Hong Kong Finance Chief Gets Covid Days Before Banking Summit

(Bloomberg) -- Hong Kong Financial Secretary Paul Chan tested positive for Covid-19 while overseas, casting doubt on whether he’ll make it back in time for a banking summit next week that’s meant to trumpet to the world the city is open for business.

Most Read from Bloomberg

• Mark Zuckerberg’s Wealth Wipeout Hits $100 Billion as Meta Misses Again

• Twitter CEO Among Top Executives Departing as Musk Takes Over

• Tesla Engineers Visit Twitter Office to Review Code for Musk

• Masked Poll Watchers Are Showing Up at Voting Sites With Handguns and Kevlar Vests

Chan tested positive on a rapid test in Saudi Arabia, and has canceled the remaining parts of his visit, the government said in a statement. He was scheduled to depart for Hong Kong on Thursday, but will instead stay in Riyadh for a short while. He will seek to comply with relevant health requirements and return to Hong Kong as soon as possible, the statement said.

While Hong Kong has eased some of its strictest Covid curbs in its gradual push to reopen, anyone coming to the city from overseas must declare a negative rapid-test result within 24 hours of their travel. That risks scuppering plans for Chan to address next week’s financial summit, when the city will host about 200 participants from some of the world’s biggest lenders and asset managers, including Goldman Sachs Group Inc.’s David Solomon and Morgan Stanley Chief Executive Officer James Gorman.

Read more: Solomon, Gorman Headline HK Summit Where 87% of Speakers Are Men

Chan’s travails underscore how far Hong Kong has fallen behind other global financial centers, which have largely done away with testing requirements for visitors. The government has also had to implement a series of measures for bankers in order for the summit to take place.

All attendees will stay at designated hotels, and events will take place at specific venues in order to help ensure they are segregated from Hong Kong communities. Participants who test positive while they’re in the city will also be allowed to leave via private jet, if they can arrange point-to-point transportation that keeps them isolated from others.

Read more: Hong Kong May Let Bankers Who Get Covid Exit on Private Jets

Most Read from Bloomberg Businessweek

• Student Debt Headaches Return for Millions Despite Biden Relief

• What the Alzheimer’s Drug Breakthrough Means for Other Diseases

• The Fantasy of Instant Delivery Is Imploding

• From Bedrooms to Kitchens, Europe Ponders How Cold Is Too Cold

• 10 Takeaways From Matt Levine’s ‘The Crypto Story’

©2022 Bloomberg L.P.