Posted on by

Entrepreneurs Flee China’s Heavy Hand: ‘You Don’t Have to Stay There’



Share

“Singapore will not crack down on a company or an industry outside its legal framework,” said Chen Yong, founder of Pionex, a cryptocurrency exchange, who moved there from Beijing in 2021. “Its policies have more continuity.”Mr. Chen and others I met in Singapore said they had no intention of moving to Hong Kong, despite that city’s enthusiastic attempts to woo people like them in recent months.For decades, Hong Kong played the role of safe haven for mainland entrepreneurs because of its autonomy from China. That crumbled after Beijing introduced a national security law in the territory in 2020, ushering in the arrest of activists, the seizure of assets, the detention of newspaper editors, the rewriting of school curriculums and what many see as the compromising of judicial independe …

Read More