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.
Hong Kong has some of the most stringent travel restrictions in the world and is virtually COVID-19 free, however unlike regional rival Singapore, which is slowly re-opening its borders, the Chinese-ruled city has no public plan for opening up to international travellers. "Hong Kong’s status as an is increasingly at risk along with its long-term economic recovery and competitiveness as a premier place to do business," Mark Austen chief executive of Asifma wrote in open letter to Hong Kong's financial secretary Paul Chan.
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