLLAR (INR/HKD) -0.12% 0.105674 Delayed Quote.-0.21%
US DOLLAR / HONGKONG-DOLLAR (USD/HKD) -0.01% 7.7818 Delayed Quote.0.36%
WYNN MACAU, LIMITED 0.00% 6.1 End-of-day quote.-53.15%
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