Nearly half of all European businesses in Hong Kong are considering relocating in the next year, according to a new report. Companies cite the local government's extremely strict Covid-19 protocols that mirror those on the mainland
But lately, as Beijing has tightened its grip on the former British colony, those firms are increasingly eyeing the exits. Nearly half of all European businesses in Hong Kong are considering relocating in the next year, according to a new report. Companies cite the local government's extremely strict Covid-19 protocols that mirror those on the mainland.
Last week, Hong Kong Chief Executive Carrie Lam acknowledged that the protocols were eroding residents' satisfaction with the city, saying she had a"very strong feeling that people's tolerance is fading." The European survey released Thursday tracks with a similar report from the American Chamber of Commerce in January, which found that 44% of expats and businesses are likely to leave the city, citing Covid-related restrictions.