Speaker 1: You're listening to Asia Centric from Bloomberg Intelligence, the podcast
Speaker 1: that pulls back the curtain non global business so you
Speaker 1: can invest better across the Pacific realm. I'm Tom mccorbett
Speaker 1: in Hong Kong.
Speaker 2: And I'm John Lee. Hong Kong's so called brain drain
Speaker 2: is turning back into a brain gain as thousands of
Speaker 2: knowledge workers return to the city after fleeing COVID.
Speaker 1: But who's coming back and from where could have a
Speaker 1: big impact on the city's economy, its culture, and its future.
Speaker 2: Hong Kong's changing workforce is driven largely by twenty and
Speaker 2: thirty somethings flocking over the border from mainland China, and
Speaker 2: the reasons why they choose Hong Kong might surprise you.
Speaker 1: What's driving the change and how might Hong Kong's job
Speaker 1: market look in twenty thirty and beyond. For this, let's
Speaker 1: bring in three experts. Mark Tibbett's managing director at Page Group.
Speaker 2: In Hong Kong, Francis Senior analyst with Bloomberg Intelligence.
Speaker 1: And Peter Lau, Associate analyst with Bloomberg Intelligence. Gentlemen, welcome,
Speaker 1: thank you, thank you.
Speaker 2: Here Mark, what strikes you most about the job market's
Speaker 2: most notable changes.
Speaker 3: I think there was a pretty seismic movement of people
Speaker 3: through the last few years. A lot of people left
Speaker 3: Hong Kong for various reasons, and as you guys just
Speaker 3: rightly pointed out, there's a flow of talent coming back
Speaker 3: into the city and the demographic has certainly changed. I
Speaker 3: think the most notable shift for me, certainly as an
Speaker 3: expatche in Hong Kong, was a large volume of pretty seasoned,
Speaker 3: pretty senior overseas workers, business leaders, experts, et cetera moved
Speaker 3: out during the COVID period, and many of those moved
Speaker 3: out permanently.
Speaker 1: And so that's at the stage for some big changes
Speaker 1: or at least a reset, if you will, for Hong
Speaker 1: Kong's job market. Was it just the obvious factors, was
Speaker 1: it COVID or were there other contributing factors.
Speaker 3: I think the overall sort of economic political environment faced
Speaker 3: some changes through that same period, So I certainly think
Speaker 3: that there was a proportion of movement driven by that,
Speaker 3: certainly amongst the more local community. But I do think
Speaker 3: the expatriot community were really pushed out by COVID policies,
Speaker 3: not a huge amount more maybe some economic draw but
Speaker 3: largely COVID policies from an international standpoint and mark some of.
Speaker 2: These workers are coming back to Hong Kong. Are they
Speaker 2: the expats or are they more sort of like Mainlanders
Speaker 2: coming to Hong Kong for the first time.
Speaker 3: Obviously, there's definitely an influx of people from mainland China.
Speaker 3: The top talent visa schemes have appealed to people in
Speaker 3: mainland China in large numbers, and we're certainly seeing that
Speaker 3: from the other side of the border professionals that we
Speaker 3: see in China who are applying for the various schemes.
Speaker 3: So there absolutely is that, but there is also a
Speaker 3: flow back of talent from other markets within the Asia
Speaker 3: Pacific region, and also we're starting to see more now
Speaker 3: from further Afield Mark Tibberts.
Speaker 1: In every great human migration, there is a component of
Speaker 1: running from something and then running to something. The writer
Speaker 1: Paul Through likes to say that travel is equal parts
Speaker 1: flight and pursuit. How do you see that dynamic as
Speaker 1: it applies to what's happening with mainland China and Hong
Speaker 1: Kong right now.
Speaker 3: I think primarily they're running to Hong Kong for the
Speaker 3: advanced economy, the opportunities the education, maybe the healthcare system,
Speaker 3: access to international markets. I think largely following the carrot,
Speaker 3: so to speak.
Speaker 2: Mark, There's been a lot of discussion of how Hong
Speaker 2: Kong is becoming much more integrated with China. Some have
Speaker 2: caught it the mainlandization of Hong Kong. When you recruit
Speaker 2: people for Hong Kong, is Mandarin as a language becoming
Speaker 2: much more important.
