In recent years, the developments of the financial centers in Hong Kong and Singapore, two of the 'Four Asian Tigers' are declining.

The research team at ANBOUND Consulting is of the view that in addition to the factors attributable to global economic situation, their close ties with the economy in mainland China could be an important reason to their decline.

Over the past ten years, the development of Hong Kong and Singapore are firmly tied to the "China’s chariot", when China experiences economic downturn, this affects the growth engines in Hong Kong and Singapore. In the future, the economic growth in these regions will continue to be affected by the economic development in China.