Commentary If the “Hong Kong security law” couldn’t crater Hong Kong’s financial services industry, perhaps its “zero-COVID” policy could? That’s what the Chinese city is grappling with, as expats within its financial services sector head for the exits due to the city’s draconian quarantine, lockdowns, and restrictions to combat the ongoing CCP virus epidemic. Hong Kong has kept up restrictive quarantines along with strict entry rules since 2020, even as other financial markets in Asia open up. Returning residents from most locations must quarantine for up to three weeks regardless of vaccination status. The punishing three-week quarantine was only recently lowered to two weeks after complaints from the Hong Kong financial sector. Despite all the restrictions, “zero-COVID” is far from reality. Instead, infection numbers are getting worse by the day with health officials worrying about city’s unvaccinated population. As of mid-February, Hong Kong has been experiencing record infection rates. The …
Is Hong Kong’s Financial Hub Status in Jeopardy?
February 10, 2022
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