Editorial | Those who unfairly criticise Hong Kong must be put in their place
- Wrongful claims from social media users in mainland China about city’s bourse and its position as a financial hub have drawn a response from leaders
It may be difficult to take seriously attempts to diminish Hong Kong’s status as a financial hub. So what could prompt the financial services minister, plus one of his predecessors, the financial secretary and the chief executive to each publicly defend it?
A social media pile-on from over the border, targeting the city’s presently lacklustre stock market has finally triggered a response. It amounts to badmouthing that the city can do without.
Its leaders have therefore set a good example by meeting attempts to belittle the city with authoritative rebuttal and refutation.
Internet users claimed the city’s hub status was a thing of the past, with one commentary comparing the stock market’s Exchange Square headquarters to a historic site.
Critics found ammunition in market data showing proceeds of initial public offerings here had hit a 20-year low.
IPOs are neither the only measure of a financial hub, nor the most reliable amid an uneven post-Covid recovery and economic headwinds.
