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European companies plan to leave Hong Kong over COVID controls

Survey shows only 17% have no intention to shift operations elsewhere

HONG KONG -- Nearly half of European companies in Hong Kong are looking to move out of the city this year, at least partially, according to a new survey on the impact of government pandemic controls.

According to the survey of 260 affiliates of national chambers under the umbrella of the European Chamber of Commerce in Hong Kong, 25% of respondents plan to fully relocate, 24% intend to partially depart and another 34% are unsure whether they will stay. Only 17% indicated no intention to shift operations.

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