Hong Kong has pardoned the chief financial officers and regulators in some of the companies mentioned in the strict border segregation laws, prompting trade groups to expand certain sectors.
Banks, insurers and licensed asset managers and financiers in Hong Kong can ask two officials to visit and two to return a month each month without isolation if they get vaccinated and go “to do business”.
Managers of large companies with large stock bribes in Hong Kong can also register for a waiver if their operating procedures are “essential to doing business”. The new rules, some of which were posted on the Hong Kong government website on Friday, are effective immediately.
The idea followed concerns that Hong Kong was opening up more slowly than any other business location due to the process itself with much lower vaccination rates than London, New York and Singapore. The financial services sector is made up of more than 21% of the local resources.
Tara Joseph, President of the American Chamber of Commerce in Hong Kong, said: “It’s a good development and we think it should be continued at all levels.”
But a number of banks have warned that they still want to be fully informed of their demands, including what it means to be “big”, and to look at how they can protect employees from going back where they do not exclude.
“Hong Kong is far from other economic countries and now we are not,” said an official at a bank in Wall Street.
A spokesman for the US second bank said the pardon was seen as a “1% special aid”, but that it would allow Hong Kong to remain as a global economic center.
But Frederik Gollob, chairman of the European Chamber of Commerce in Hong Kong, said the government should “go further” on this because it seems that the need for the city’s residents helps to produce talent.
“There is a growing risk of this scourge,” Gollob said, adding that businesses want to ease the burden on those who have been vaccinated. “The government did not agree with Vaccination work a clear opening method. ”
HSBC said the pardoning of pensioners “would boost economic activity in various sectors. Protecting public health and allowing the business to resume a smooth transition could be a thing of the past.”
Travelers from eight “dangerous” countries including the UK, India and Brazil – and almost all who have not been vaccinated – are required to stay alone at a hotel within 21 days of their arrival in Hong Kong. Vaccine importers from all over the world must have a 14-day hotel, with the exception of those in Australia and New Zealand, who must be isolated for seven days.
International banks in Hong Kong have held talks with Asifma, an Asian market-based company, about forcing the government to abolish immigration laws from the end of last year. Some fear that the law could undermine the sector as a global economic center.
The crisis has grown because vaccine prices remain in the city. About 15% of Hong Kong’s population is fully vaccinated, compared with 28% in Singapore, 27% in London and 43% in New York City.
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