Speaker 3: As a language is certainly more important in Hong Kong
Speaker 3: now than it ever was. I think that's actually been
Speaker 3: a process that was happening long before COVID. Certainly within
Speaker 3: the education system, we saw Mandarin becoming a much more
Speaker 3: dominant language. Obviously, it stands to reason that if more
Speaker 3: people are coming into Hong Kong from mainland China, then
Speaker 3: Mandarin is going to be spoken and heard a lot more.
Speaker 3: I think we'd all agree that you do at the
Speaker 3: moment in Hong Kong, for sure.
Speaker 1: Francis Chan, senior analyst with Bloomberg Intelligence. You recently published
Speaker 1: a piece of research that was quite widely read on
Speaker 1: the Bloomberg terminal about this very subject. Talk a little
Speaker 1: bit about what your key findings were and the conclusions
Speaker 1: that you drew from.
Speaker 4: That well, I think the first findings from our research
Speaker 4: is minenntization. As we discussed earlier, and more and more
Speaker 4: Mainlan talents are coming to Hong Kong for different reasons,
Speaker 4: hopefully for poor factors of the city, and that's very
Speaker 4: evident in the governments saratistics the visa information. Ninety four
Speaker 4: ninety five percent of the latest top Past Talent program
Speaker 4: released in December twenty twenty two applied by the mainland
Speaker 4: talents and twenty two thousand of them have been approved
Speaker 4: in terms of applications. And if we look for other
Speaker 4: channels of visa application to Hong Kong, they are also
Speaker 4: predominantly occupied by talents from mainland China, and about only
Speaker 4: eight thousand of other talents have been getting visas from
Speaker 4: Hong Kong. But that will really spread across different Western
Speaker 4: countries or sofeast Asian countries. I would say seventy to
Speaker 4: eighty percent of the visa application we'll be coming from
Speaker 4: the North.
Speaker 1: And Francis Chan, let's talk a little bit about the
Speaker 1: demographics of those people from the north, from mainland China
Speaker 1: coming into Hong Kong. Who are they, what's the age range,
Speaker 1: their background, who is it in mainland China broadly speaking
Speaker 1: that has found attraction to Hong Kong.
Speaker 4: Well, they could be a wing from the age of
Speaker 4: twenty to forty, mostly so.
Speaker 1: Mostly younger adults, early career professionals.
Speaker 4: Or or mid age professionals. And if you take a
Speaker 4: look of the professions of these applicants coming to Hong Kong,
Speaker 4: you find that finance is one of the biggest industry
Speaker 4: attracting talents from the North, followed by maybe academic education industry.
Speaker 4: They may be coming to Hong Kong as professors or
Speaker 4: do R and D in Hong Kong working in different
Speaker 4: educational institutions. And two other segments which is not as prominent,
Speaker 4: but they are also significant. It will be commerce and
Speaker 4: trade and information technology. Of course, if you talk about
Speaker 4: the biggest pool of talents, it will be for finance
Speaker 4: and academics.
Speaker 1: I've noticed Mark Tibbetts from Page Group sitting here quietly
Speaker 1: as you were talking. Francis nodding his head, Marco head
Speaker 1: and way in, Yeah.
Speaker 3: I think absolutely right. The largest group of migrants we're
Speaker 3: seeing is that ex executive workforce that maybe the junior
Speaker 3: aspirational executive people with young families and big financial commitments,
Speaker 3: and again I do think that speaks to the economic
Speaker 3: pull of the city. I largely agree with the intelligence
Speaker 3: that France has just mentioned.
Speaker 2: Mark and Francis. You know, Hong Kong invariably always gets
Speaker 2: compared to Singapore if both cities vie for being Asia's
Speaker 2: financial capital. What's happening with this race like Mark? From
Speaker 2: your point of view, is Singapore gaining the upper hand
Speaker 2: or you think it's still too early?
Speaker 3: Well, I just personally think that Hong Kong and Singapore
Speaker 3: are two different places and have two different roles in
Speaker 3: the sort of economic food chain of the region. I
Speaker 3: just don't think that Singapore can supplant Hong Kong in
Speaker 3: its location, in its strategic importance for Greater China, and
Speaker 3: Hong Kong needs to really focus on that as its
Speaker 3: sort of primary role, primary objective as a conduit for
Speaker 3: money for goods, trade for people, talent, etc. Into China
Speaker 3: and out of China. And if we focus on our
Speaker 3: strengths in Hong Kong, then I personally think Hong Kong
Speaker 3: stands alone for all of its sort of assets and
Speaker 3: attributes in that regard. I think Singapore's equally in a
Speaker 3: really strategic location for a lot more economies, and largely speaking,
Speaker 3: I think that's going to drive Singapore's longer term success.
