Hong Kong risks exodus over extended COVID-19 isolation, Euro chamber says

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Hong Kong may not reopen until early 2024 because of its strict COVID-19 policies, which could trigger an exodus of foreign firms and staff and jeopardize the city's role as a financial hub, its European Chamber of Commerce said in a draft report.

The most likely scenario for Hong Kong would be that it would not reopen until China rolls out its mRNA vaccine across its 1.4 billion population, which could take until late 2023 or early 2024, its European Chamber of Commerce said in a draft report. REUTERS/ Tyrone Siu/ File Photo

In that case, the chamber said there was a risk of a "cascade effect" of firms leaving the Asian financial hub. Hong Kong has seen a surge of infections this month, which authorities have struggled to control. Health authorities reported 107 new cases on Wednesday, the fourth consecutive day of triple digit infections.

The departure of international talent could also undermine the city's "potential to maintain world class universities," it said.Unlike the mainland, Hong Kong depends on business travelers and imported goods. Only about 70% of people in Hong Kong have been double-vaccinated compared with 91% of Singapore's eligible population.The chamber outlined other scenarios of "average likelihood" including the possibility of an uncontrolled outbreak in the mainland leading to Hong Kong sealing its boundary with China and reopening with the rest of the world.

 

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balita about hk pero di kayo nagbalita kon ano magandang nagawa ni president duterte wa na pod moy klaro gma7 hapit napod mo parehas sa abias cbn 😂😂

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