The government has decided to focus on areas such as Fukuoka Prefecture and the Kansai region centered on Osaka Prefecture in its bid to attract foreign financial institutions, shifting from its Tokyo-focused approach to creating a global financial hub in the wake of the coronavirus pandemic, sources familiar with the matter said Tuesday.
The addition of the two areas also comes as the national security law in Hong Kong has raised concern about the semiautonomous region's status as a major financial hub in Asia, and the government hopes that these areas will become a magnet for companies and skilled people.
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