Post by account_disabled on Feb 15, 2024 1:31:07 GMT -5
disaster. "State-owned enterprises rarely lay off employees, and now they are also firing people. The business has been too bad in the past two years, and there are no big deals at all. Everything they do is small deals. How can they support so many people" Mr. Huang (pseudonym), who works as a senior executive at another major Chinese bank, said that the company has been "very smart" to avoid directly firing people for the sake of political correctness, and instead encourages
employees to voluntarily resign. He bluntly said, "Every day I am scared (feared) that I will not have a job." He also pointed out that the value of the Hong Kong stock market has shrunk and the entire market is lifeless. "Even I Spain Phone Number List myself am planning to immigrate. I don't want to tie my future and wealth to Hong Kong." The financial industry is an important economic pillar of Hong Kong, accounting for nearly a quarter of the gross domestic product (GDP) in 2022. The decline in Hong Kong's stock market has caused a negative wealth effect, dragging down the property market and consumer confidence. Coupled with the sharp decline in population
due to the immigration wave, negative sentiment has pervaded the entire Hong Kong economy. for Hong Kong people to ridicule the current situation: "It's because you are pessimistic. I see the benefits of governance and prosperity." The root cause of the Hang Seng Index's "slow bear" Hong Kong's Hang Seng Index fell below the psychological mark of 15,000 points on January 22, closing at 14,961 points, a 15-month low. On the same day, the total market value of the Hong Kong stock market (approximately US4.29 trillion) was surpassed by the Indian stock market (approximately US4.33 trillion), losing its status as the world's fourth largest stock market . After the central government announced a RMB 2 trillion bailout and the central bank cut prices by 0.5, the Hang Seng Index rebounded