HSBC offers vaccinated staff in Hong Kong two days of extra leave

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Authorities in Hong Kong leaned on companies to help revive a faltering inoculation drive.

HSBC, which employs more than 20,000 in the city and counts Hong Kong as its biggest market, is giving all vaccinated staff two days off. — HSBC Holdings Plc and other major banks and brokers operating in Hong Kong are doling out cash credits, free stocks and days off to get more people vaccinated after authorities in the financial hub leaned on companies to revive a faltering inoculation drive.

With strict quarantine and social distancing rules, Hong Kong has been one of the best places in the world in containing the virus but its low vaccination rate compared with competitors such as New York and London is now emerging as a major risk. Asia on the whole is a laggard, even though China has lately ramped up its inoculations at a record pace.

The moves come after Hong Kong’s de-facto central bank urged financial institutions to follow the government in giving extra days off to vaccinated staff. Hong Kong authorities are increasingly looking to enlist local businesses and entities to drive inoculations. The Beijing-backed government has struggled to convince residents in an atmosphere of mistrust following widespread anti-China protests in 2019.

Local businesses are now responding to the call with goodies. Vision Finance Group is giving out free stocks worth as much as HK$1.5 million to vaccinated clients, while uSmart Securities is handing Sino Pharmaceutical Ltd. and Pfizer Inc. shares to new clients that have gotten the shots. China Construction Bank is offering as much as HK$128,000 in free spending credits as a lucky draw for customers.

 

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