Top executives from about 20 leading global firms have committed to flying in for Hong Kong's financial summit, even as the city's reputation as a regional hub is at risk due to a lack of attendees.
The two global banks with the biggest local presence have already said they will attend the summit.
Morgan Stanley's James Gorman and Citigroup Inc.'s Jane Fraser are both prepared to travel to Hong Kong.
About 20 firms have pledged to send at least a C-suite executive, despite the fact that attendance by many of Wall Street's chiefs is still contingent on the city ending its three-day hotelQuarantine for Incoming Travelers.
The financial hub is open for business after three years of strict Covid policies and a political purge by Beijing. The Hong Kong Sevens rugby tournament will be held in November for the first time in three years, as the city prepares to host a fintech event in October.
The executives are expected to meet local regulators and take part in private and public forums at the event, which will be held at the Four Seasons Hotel overlooking the city's Victoria Harbour.
People familiar with the matter said that banks won't accept individual waivers for executives since they are sensitive to being seen as receiving special privileges. The public uproar was caused by the waivers given to Kidman and Dimon.
Morgan Stanley was the only one to decline to comment. Blackrock didn't reply to the request for a comment.
Pressure is building on John Lee, the former police officer who this year was installed by Beijing as the city's new chief executive, to do away withQuarantine rules as rival financial hubs such as Singapore, New York and London have fully opened. One of the city's wealthiest property magnates, Peter Woo, has been called on by top epidemiologists to be dismantled.
New cases have hovered around 10,000 a day and the vaccination rate is low among the city's vulnerable elderly population, which is why officials are targeting to do away with quark by the end of the year. Lee said at a press briefing on Tuesday that a decision on quark will be closer to the date.
He said that they need to make sure that the public health care system is protected.
The hotel was cut from seven days to two in August. Travelers who test positive in a hotel will be allowed to stay there rather than being sent to an isolation facility.
Winters said that Hong Kong was now open.
Winters said that it has been an outstanding financial center and that it is close to China.
During his first visit to the city in more than a year, the CEO of HSBC said that he would attend. He was happy to see Hong Kong opening up.
The bankers will have a closed-door meeting with officials from the HKMA in the morning.
According to the people, visitors will attend a public conference the next day. The agenda was kept brief to allow overseas executives to visit local clients.
The agenda and attendees are subject to change depending on the situation. An HKMA spokeswoman said in an email that they are making good progress and are in discussion with relevant stakeholders about the appropriate arrangements for the event.
Questions were referred to the HKMA. There was no response from the Health Bureau.
By contrast, Singapore will host the Formula One Grand Prix race this September with minimal restrictions as it pivots towards a strategy of living with Covid-19. The city-state welcomed top diplomats and military officials from around the world to the city-state for the Shangri-La Dialogue in June while music sensation Billie Eilish performed in August
With the assistance of several people.
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