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Hong Kong’s monetary authority has questioned HSBC over its plan to establish an AI centre in Singapore, the South China Morning Post reports, citing sources. HSBC announced in July that the centre would open by year-end and hire 100 AI specialists.
Why it mattersThe reported questions put a sharper edge on a regional contest for AI expertise: HSBC’s largest market is Hong Kong, but its planned hub is across the water in Singapore. The report does not establish that the HKMA has taken formal action or that HSBC plans to change course. A regulator asking questions is not the same as a regulator issuing an order, but the choice of location is now part of the story.
Discuss: Should a bank’s largest market carry more weight when it chooses where to build an AI hub, or should the decision follow talent and business needs?
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