Hong Kong is at a particularly interesting time in its development. Historically, the trading gateway between the vast riches of China and the upstart European powers before becoming one of the world’s pre-eminent international finance hubs, recent developments have seen much commentary on a perceived swing back towards China which has left many wondering about the viability of its long-term future as an international business powerhouse. At a time when IPO activity has slowed to a trickle, and some lawyers have relocated their Asia headquarters to Singapore, much remains uncertain – though Hong Kong still retains a unique character that no other city can fully emulate.
So, how is the situation on the ground really? During a trip to the Pearl of the Orient in September of last year, we had the pleasure of chatting with a number of highly regarded general counsel in Hong Kong to get their take on things. Two particularly enlightening interviews were with Michelle Hung, general counsel and company secretary of COSCO Shipping Ports, and Victor Ding, general counsel – CLPe at CLP. For the on-the-record part of the interview, the following question was asked to both: