Nearly half of foreign businesses in Hong Kong are planning to relocate

Foreign businesses have for decades reaped the benefits of setting up shop in Hong Kong, a historically stable, expat-friendly finance hub at the doorstep of mainland China.

But lately, as Beijing has tightened its grip on the former British colony, those firms are increasingly eyeing the exits.

Nearly half of all European businesses in Hong Kong are considering relocating in the next year, according to a new report. Companies cite the local government's extremely strict Covid-19 protocols that mirror those on the mainland.