Hong Kong’s Struggle to Lure Bankers Dims Its Role as a Global Finance Hub
Before the Covid-19 pandemic, the Hong Kong Sevens rugby tournament was for years a highlight on Asia’s networking calendar for global bankers and their clients. Now, organizers are pushing for a downsized version of the event this fall, reflecting the challenge the city faces to maintain its status as Asia’s leading financial hub. The Hong Kong Rugby Union is still waiting for government approval for its proposed “closed loop” for the 16 teams and support staff, modeled on the system used at the Beijing Winter Olympics earlier this year that sealed off athletes and other participants from the public, said Robbie McRobbie, its chief executive. With seven days of quarantine for all arrivals, organizers are resigned to holding this year’s tournament while missing the thousands of overseas visitors who in years past thronged the three-day event, which coincided with major business conferences and meetings.
The Wall Street Journal - June 27, 2022View the full story here: https://www.wsj.com/articles/hong-kongs-struggle-to-lure-bankers-dims-its-role-as-a-global-finance-hub-11656241202