Translated by: MOS Finance Team – Xia

To date, Hong Kong has only had about 13,000 coronavirus infections out of a population of 7.4 million, much lower than most places in the world. However, as a result of following Beijing’s “zero-COVID” policy, Hong Kong has implemented the world’s strictest entry rules, allowing only local residents to return and imposing a mandatory three-week-long self-funded quarantine on arrivals from most countries. Even so, with 140 new cases of infection on Sunday, it is clear that the strict quarantine measures are not helping to “zero COVID”. At this point, there is no signs of the government easing those restrictions.

As a result, more expatriates are considering leaving Hong Kong, headhunters and industry executives told Reuters. Practitioners at global banks, asset managers and corporate law firms are also likely to leave after receiving their year-end bonuses in the first quarter. In a recent member survey conducted by the American Chamber of Commerce in Hong Kong, more than 40 percent of respondents said they would be more likely to leave Hong Kong, with most citing international travel restrictions as the leading factor.

According to the Hong Kong Census and Statistics Department, the total number of visa applicants from all countries under the ‘general employment policy’ fell by a third last year to 10,073. Applicants for the financial services sector were down 23%, and the financial services talent pool is getting smaller.

Reference: https://gnews.org/post/p1914355/

Posted by: Malaca

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