Japan bids to become Asia's financial center

Sep 04, 2020 | News On Japan

Sep 04, 2020 (NHK) - Japan is making a bid to become Asia's premier financial hub as some institutions exit Hong Kong over political and legal concerns.

Officials plan to offer administrative steps in English, removing the language barrier that makes it difficult for companies to set up operations.

Japan is competing with other Asian centers to attract financial firms, including Singapore which has a lower tax rate.

Until now, foreign firms in Japan have had to provide documentation in Japanese in their dealings with authorities.

Japan's government is also planning to increase the amount of English-language information it makes available about education and healthcare services for company employees.

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