London Daily

Focus on the big picture.
Tuesday, Jul 29, 2025

Hong Kong may maintain Covid isolation until 2024, 'risking exodus'

Hong Kong may maintain Covid isolation until 2024, 'risking exodus'

Hong Kong may only reopen in early 2024 because of its stringent Covid-19 policies, which could trigger an exodus of foreign firms and staff and jeopardise its role as a financial hub, the city's European Chamber of Commerce said in a draft report.
The limited effectiveness of locally developed vaccines is forcing mainland China to maintain tight restrictions on travel, the chamber said in the draft, which was reviewed by Reuters but has not been made public.

The European Chamber of Commerce declined to comment on the report.

The most likely scenario for Hong Kong would be that it would not reopen until China rolls out its mRNA vaccine across its 1.4 billion population, which could take until late 2023 or early 2024, it said.

If that was the case, the chamber said there was a risk of a "cascade effect" of firms leaving the Asian financial hub.

"We anticipate an exodus of foreigners, probably the largest than Hong Kong has ever seen, and one of the largest in absolute terms from any city in the region in recent history," it said.

While Hong Kong has succeeded in keeping the virus under control for much of 2021, it has become one of the world’s most isolated places because of its travel restrictions and intermittent lockdowns that have accelerated a brain drain from the former British colony.

Hong Kong saw a surge of infections in January, which authorities have struggled to control.

Given the scenario, multinational firms would increasingly relocate China-focused teams to the mainland or shift their Asian regional teams to Singapore or Seoul, the chamber said.

Hong Kong could lose its appeal as an international business hub as well as its potential to contribute to China's economy.

The departure of international talent could also undermine the city's "potential to maintain world class universities", it said.

Faster vaccines, shorter quarantine

Unlike the mainland, Hong Kong is dependent on business travellers and imported goods.

Its role as one of the world’s main transhipment and passenger hubs has been drastically curtailed by tough flight restrictions, which mean very few people are allowed to land and hardly anyone is allowed to transit.

In contrast, the rival financial hub of Singapore has eased its coronavirus curbs including border controls.

Only about 70% of people in Hong Kong have been double-vaccinated compared with 91% of Singapore's eligible population.

Most of Hong Kong's elderly people have not been vaccinated.

The chamber outlined other scenarios of "average likelihood" including the possibility of an uncontrolled outbreak in the mainland leading to Hong Kong sealing its boundary with China and reopening with the rest of the world.

Another scenario was an uncontrolled outbreak in Hong Kong, which would made any additional restrictions meaningless. This could cause up to 20,000 deaths among the elderly.

The chamber made recommendations to the government including accelerating vaccinations and shortening quarantine from 21 days to 7 to 14 days, which would please the international business community.

Foreign businesses should assume that Hong Kong would very likely be "semi-closed for international travel in the coming 12-36 months". Talent, and holding on to it, would be "a precious commodity", it said.
Newsletter

Related Articles

0:00
0:00
Close
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
A family has been arrested in the UK for displaying the British flag
Mel Gibson refuses to work with Robert De Niro, saying, "Keep that woke clown away from me."
Trump Steamrolls EU in Landmark Trade Win: US–EU Trade Deal Imposes 15% Tariff on European Imports
ChatGPT CEO Sam Altman says people share personal info with ChatGPT but don’t know chats can be used as court evidence in legal cases.
The British propaganda channel BBC News lies again.
Deputy attorney general's second day of meeting with Ghislaine Maxwell has concluded
Controversial March in Switzerland Features Men Dressed in Nazi Uniforms
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
Thai Civilian Death Toll Rises to 12 in Cambodian Cross-Border Attacks
TSUNAMI: Trump Just Crossed the Rubicon—And There’s No Turning Back
Over 120 Criminal Cases Dismissed in Boston Amid Public Defender Shortage
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
Trump Announces $550 Billion Japanese Investment and New Trade Agreements with Indonesia and the Philippines
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
Microsoft, US Lab to Use AI for Faster Nuclear Plant Licensing
Trump Walks Back Talk of Firing Fed Chair Jerome Powell
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Irish Tech Worker Detained 100 days by US Authorities for Overstaying Visa
Dimon Warns on Fed Independence as Trump Administration Eyes Powell’s Succession
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
×