Singapore soars as regional business hub

News Snapshot:

The survey provides a snapshot of Australian business sentiment in South-East Asia as companies shift investment away from China. The Albanese government is also encouraging Australian companies to focus their attention on fast-growing ASEAN economies following years of tensions with China where economic growth is slowing. Some companies, including two of Australia’s big four banks – National Australia Bank and Westpac – have exited Hong Kong over concerns about the city’s national security laws as part of a broader crackdown on freedoms by Beijing. Some 45 per cent of companies surveyed said the situation in Hong Kong, which endured three...