Coronavirus: Hong Kong expands quarantine waivers for executives in more industries to keep financial hub’s business vibes abuzz

Name: Hong Kong tycoons offer HK$10.8 million flat to boost Covid-19 jabs
Uploaded: 2021-05-31T10:06:38.000Z
Duration: 1 min 26 s
Description: Hong Kong tycoons offer HK$10.8 million flat to boost Covid-19 jabs

Each of the four financial regulators can exempt four vaccinated, senior executives of each company from quarantine when they visit the city

The four bodies are the SFC, the HKMA, the Insurance Authority (IA) and the HKEX

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Hong Kong is expanding a programme that would allow senior executives and directors of the city’s biggest listed companies to travel to Hong Kong with limited or no quarantine. Photo: Felix Wong

Chad BrayandEnoch Yiu

Published: 6:06pm, 31 May 2021Updated: 4:37pm, 1 Jun 2021

Hong Kong’s government is expanding the scope of its quarantine exemptions, potentially enabling thousands of senior executives to resume travelling, as the absence of new local Covid-19 cases bolstered confidence to sustain deal making, relationships and businesses in Asia’s financial hub.

Each of the four regulatory bodies responsible for the city’s financial services will be able to exempt four vaccinated, senior executives of each company from three weeks of quarantine when they visit the city, according to the spokeswoman for the Financial Services and the Treasury Bureau (FSTB).

“Hong Kong has a lot of financial firms and listed companies which have the need to travel around the world to maintain their business operations,” according to the spokeswoman. “This is important to maintain the city as an international financial centre.”

Hong Kong reported no local infections of the Covid-19 last Friday, the 28th consecutive day of zero new cases that prompted the government’s pandemic adviser Professor Yuen Kwok-yung to declare the end of the city’s so-called fourth wave of outbreaks. Hong Kong last recorded a local case with an untraceable source on April 23.

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Hong Kong tycoons offer HK$10.8 million flat to boost Covid-19 jabs

The Securities and Financial Commission (SFC), which regulates stockbrokers and fund managers working in Hong Kong, on Friday outlined an exemption for up to four vaccinated, senior executives – those with global or regional roles – to travel to and return from other places to the city without having to be quarantined for 21 days each for those who are not vaccinated.

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