Home Markets Hong Kong’s strict quarantine rules threaten to erode allure of financial hub

Hong Kong’s strict quarantine rules threaten to erode allure of financial hub

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A child plays in front of skyline buildings, in Hong Kong, China July 13, 2021. REUTERS/Tyrone Siu/File Photo

  • Strict COVID restrictions trigger backlash in finance industry
  • Hong Kong leader says relaxing rules altogether not ‘wise move’
  • Some professionals weighing up whether to remain in city
  • HK govt tried to placate financial sector with little success

HONG KONG, Aug 31 (Reuters) – Hong Kong’s government is facing growing pressure from business lobby groups to open borders or risk losing executives and investment as it shows no sign of easing one of the world’s strictest quarantine programs.

Working on billion-dollar deals locked in hotel rooms for three weeks is becoming common for bankers in Asia’s financial hub even as counterparts in places like London and New York go straight back to their offices after travel.

Hong Kong’s decision in August to increase mandatory hotel quarantine to three weeks for arrivals from most countries has prompted a backlash…

Click here for full article…www.reuters.com