Lately, there has been an increased unrest in Hong Kong as many real estate investment firms target Hong Kong investors through social media ads and events.
Hong Kong’s national security law that came into effect earlier in June and is seen as the main reason for the increased level of worry and anxiety among the citizens. The law poses a threat to Hong Kong’s autonomy, further triggered by the strife in the U.S.-China trade war.
Last month, ads promoting emigration and international real estate investments swamped Hong Kong users’ social media platforms inducing a spike in inquires and demand for the same. This comes in an uncertain time when global tech giants like Facebook Inc., Google, Microsoft Corp., and Twitter Inc. have suspended processing user data requests from Hong Kong authorities, with growing concerns that the law will criminalize protests.
As per a survey by the American Chamber of Commerce, many US-based companies in Hong Kong are now planning to move capital, assets and business, as they are unable to gauge the law’s full implications. Yet the main interest comes from U.K. where ads referring to granting citizenship to Hong Kong residents through a BNO have caused a rife, leading to increased spikes in the U.K. property market businesses.