X
  • About
  • Advertise
  • Contact
  • Events
Subscribe to our Newsletter
  • News
    • Markets
    • Regulation
    • Super
    • M&A
    • Tech
    • Appointments
  • Podcast
  • Webcasts
  • Video
  • Analysis
  • Promoted Content
No Results
View All Results
  • News
    • Markets
    • Regulation
    • Super
    • M&A
    • Tech
    • Appointments
  • Podcast
  • Webcasts
  • Video
  • Analysis
  • Promoted Content
No Results
View All Results
No Results
View All Results
Home News

ScoMo has bet the future on Hong Kong

ScoMo has turned to Hong Kong to shape Australia’s economic recovery in a move that China has blasted as “gross interference”.

by Lachlan Maddock
July 10, 2020
in News
Reading Time: 2 mins read
Share on FacebookShare on Twitter

The government has ended its extradition treaty with Hong Kong and will loosen visa restrictions in a bid to attract companies and skilled workers as China moves to impose a draconian national security law across the region. 

“As a result of changes that have occurred in Hong Kong, there will be citizens of Hong Kong who may be looking to move elsewhere, to start a new life somewhere else, to take their skills, their businesses and things that they have been running under the previous set of rules and arrangements in Hong Kong, and seek that opportunity elsewhere,” Mr Morrison told media. 

X

“(The immigration system) has the best controls, it has the best targeting, it has the best focus, and immigration as a result has been a pillar of the strength of our nation, not just our economy but our society as well.”

Immigration is expected to remain subdued through 2021, leaving a population shortfall of 250,00 less than what was forecast before COVID-19, according to Deloitte Access Economics. An injection of businesses and skilled workers could be a decisive factor in kickstarting Australia’s recovery and shape its economic trajectory for decades to come in much the same way that Australia has previously welcomed refugees in the wake of the Tiananmen Square Massacre and Lebanese Civil War. 

But the move has been met with fury from China, with the Chinese embassy in Canberra denouncing it as “hypocrisy” and a “double standard”. 

“China strongly deplores and opposes the groundless accusations and measures announced by the Australian government with regard to Hong Kong, which is a serious violation of international law and basic norms governing international relations, and a gross interference in China’s internal affairs,” the Chinese embassy said in a statement. 

Australia has found itself in Beijing’s crosshairs several times in recent months, with China slapping tariffs on key barley exports in response to the Prime Minister’s call for an independent inquiry into the origins of COVID-19. And with rumours swirling that China was behind a series of high-profile cyber attacks on critical infrastructure and government offices, this latest move could well provoke an escalation in the already simmering conflict.

Related Posts

Yield curve shift sets stage for global rotation in 2026

by Olivia Grace-Curran
November 24, 2025

Falling cash yields are set to upend institutional portfolio positioning in 2026, according to the Franklin Templeton Institute (FTI), as...

Australia’s wealthy hit record as caution intensifies

by Adrian Suljanovic
November 24, 2025

Australia’s high-net-worth (HNW) population has risen to 760,000, controlling a record $4 trillion in assets, according to LGT Wealth Management’s...

Small-cap upside remains hopeful despite the noise

by Georgie Preston
November 24, 2025

The smaller end of the Australian share market has experienced a resurgence as of late, as investors move away from...

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

VIEW ALL
Promoted Content

Global dividends hit a Q3 record, led by financials.

Global dividends surged to a record US$518.7 billion in Q3 2025, up 6.2% year-on-year, with financials leading the way. The...

by Capital Group
November 18, 2025
Promoted Content

Why smaller can be smarter in private credit

Over the past 15 years, middle market direct lending has grown into one of the most dynamic areas of alternative...

by Tim Warrick, Managing Director of Principal Alternative Credit, Principal Asset Management
November 14, 2025
Promoted Content

Members Want Super Funds to Step Up Security

For most Australians, superannuation is their largest financial asset outside the family home. So, when it comes to digital security,...

by MUFG Pension & Market Services
October 3, 2025
Promoted Content

Boring Can Be Brilliant: Why Steady Investing Builds Lasting Wealth

In financial markets, drama makes headlines. Share prices surge, tumble, and rebound — creating the stories that capture attention. But...

by Zagga
October 2, 2025

Join our newsletter

View our privacy policy, collection notice and terms and conditions to understand how we use your personal information.

Latest Podcast

Podcast

Relative Return Insider: Economic shifts, political crossroads, and the digital future

by InvestorDaily team
November 13, 2025
After more than two decades, InvestorDaily continues to be an institution that connects and influences Australia’s financial services sector. This influential and integrated media brand connects with leading financial services professionals within superannuation, funds management, financial planning and intermediary distribution through a range of channels, including digital, social, research, broadcast, webcast and events.

Subscribe to our newsletter

View our privacy policy, collection notice and terms and conditions to understand how we use your personal information.

About Us

  • About
  • Advertise
  • Contact
  • Terms & Conditions
  • Privacy Collection Notice
  • Privacy Policy

Popular Topics

  • Markets
  • Appointments
  • Regulation
  • Super
  • Mergers & Acquisitions
  • Tech
  • Promoted Content
  • Analysis

© 2025 All Rights Reserved. All content published on this site is the property of Prime Creative Media. Unauthorised reproduction is prohibited

No Results
View All Results
NEWSLETTER
  • News
  • Markets
  • Regulation
  • Super
  • M&A
  • Tech
  • Appointments
  • Podcast
  • Webcasts
  • Promoted Content
  • Events
  • About
  • Advertise
  • Contact Us

© 2025 All Rights Reserved. All content published on this site is the property of Prime Creative Media. Unauthorised reproduction is prohibited