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Coronavirus

Global companies moving top posts out of Hong Kong: survey

Key positions shifted to Singapore, other cities could stay overseas

Hong Kong has seen an exodus of local talent and expatriates over the past couple of years, including after the city adopted a Beijing-imposed national security law.   © Reuters

HONG KONG -- More than a third of global fund management companies have moved regional and global posts out of Hong Kong as harsh COVID policies deter hiring, according to a new survey.

Close to 70% of respondents in the report, conducted by the Hong Kong Investment Funds Association, said it was "extremely difficult" to recruit foreigners to work in Hong Kong, citing coronavirus measures that have isolated the global financial hub from the rest of the world.

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