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Business trends

Hong Kong financial talent flees to Singapore under 'zero COVID' policy

Strict travel restrictions prompt exodus of personnel and business

Hong Kong's travel restrictions are among the strictest in the world.   © Reuters

HONG KONG -- The strict zero COVID policy adopted by Hong Kong has forced international corporations to recruit from a shrinking talent pool, leaving businesses to consider shifting operations to Singapore.

"Hong Kong is in a dilemma," said Ronnie Chan, chairman of major property developer Hang Lung Group. "I understand ... why Hong Kong's government has adopted the zero COVID strategy, since Hong Kong has a deep connection with mainland."

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