There are several reasons why the financial sector of Hong Kong has been able to attain this enviable status. Among these reasons are the high level of legal regulation which is imposed on the financial sector of Hong Kong, its connections to mainland China, the high degree of ease of doing business which exists there, and its openness to contributions made by foreign businesses and their owners. Thus, one would expect that Hong Kong’s financial sector would find it easy to develop as rapidly and exponentially as it has.
However, all of these advantages mentioned does not mean that there are no difficulties awaiting those who enter the finance sector of Hong Kong. Just as is true anywhere else in the world, there are difficulties with which anyone who enters this industry must contend before achieving success within the sector.
One of the primary challenges which anyone who enters Hong Kong’s finance sector must face is that of the high level of competition which is posed by other leading financial hubs of the Asia-Pacific region. Cities such as Tokyo, Shanghai, and Singapore, among others, have also established themselves as regional and international powerhouses in the global financial scene and therefore serve as direct competition to the financial sector of Hong Kong and everyone working within it. Furthermore, the Asia-Pacific region is the region of the world which consistently posts the highest rate of economic growth. Therefore, the high level of competition which exists in Hong Kong’s financial sector could potentially dissuade a person who is not prepared to handle it from entering the industry.