Hong Kong’s relationship with Bermuda, the Cayman Islands, and the BVI

Roughly 45 % of the market capitalization of the Hong Kong Hang Seng Index consists of companies whose registered offices are in Bermuda or the Cayman Islands. This remarkable statistic has caught the attention of Bloomberg and other international media recently. See, for example:



But this is not exactly ‘new’ news, with many historic connections existing between Bermuda and Hong Kong, as well as the Cayman Islands and the BVI:



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