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Hong Kong recruiters are struggling to hire overseas graduates for the financial services and legal industry in another sign the Asian hub is losing its luster.

Amid a clampdown on dissent and stringent “COVID zero” policies, the Chinese territory has seen an exodus of experienced financial professionals. Now headhunters say junior talent for investment banks and law firms is also harder to find and retain, with global recruitment firm Ambition reporting a 40% decline in candidates for entry-level positions compared to before the pandemic.

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