FT: “Tokyo woos hedge funds in crisis-hit Hong Kong”

Leo Lewis and Don Weinland for the Financial Times (paywall):

The Tokyo government has embarked on a discreet bid to woo hedge funds away from crisis-hit Hong Kong, dispatching a delegation to the city this week on a 48-hour mission to persuade money managers to relocate to the Japanese capital.

Government officials have organised a flurry of meetings between finance executives from Japan and dozens of Hong Kong hedge funds in an effort that has the unofficial but explicit blessing of Tokyo governor Yuriko Koike, according to people familiar with the lobbying push.

Interesting financial markets gossip, but I wonder how competitive their pitch is compared to Singapore’s? Tokyo might be getting easier for non-Japanese people to stay, but people tend to compare Singapore and Hong Kong for the taxes.