NEWS
HONG KONG’S CENTRAL BANK SENDS WINES AND GOURMET FOOD TO BANKERS IN QUARANTINE
By Susan Lewis
15-12-2021
Credit: David Mathews
Senior executives at the Hong Kong Monetary Authority (HKMA), which is the city’s central bank, have sent wine and gourmet food from their own pockets to a handful of executives under quarantine as a token of personal regards, the Hong Kong Economic Times reported.
In an interview with the local media, HKMA Chief Executive Eddie Yue said that the authority had put together a team to deliver “wine and gourmet food” to quarantined finance workers in hopes of making them “less angry with Hong Kong.”
Hong Kong is still pursuing a zero Covid policy which places incoming travellers in hotel quarantine for as long as three weeks.
After the outbreak of omicron, the authority tightened quarantine rules further, travellers from the USA, UK and other countries have to go into a government-run quarantine centre for one week before going into two weeks of hotel quarantine.
Hong Kong-based bankers are increasingly frustrated about this strategy in particular when they can travel quarantine free to other financial centres like Singapore, London and New York.
An October survey found that almost half of major international banks and asset managers are thinking of moving employees or functions out of Hong Kong.
Foreign business groups in Hong Kong are warning that the strategy puts the city’s status as a global financial hub at risk.
A stay at a designated quarantine hotel can cost between HK$500 (USD64) to HK$3,630 a night for a non-suite room. On top of this, many banks are offering compensations to staff who have to be quarantined because of work travel.
(the writer can be contacted at: info@thewinechronicle.com)
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