Speaker 1: In Francis Chan, some cynics have written off Hong Kong already,
Speaker 1: but are they too quick to have written its epitheph
Speaker 1: sort of speak dog tailing off of Marx comments.
Speaker 4: I think for Hong Kong's future or Hong Kore's prospects,
Speaker 4: it relies most heavily on China's prospects from this point onwards,
Speaker 4: both as a financial center or a business hob in
Speaker 4: the Asia specific area. If you talk about its status
Speaker 4: as the financial hop solely focusing on copy financing functions,
Speaker 4: Hong Kong as of now is the far ahead of Singapore,
Speaker 4: not because we are doing better, but we are the
Speaker 4: offshore financial hop of mainland China or the PLC Frans's like.
Speaker 2: Sitting in Hong Kong, you do get this warp sense
Speaker 2: that you know, finance is the center of the universe,
Speaker 2: but there's actually other industries that are actually more important
Speaker 2: than finance. Technology. For a start, when I got to Singapore,
Speaker 2: I noticed that a lot of the technology companies I'm
Speaker 2: talking Apple, Google, Alphabet are located in Singapore. Is it
Speaker 2: arguable that maybe technology and you know, other M and
Speaker 2: cis find Singapore more attractive, Well, I.
Speaker 4: Think your spot on. In fact, Singapore has a more
Speaker 4: diversified economy in terms of GDP contribution. Manufacturing including technology
Speaker 4: in fact, is the leading GDB contributor in twenty twenty two,
Speaker 4: followed by wholesale trade including commodities trading than finance and
Speaker 4: insurance in Singapore. That's government statistics talk about. Hong Kong,
Speaker 4: Finance and insurance is the top GDB contributor with twenty
Speaker 4: tuber self GDP contribution yea, followed by public sectors also
Speaker 4: twenty one percent, i e. Government spending. Then you have
Speaker 4: maybe a property or important export as a support to
Speaker 4: the manufacturing centers in Southern China market.
Speaker 2: You want to weigh in on that.
Speaker 3: That's pretty consistent with my own personal view. And actually
Speaker 3: if you look at our business at Page Group, a
Speaker 3: similar proportion actually more comes from financial services in the
Speaker 3: region of thirty percent banking and insurance. It's just such
Speaker 3: a dominant space for us here. And I think again
Speaker 3: it's a strength that Hong Kong has that won't easily
Speaker 3: just drift off over. Of course, in a couple of years, yep.
Speaker 1: Mark during your career in this part of the world
Speaker 1: in Asia, you spent last of time in mainland China.
Speaker 1: You've watched Shenzen grow from a small town into a
Speaker 1: major tech hub. Do you see that tech component making
Speaker 1: its way any more into Hong Kong or do you
Speaker 1: think sheng Jen is going to remain the epicenter of
Speaker 1: China tech.
Speaker 3: Yeah, it's a really interesting point. I was actually there
Speaker 3: for a large chunk of that change, having really started
Speaker 3: moving our Southern China business into Shanzhen in two thousand
Speaker 3: and nine and operating there right up until COVID kicked off.
Speaker 3: I saw a lot of those changes and the evolution
Speaker 3: of that technology industry and in the Shenjan economy. And
Speaker 3: I certainly think that the policy and if you look
Speaker 3: at the sort of the central government policy with regards
Speaker 3: to the Gredabay era in Hong Kong's role within that,
Speaker 3: it does seem to suggest that Hong Kong's got a
Speaker 3: bigger role to play. But you know, Shanzen is vast
Speaker 3: and Hong Kong's got limitations in terms of land and
Speaker 3: workforce as it is, so to get businesses of the
Speaker 3: scale that you've got in Shenzen, like the Huawei and ztees,
Speaker 3: the Djis and ten cents and so on, who have
Speaker 3: so many thousands of people working for them. I don't
Speaker 3: think it's a competition. I think it's a collaboration that's
Speaker 3: probably going to see Hong Kong's role grow.
Speaker 1: Francis Chan, you just heard Mark Tibbett mention the Greater
Speaker 1: Bay Area. You have also written about the Greater Bay
Speaker 1: Area a considerable length. Talk a little bit about what
Speaker 1: lies ahead in China's vision for the Greater Bay Area
Speaker 1: Hong Kong, Juhai, Macau, Guangzhou, and what that's going to
Speaker 1: look like five or ten years from now, any thoughts.
