Business

Hong Kong dismisses business pushback over ‘zero-Covid’ strategy

Finance hub’s industries reputation at risk, residents ‘indefinitely trapped’

Updated 4 years ago · Published on 31 Aug 2021 9:00PM

Hong Kong dismisses business pushback over ‘zero-Covid’ strategy
Hong Kong Chief Executive Carrie Lam says there are no plans to change course from the current zero-Covid-19 strategy, reinforcing concerns that there is no current end in sight to travel restrictions. – AFP pic, August 31, 2021

HONG KONG – The country’s leader doubled down on her zero-Covid-19 strategy today, brushing off growing pushback from the business community over the city’s indefinite international isolation.

The European Chamber of Commerce in Hong Kong wrote a rare open letter to Chief Executive Carrie Lam earlier this month warning that the finance hub’s business reputation was at risk and residents were “indefinitely trapped”.

But Lam said there are no plans to change course, reinforcing concerns that there is no current end in sight to travel restrictions.

“Now the most important defence is to prevent importation of cases as far as possible,” Lam told reporters.

She also said normalising transit with the Chinese mainland will be prioritised over global travel, even as chief regional rival Singapore prepares to live with the coronavirus and open up to the world.

“The more you relax on the overseas arrivals, the less you will have a chance to go into the mainland,” she told reporters.

Lam said she believes most international businesses also favoured reopening mainland China travel first.

“Yes, international businesses want to travel, they want to travel to the mainland, they want to travel back to their home countries and all over the world,” she said.

“But the most important advantage of Hong Kong is being the gateway into mainland China because that’s a huge market.”

Her comments will be welcome news for those with businesses in China, but little comfort to those international companies that choose Hong Kong for its regional access, low taxes, legal system and financial services.

China has also shown little appetite for relaxing its own strict travel restrictions, including to Hong Kong.

Local media in Hong Kong this week said mainland Chinese officials will keep restrictions tight until at least after the 2022 Winter Olympics.

Hong Kong has largely kept the coronavirus at bay – thanks to mask-wearing, stringent social distancing and some of the world’s strictest quarantine measures – but its vaccination rates trail Singapore’s despite ample supplies.

Singapore has one of the world’s most successful inoculation campaigns with more than 80% of its population fully vaccinated, including 84% of those aged above 70.

In contrast, only 46% of eligible Hong Kong residents are fully vaccinated, with just 25% of those aged 70 or over double-jabbed. – AFP, August 31, 2021

Related News

Business / 1mth

BNM's international reserves at US$129.7b as of April 30, 2026

Malaysia / 2mth

Malaysia continues to shift towards RE, regional power integration - Amir Hamzah

Trending / 2mth

Langkawi ferry to go out of business if trips are not reduced

Events / 6mth

Penang International Dragon Boat participants remember their fallen brothers in Hong Kong

Malaysia / 6mth

'Rest easy, Wai Ho' - Malaysian firefighters pay tribute to their fallen comrade

Trending / 6mth

'My superhero': Girlfriend mourns death of boyfriend firefighter in Hong Kong blaze

Spotlight

Malaysia

Grandfather charged with raping 12-year-old granddaughter

Malaysia

MACC application to stop Na'imah managing assets in Jersey to be heard on August 13

Malaysia

AI-powered probe uncovers SOCSO fraud syndicate exploiting disabled, identity thefts

Malaysia

Salesman pleads guilty to slashing motorcyclist, causing severe injuries

Malaysia

AirAsia warns job seekers of fake recruitment website stealing personal data, demanding fees

Malaysia

Malaysia Stadium Corporation CEO charged over alleged RM1m bribery solicitation

Malaysia

Johor MB to defend state seat in upcoming polls

By Alfian Z.M. Tahir

You may be interested

Business

Brent crude plummets below US$80 as US-Iran peace deal hopes eclipse Wall Street AI slump

Business

US dollar weakens as markets await Warsh's first Fed decision

Business

Oil prices slide as US-Iran peace deal raising hopes of supply recovery

Business

US dollar surges to three-month high as Fed signals possible rate hike

Business

KPJ posts strong FY2025 performance, sets sights on next growth phase

By Alfian Z.M. Tahir