Covid isolation hurting Hong Kong's reputation: industry group

The warning came as a survey showed almost half of major international banks and asset managers are considering moving staff out of the city as they struggle to retain employees or attract fresh talent.

On Monday, the Asia Securities Industry and Financial Markets Association published a letter to Finance Secretary Paul Chan that warned Hong Kong was being left behind while rival financial centres such as London, New York, Paris, Singapore and Tokyo were learning to live with the coronavirus. Nearly three quarters complained they were having trouble retaining or attracting talent while nearly half said they were considering moving some staff and operations.

The travel curbs come as Hong Kong is being remoulded in authoritarian China's own image after huge and often violent democracy protests two years ago.

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