Speaker 4: First of all, Beijing is taking a Greater Bay Area
Speaker 4: as the locomotive for its economy, and this agenda has
Speaker 4: been set for about ten years. And this area you
Speaker 4: will expect a population of eighty six million with eleven
Speaker 4: cities as being had by the four major cities, the
Speaker 4: two offshore cities Hong Kong, Macau, together with Quanto Province capital,
Speaker 4: Kuangshu and the Special Administrative Region of Sinten. So this
Speaker 4: could be a powerhouse comparing to the Tokyo Bay Area,
Speaker 4: San Francisco's Bay Area, and finally in the New York'speto Poland Area.
Speaker 4: And we're expecting this to contribute to more than one
Speaker 4: tenth of China's GDP. At the same time, it contains
Speaker 4: a lot of fast growing industries including technology as you
Speaker 4: said earlier, commerce and finance in Hong Kong, entertainment in Macau,
Speaker 4: conferencing in Hong Kong Macau, and with some backup manufacturing
Speaker 4: facilities in other smaller with the Bay area cities. So
Speaker 4: we are very autimistic on the future of this area.
Speaker 1: And you mentioned eighty six million people, that's a quarter
Speaker 1: of the US population in this quarter of Guangdong Province
Speaker 1: or what borders Guangdong Province. If you're talking about Hong
Speaker 1: Kong in terms of GDP or per capital GDP, is
Speaker 1: it not the wealthiest province in China already?
Speaker 4: Well, if you talk about the mainland Chinese cities, we
Speaker 4: still have Faijing, Shanghai. Talk about the provincial level, Arejiang
Speaker 4: and Jiangsu. Those are all very rich regional localities with
Speaker 4: very high income capital. But obviously Kwangdong is among those
Speaker 4: high income provinces. Or administrative regions. Hong Kong Macau themselves
Speaker 4: are considered as offshore special administrative regions, and obviously they
Speaker 4: have a higher income than China's average as a whole.
Speaker 4: So if you put Hong Kong Macau together with the
Speaker 4: rest of the mainland cities in the Great Bay Area, yes,
Speaker 4: we will see it as the highest income group within
Speaker 4: the mainland China.
Speaker 2: And francis which companies benefit from the growth of the
Speaker 2: Greater Bay Area.
Speaker 4: Well, first of all, we want to go for the
Speaker 4: robust finance sectors, and we identify two groups of financial
Speaker 4: firms to gain most from the flows or the communicative
Speaker 4: wealth in the region. Foreign banks with great presence in
Speaker 4: the region, including hspecs, then the CHILDED and some of
Speaker 4: the Hong Kong domicile banks like Bank of East Asia,
Speaker 4: those could be gained a lot from those cross border flows.
Speaker 4: Of course, we have the biggest banks in the country ICBC,
Speaker 4: Bank of China and China Construction Bank. They are presence
Speaker 4: both in the mainland cities in the Greater Bay Area
Speaker 4: and also in Hong Kong Macau and they will also
Speaker 4: gain a lot from these flows. As Hongkong Macau get
Speaker 4: more integrated into the Greater Bay Area.
Speaker 1: Francis Chan Mark tibbets what do you see as far
Speaker 1: as the breakdown of nationalities where the expands come from.
Speaker 1: Do you see mainland China being the primary source of
Speaker 1: expans to Hong Kong or do you see any of
Speaker 1: the non China nations of generating an inflow in the future.
Speaker 3: I think that inflow from mainland China will absolutely be
Speaker 3: the dominant inflow of talent in the next couple of
Speaker 3: years and beyond that, primarily because Mandarin as a language
Speaker 3: is going to be so important in the business ecosystem
Speaker 3: of Hong Kong. I definitely think that Hong Kong will
Speaker 3: have plenty of international elements to its market, but the
Speaker 3: talent coming in from let's say Europe or the US
Speaker 3: or South America, I think these will be at the
Speaker 3: more senior end, perhaps with the exception of the education need.
Speaker 3: I think somebody spoke earlier about academic I've certainly heard
Speaker 3: recently that there has been a lot of influx of
Speaker 3: teachers from further afield.
