Pension withdrawals by departing Hong Kong residents hit US$270 million

Residents leaving Hong Kong withdrew HK$2.095 billion (RM1.122 billion) from Mandatory Provident Fund (MPF) pension accounts in the second quarter, up 111.6 percent from the same period in 2020.

A sweeping security law imposed on Hong Kong in June 2020, aimed at anything Beijing regards as subversion, secession or terrorism, prompted residents of the city to move tens of billions of dollars to other countries including Canada, where thousands hope to forge a new future...