Hong Kong seeks to revive global banking status with major summit | The Business Standard
Skip to main content
  • Latest
  • Epaper
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Saturday
June 21, 2025

Sign In
Subscribe
  • Latest
  • Epaper
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
SATURDAY, JUNE 21, 2025
Hong Kong seeks to revive global banking status with major summit

Global Economy

Reuters
27 May, 2022, 07:15 pm
Last modified: 27 May, 2022, 07:18 pm

Related News

  • Hong Kong seeks fresh economic edge while steeling security in policy blueprint
  • IMF's Georgieva says more vulnerabilities in banking sector may be exposed
  • Asian nations to debate Japan's bid to beef up market safeguards
  • Who is to blame for the new banking crisis?
  • Small island off Hong Kong offers haven from stress of living

Hong Kong seeks to revive global banking status with major summit

Reuters
27 May, 2022, 07:15 pm
Last modified: 27 May, 2022, 07:18 pm
A Star Ferry boat crosses Victoria Harbour in front of a skyline of buildings during sunset in Hong Kong, China June 29, 2020. Photo:Reuters
A Star Ferry boat crosses Victoria Harbour in front of a skyline of buildings during sunset in Hong Kong, China June 29, 2020. Photo:Reuters

Hong Kong's central bank plans to hold a major conference in November it hopes will draw global banking bosses, sources said, as the financial hub seeks to welcome back international business following two gruelling years of closed borders.

For most chief executives of the world's major banks, the meeting would be their first visit to Hong Kong - historically a massive global conference venue - in at least three years, said the sources familiar with the matter.

The Chinese-controlled territory closed its borders in early 2020 for most non-residents to deal with the coronavirus pandemic and has maintained some of the tightest restrictions in the world, which have starved its economy of tourist and business arrivals.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

Visitors to Hong Kong have to quarantine for seven days in hotels and face mandatory testing before and after arriving, as the city sticks to its near-zero Covid-19 strategy to curb all outbreaks as soon as they occur.

Those rules, combined with temporary measures this year that separated families and children in quarantine facilities, triggered an exodus of expatriate workers, especially in financial services, from the city.

Hong Kong Monetary Authority (HKMA) is working with foreign investment banks based in Hong Kong on the event, which is scheduled for early November and will run alongside the prestigious Rugby 7s tournament, said the sources.

The Rugby 7s are due to run 4 to 6 Nov. , having been postponed a number of times since the start of the pandemic.

For the HKMA conference to attract global bankers, the mandatory seven-day hotel quarantine rules would need to be eased, said the sources, who declined to be named as they were not authorised to speak to the media.

After a two-year ban, borders were re-opened to non-residents this month, although their entry is subject to the seven-day hotel quarantine.

While exemptions allow top financial executives visiting Hong Kong to leave their hotels for meetings, very few have taken advantage of the programme because itineraries have to be lodged with regulators, the sources said.

Hong Kong authorities have to date given no public indication they intend to relax quarantine restrictions by November.

An HKMA spokesperson told Reuters the authority was working on a "high level investment summit" and would release more details later.

"The HKMA has been maintaining regular dialogue with relevant government authorities to share with them financial industry's observations and suggestions with regard to Hong Kong's anti-epidemic measures," the spokesperson said.

"We shall defer to the relevant government authorities on border control matters."

Outgoing Hong Kong Chief Executive Carrie Lam said this week quarantine rules were unlikely to be altered before her term ends on June 30. John Lee, who takes over as CEO on July 1, has indicated he wants Hong Kong to remain a global financial hub.

Top News / World+Biz

global banking / Hongkong

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Smoke rises following an Israeli attack in Tehran, Iran, June 18, 2025. Majid Asgaripour/WANA (West Asia News Agency) via REUTERS
    Iran says no to nuclear talks during conflict as UN urges restraint
  • Representational image of accident. Photo: Collected
    9 killed, 20 injured in two road accidents in Mymensingh
  • Four months of dialogue, 50 sessions, consensus reached only on two reform proposals
    Four months of dialogue, 50 sessions, consensus reached only on two reform proposals

MOST VIEWED

  • BAT Bangladesh to shut Mohakhali factory, relocate HQ after lease rejection
    BAT Bangladesh to shut Mohakhali factory, relocate HQ after lease rejection
  • Collage of the two Shahjalal University of Science and Technology (SUST) students held over raping classmate after rendering her unconscious and filming videos. Photos: Collected
    2 SUST students held for allegedly rendering female classmate unconscious, raping her, filming nude videos
  • BUET Professor Md Ehsan stands beside his newly designed autorickshaw—just 3.2 metres long and 1.5 metres wide—built for two passengers to ensure greater stability and prevent tipping. With a safety-focused top speed of 30 km/h, the vehicle can be produced at an estimated cost of Tk1.5 lakh. Photo: Junayet Rashel
    Buet’s smart fix for Dhaka's autorickshaws
  • Illustration: Ashrafun Naher Ananna/TBS Creative
    From 18m to 590m Swiss francs: Bangladeshi deposits fly high in Swiss banks
  • Mashrur Arefin appointed Chairman of the Association of Bankers Bangladesh
    Mashrur Arefin appointed Chairman of the Association of Bankers Bangladesh
  • Students attend their graduation ceremony. REUTERS/Brian Snyder/File Photo
    US resumes student visas but orders enhanced social media vetting

Related News

  • Hong Kong seeks fresh economic edge while steeling security in policy blueprint
  • IMF's Georgieva says more vulnerabilities in banking sector may be exposed
  • Asian nations to debate Japan's bid to beef up market safeguards
  • Who is to blame for the new banking crisis?
  • Small island off Hong Kong offers haven from stress of living

Features

Monsoon in Bandarban’s hilly hiking trails means endless adventure — something hundreds of Bangladeshi hikers eagerly await each year. But the risks are sometimes not worth the reward. Photo: Collected

Tragedy on the trail: The deadly cost of unregulated adventure tourism in Bangladesh’s hills

9h | Panorama
BUET Professor Md Ehsan stands beside his newly designed autorickshaw—just 3.2 metres long and 1.5 metres wide—built for two passengers to ensure greater stability and prevent tipping. With a safety-focused top speed of 30 km/h, the vehicle can be produced at an estimated cost of Tk1.5 lakh. Photo: Junayet Rashel

Buet’s smart fix for Dhaka's autorickshaws

19h | Features
Evacuation of Bangladeshis: Where do they go next from conflict-ridden Iran?

Evacuation of Bangladeshis: Where do they go next from conflict-ridden Iran?

2d | Panorama
The Kallyanpur Canal is burdened with more than 600,000 kilograms of waste every month. Photo: Courtesy

Kallyanpur canal project shows how to combat plastic pollution in Dhaka

3d | Panorama

More Videos from TBS

News of The Day, 20 JUNE 2025

News of The Day, 20 JUNE 2025

9h | TBS News of the day
Israel strikes Iranian missile launch site

Israel strikes Iranian missile launch site

10h | TBS World
Tarique Rahman's Potential Homecoming: Preparations Underway?

Tarique Rahman's Potential Homecoming: Preparations Underway?

8h | TBS Stories
Deposits from Bangladeshis fly high in Swiss banks in 2024

Deposits from Bangladeshis fly high in Swiss banks in 2024

14h | TBS Stories
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net