Speaker 1: Do you see Mandarin as being the primary quote language
Speaker 1: of business in China and Hong Kong much as English
Speaker 1: as the language of business and much of the rest
Speaker 1: of the world.
Speaker 3: So increasingly so. I think anybody that is in Hong
Speaker 3: Kong in a customer facing role is largely required to
Speaker 3: be able to speak Mandarin and Cantonese. Absolutely. I think
Speaker 3: the exceptions lie more perhaps where it's a leadership role
Speaker 3: or more strategical, or maybe in more international markets where
Speaker 3: trade with China is concerned, that Mandarin's absolutely a prerequisite.
Speaker 2: And mark outside of the language requirement. What are the
Speaker 2: skills do employees want these days? Has anything changed over
Speaker 2: the last few years.
Speaker 3: Technology has become so intertwined with every aspect of business,
Speaker 3: and every organization these days in some way is also
Speaker 3: a technology company aside from the core of what they do.
Speaker 3: So I think technical ability the ability to use various
Speaker 3: new technologies, whether that be even as simple as social media,
Speaker 3: from a relationship management standpoint, right through to actually being
Speaker 3: able to write code and so on. I think technological
Speaker 3: language and userability as well as spoken language is probably
Speaker 3: the next biggest thing.
Speaker 1: Mark During your early days in Hong Kong and mainland China,
Speaker 1: could you have imagined the events of the past few
Speaker 1: years that have shaped the way the job market is today.
Speaker 1: Was it foreseeable. How did that strike you.
Speaker 3: I've been in and around Hong Kong pretty much all
Speaker 3: my life, I think pre nineteen ninety seven, it was
Speaker 3: kind of hard to know much really, certainly as a
Speaker 3: young student as I was then, about what the future
Speaker 3: might look like. But having been back here for fifteen
Speaker 3: years and working on both sides of the border, a
Speaker 3: good decade spent helping to build our business in mainland China,
Speaker 3: I would say yes, economically speaking, commercially speaking, I think
Speaker 3: the direction of travel has been more local than global,
Speaker 3: and more China centric than international in terms of the
Speaker 3: way I seen in Hong Kong developing and needing to
Speaker 3: be part of the bigger China strategy.
Speaker 1: You're listening to Asia Centric from Bloomberg Intelligence. By the way,
Speaker 1: if you like what you hear, and we hope you do,
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Speaker 1: from our listeners. And speaking of young people, we wanted
Speaker 1: to get the perspective of somebody in that age bracket.
Speaker 1: Peter Lao, Associate analyst with Bloomberg Intelligence. You were born
Speaker 1: in mainland China, you grew up in shin Jen, You
Speaker 1: came to Hong Kong during your high school years, you
Speaker 1: spent college here. You gave up your hooku, your mainland
Speaker 1: residency to come to Hong Kong as a permanent resident.
Speaker 1: Those are big decisions for somebody, especially early in life.
Speaker 1: Talk about how that came about.
Speaker 5: Well, I think it's not necessarily my decision. It's probably
Speaker 5: my parents' decision. Fair enough, there's a rationale behind. I
Speaker 5: think they definitely look at Hong Kong's access to the
Speaker 5: international education or even markets. Right. For example, if you're
Speaker 5: your kid in China, you're going to go through a
Speaker 5: lot of exams gau Kau and you're probably only going
Speaker 5: to land one of the top schools in China. But
Speaker 5: whereas you should do go through the Hong Kong education system.
Speaker 5: You can actually choose China, you can choose local universities
Speaker 5: in Hong Kong, you can go to UK, Australia US.
Speaker 2: So it opened up options for really, that's.
Speaker 5: One I'm saying. So I think that's also a great
Speaker 5: pitch to a lot of the talents coming to Hong
Speaker 5: Kong because they can see that, oh I can plan
Speaker 5: for my kids, I can also plan for my job
Speaker 5: and stuff like that. So I think that's what makes
Speaker 5: Hong Kong an interesting place to them.
Speaker 1: Are so many twenty somethings, thirty somethings, even forty somethings.
Speaker 1: Are they running front something or are they running to something?
Speaker 1: When they make that decision?
Speaker 5: Well, I think these Mainian talents they're runn into Hong Kong.
