French-based aerospace company Airbus has been in a Brexit "holding pattern" before committing itself to its future in the United Kingdom.

Japanese electronics company Panasonic and banks Nomura and Daiwa have moved their European headquarters from the UK, which currently absorbs 40 percent of Japanese investment in the EU, and a report published by Ernst and Young revealed that financial institutions have shifted 800 billion pounds ($1.03 trillion) of assets out of the country as contingency planning for a no-deal Brexit.

According to the City of London Corporation, Britain's financial sector employs 2.2 million people, and contributes 12.5 percent of the country's GDP, generating 72 billion pounds in tax revenue－so to the outsider, evacuation in high finance coming on top of a slump on the high street might look like another example of the Brexit contagion May is struggling to contain.

But according to Christian May, editor of London daily business newspaper City AM, things are not quite that black and white.

"Much of the financial services sector conversation has been about jobs," he told China Daily, "but what's more important－and hasn't had as much coverage－is the conversation about capital and assets.

"So far only a few thousand jobs have moved, which, compared to what was predicted is pretty modest. In fact, probably the biggest impact of Brexit on the labor market so far has been the creation of new jobs in Europe so institutions can continue to serve their clients," May said.

Other locations in EU

And while significant assets－800 billion pounds, or around 8 percent of Britain's financial services sector－have indeed moved to other locations in the European Union, this is not necessarily down to Brexit fears. It is pure practicality.

"These moves aren't done because of concern about Brexit, it's because there are rules and regulations about serving EU clients from within EU financial centers. To carry on doing this, some institutions have moved assets. That's not to say 8 percent isn't significant, but it's planned. In fact, Britain's financial services sector is one of the most advanced sectors when it comes to no-deal planning," May added.