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Hong Kong's Covid policy undermining financial hub status: Industry group

The group warned on Monday that Hong Kong's zero-Covid policy threatens city's financial hub status

Hong Kong
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Hong Kong (Photo: Bloomberg)

Reuters HONG KONG
A financial industry group warned on Monday that Hong Kong's zero-COVID policy and strict quarantine requirements for international travellers threatens to undermine the city's status as a financial hub.

The Asia Securities Industry and Financial Markets Association (ASIFMA) said a survey of members, including some of the world's largest banks and asset managers, showed 48% were contemplating moving staff or functions away from Hong Kong due to operational challenges, which included uncertainty regarding when and how travel and quarantine restrictions will be lifted.
 
Hong Kong has some of the most stringent travel restrictions in the world and is virtually COVID-19

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