Speaker 5: I believe that first of all, they thought about their
Speaker 5: etche across a lot of the markets London, New York,
Speaker 5: Hong Kong and Singapore. Hong Kong and singapare only places
Speaker 5: that these Melian talents can actually leverage their language skills
Speaker 5: right right, fair enough Mandarin? Right, you got to know
Speaker 5: the language in order to do due diligence or you know,
Speaker 5: do acrid research whatever in Hong Kong. And Hong Kong
Speaker 5: has that soil to unleash their potentials because we have
Speaker 5: so many businesses with China, and I think that's where
Speaker 5: they think, right, they see, oh, this is a place
Speaker 5: that I can actually build up a career. I can
Speaker 5: leverage my skills, and the tex is very favorable and
Speaker 5: the work environment here is also great compared to China.
Speaker 5: We know about this kind of an evolution thing in
Speaker 5: China and in Chinese cons right.
Speaker 2: And Peter, do you see a lot of people in
Speaker 2: your situation staying in Hong Kong or do they use
Speaker 2: Hong Kong as a stepping stone to maybe go to
Speaker 2: New York, London, Singapore.
Speaker 5: That's a very good question.
Speaker 2: It depends.
Speaker 5: I think for finance, for banking, Hong Kong essentially gives
Speaker 5: them a great platform. I don't think a lot of
Speaker 5: them will love to, you know, jump around, because here
Speaker 5: you can get a lot of business done, right you go,
Speaker 5: China can get up deals done. But for technology, I
Speaker 5: would say that's a different situation because as we talked about,
Speaker 5: Hong Kong doesn't have that many tech companies headquartered here,
Speaker 5: and I would say the evolution of technology here is
Speaker 5: a bit slow compared to other markets or other countries.
Speaker 5: So I think still for tech talent, they're gonna hesitate
Speaker 5: and they probably gonna think about where they go, and.
Speaker 2: Mostly Silicon Valley or sea or or maybe even bacticians in.
Speaker 5: Vacticians in exactly yeah, because those areas have the group
Speaker 5: at the circle, have the soil I would say, so,
Speaker 5: you know, meeting greets with people and to develop products together.
Speaker 2: Mark, you're a senior executive at the Page group, you
Speaker 2: must get this question all the time. When university grad
Speaker 2: speed to you, they must say, like, what should I
Speaker 2: do to get ahead? What advice to give them?
Speaker 3: I think anybody looking for a job, the first piece
Speaker 3: of advice that I would give is to network without shame. Okay,
Speaker 3: being an ex pat when you move somewhere new that
Speaker 3: the key is to accept every invitation and go meet
Speaker 3: as many people as possible, and then you'll find your channel,
Speaker 3: you find your lane. And I think this is a
Speaker 3: big risk posting covid is that people are a little
Speaker 3: bit averse to meeting people.
Speaker 2: They're want Zoom meetings.
Speaker 3: Yeah, and you know that they want to be able
Speaker 3: to sort of swite right to do everything in their life.
Speaker 3: It's a it's a convenience thing, right, But looking for
Speaker 3: a job as a human thing. And you know you
Speaker 3: can apply online, but in reality you're going to get
Speaker 3: a job by meeting people and impressing.
Speaker 2: Okay, yeah, so be a hardcore networker.
Speaker 3: Absolutely in person.
Speaker 1: Though Zoom has not up ended the entire career management process,
Speaker 1: how's it.
Speaker 3: I don't think so. I think though, that it's proving
Speaker 3: more complicated than I thought it would to unwind some
Speaker 3: of these habits. But I think zoom AD's convenience, if anything,
Speaker 3: it's definitely good for recruitment. It allows people to look
Speaker 3: for jobs a little bit more aggressively. It allows them
Speaker 3: to have initial interviews without disrupting their current existing work life.
Speaker 3: But most people prefer to make big decisions like that
Speaker 3: having looked someone in the eyes and established trust and rapport.
Speaker 1: Our guests, I've been Mark Tibbitt's managing director with Page
Speaker 1: Group in Hong Kong. Francis Chan and Peter Lau, both
Speaker 1: with Bloomberg Intelligence, are fascinating exchange about jobs, the future,
Speaker 1: and Hong Kong's evolving niche. Gentlemen, it's been a pleasure
Speaker 1: and your insights have given all of us a lot
Speaker 1: to think about.
Speaker 3: Thank you, Thank you, Thanks having.
Speaker 1: I'm Tom Corbett in Hong Kong.
Speaker 2: And I'm John Lee. This podcast was edited by Clara
Speaker 2: Chen and you've been listening to the Asia Centric podcast