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HKMA warns against low vaccination rates




The Hong Kong Monetary Authority warned of reduced withdrawals for the city as a financial hub unless higher vaccination rates were reached, in a relatively rare display of suspicion.

According to the chief executive of the Hong Kong Monetary Authority Edi Yue, Exclusion from travel bubbles could hit downtown status and this key to inclusion would be the highest level of vaccination. a point he also underlined as a precondition for consensus for full economic recovery among central bankers.

If you were a regional executive in Hong Kong running regional business in Hong Kong without being able to fly to Asia or fly back to your reporting headquarters, would you think I should stay in Hong Kong, or should to go to another center? he said.

And that will affect our competitiveness as a regional or international financial hub.

Vaccination fees

According to global data compiled by Oxford University, Hong Kong ranks 52nd out of 218 locations from its vaccinated population percentage to 12.7 percent.

Singapore was ranked 28th with 23.9 percent.

I am worried [] we are behind in some sense, Yue said.

Low confidence

The comments were a rare example of suspicion from the HKMA which in recent years has continued to express confidence in the centers through unprecedented civil unrest and the implementation of Beijing national security law.

At the end of 2019, the former chief Norman Chan opposed possible attacks against the Hong Kong dollar against the US dollar, even warning short sellers that many more bullets would be needed to launch an effective attack.

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