China ‘needs Hong Kong’ in race for global financial leadership, former stock exchange chief says

China is well on its way to becoming the world’s first digitalised and cashless economy, allowing it to dictate global financial rules while also enabling Hong Kong to shoulder an important responsibility alongside, according to the former head of the city’s stock exchange operator.For several decades, China has regarded Hong Kong as playing an important role as an extension of the Western world, which is the leader in traditional financial banking.But as China still does not have the ability…

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