Quarantine rules drive foreigners out of Hong Kong
Hong Kong's strict quarantine rules are driving foreigners out of the city. Most affected are professionals and company managers who have close personal and business links overseas and whose job requires them to travel frequently.
In the first nine months of 2021, the government approved just over 10,000 visas for foreign professionals, down from more than 40,000 in all of 2019, according to official figures. During the past year, JPMorgan has lost 20 people of managing director-level in the city, about 10 per cent of its staff of about 200.
Last October nine of 10 members surveyed by the Asia Securities Industry and Financial Markets Association said they found it difficult to operate in the city because of the Covid policies. Half said they were considering moving staff or functions away from Hong Kong. ...