Hong Kong businesses cancel promotional events, launches and spring lunches as coronavirus fear grips city
- Brokerage body cancels year’s biggest industry event
- Manulife delays launch event of retirement mutual fund, property developer HKR International cancels media launch of Discovery Bay projects
Business events ranging from exhibitions, property sales and financial product launches to spring receptions have either been cancelled or delay across Hong Kong, as a result of the Wuhan coronavirus outbreak.
The cancellations, the worst since the 2003 severe acute respiratory syndrome (Sars) outbreak, are likely to affect the sales of financial products and real estate in the city, one of the world’s largest international financial centres, analysts said.
A joint annual spring reception organised by 10 industry bodies that represent 600 Hong Kong stock brokerages, to be held on February 5, is among events cancelled recently.
“As a result of the outbreak, we have decided to cancel the event, as we are concerned about the health and safety of all attendants and staff,” said Gordon Tsui, chairman of the Hong Kong Securities Association.
Tsui said the annual event, usually attended by more than 1,000 traders and government officials, is the largest annual event of the securities industry in the city. This year’s event cost about HK$300,000 (US$38,598) to organise, and the cancellation means the organisers will have to give up a deposit equally half of this amount.
“That is expensive but we still need to cancel it, as we need to avoid a crowded event. We did not opt for a delay, as we do not know when the outbreak will end,” he said.
