Unstable Equilibrium of Politics in UK could affect Fintech London Dream

London's dream of turning itself in to the World's fintech capital may suffer on the back of a potential political instability in case there is a hung parliament. Like other democracies, coalition politics will imply disturbances in reforms needed to ensure that London remains at the heart of  the financial world.

The fall in the GBP is reflective of the tremors that the markets expect.

Without any risk or responsibility

Rise of Hong Kong as a financial centre.

  

The Rise and rise of Hong Kong on the back of China and Asia[1]

1. Hong Kong is riding on China's economic power .

2. Chinese settled equivalent to US $ 1 trillion of China's trade in RMB in 2014.

3. Over 30 % and 16 % of China's inward and outward direct investment respectively were in RMB.

4. Hong Kong ranks third in the World Bank's "Ease of Doing Business" .

5. Hong Kong is third in Global Financial centres Index after London and New York.

6. 70 of the World's top 100 banks have presence in Hong Kong.

7. Hong Kong Exchange has reached $ 4 trillion in market capitalization.

8. Chinese companies now account for 95 of the Fortune 500 companies

9. Hong Kong is the fifth FX activity centre supported by a unique network of real time gross settlement systems in USD, Euro, RMB and the HKD.

10. Asia contributed to 32 % of Western firms' global revenues; a rise from 19 % in 2011.

Watch out London. Watch out Tokyo.

 Without any risk or responsibility

  

---

[1] Based on a speech by Mr. Peter Pang, Deputy Chief Executive of the Hong Kong Monetary Authority, at the Asia Treasury Trailblazer Summit 2015, Hong Kong, 30 April 2015.