Hong Kong 'racing against time' to retain financial hub status HONG Kong is "racing against the clock" to retain its status as China's premier international financial hub as the Chinese economy rapidly internationalises, according to the chief executive of the Hong Kong stock exchange. Charles Li, chief executive of Hong Kong Exchanges and Clearing, told an Asian Financial Forum breakfast yesterday that Hong Kong was currently insufficiently prepared to deal with the challenge to its regional hub status presented by the internationalisation of Chinese cities such as Shanghai.