Hong Kong tycoons start shifting their wealth outside of its borders because of proposed extradition law

Hong Kong's wealthiest residents are moving their fortunes out of Hong Kong because of the new extradition law that the Hong Kong government is currently discussing, Reuters writes. The local government is planning to allow extraditions to China if someone is a criminal suspect.

The extradition law will cover both Hong Kong residents as well as foreign and Chinese nationals living or travelling in Hong Kong. It would also allow freezing and confiscating assets connected to fina