(Fighting against New Coronary Pneumonia) The Hong Kong SAR Government exempts some listed companies' directors or executives from mandatory quarantine
China News Agency, Hong Kong, June 8 The Hong Kong SAR Government announced on the 8th that some directors or executives of companies listed on the Hong Kong Stock Exchange (Stock Exchange) may apply for exemptions from the Mainland if they meet the specified qualifications and are subject to established quota restrictions. Compulsory quarantine arrangements when coming to Hong Kong.
According to the news of the Information Department of the Hong Kong Special Administrative Region on the same day, the new mechanism covers companies listed on the Stock Exchange and included in the Hang Seng Index, the Hang Seng China Enterprises Index or the Hang Seng Composite Large, Medium or Small Stock Index. These companies account for about 95% of the total market value of listed companies in Hong Kong.
The SAR Government stated that the directors or executives of the listed companies mentioned above may travel from the Mainland to Hong Kong due to necessary business activities; or return to Hong Kong from the Mainland after completing the necessary business activities and may apply for exemption from mandatory quarantine arrangements if they meet certain designated qualifications.
The Secretary for Financial Affairs and the Treasury of the HKSAR Government, Xu Zhengyu, said in the announcement that following the previous implementation of an exemption mechanism to facilitate the listing of companies or directors of listing applicants due to compliance with regulatory requirements, such as attending shareholders’ meetings or regulating hearings, they are now responding to market demands, Then launch a new mechanism based on the company's own business needs.
He said that taking into account the need to balance the protection of public health and promote Hong Kong's economic development, the new mechanism can facilitate listing in Hong Kong, and the directors or executives of larger companies conduct business activities that are necessary for the operation of the company and help related Under the rapidly changing market environment and challenging business conditions, enterprises have more flexibility to maintain normal business operations.
The SAR Government earlier revised the "Compulsory Quarantine Regulations for Certain Arrivals" (Chapter 599C) (the "Regulations"), which will take effect until July 7, 2020. According to section 4(1)(b) of the Regulations, if the Chief Secretary for Administration of the SAR Government is satisfied that the itinerary of a person or class of persons is necessary for purposes related to business activities in the interest of Hong Kong’s economic development, it may be exempted The person or category of person is subject to mandatory quarantine.
The SAR Government reminds exempt persons that all people entering the Mainland must now accept the 14-day compulsory quarantine arrangement in the Mainland. The SAR Government is negotiating with the relevant mainland authorities to mutually recognize the results of the new coronavirus test issued by an accredited laboratory in order to exempt relevant cross-border persons from compulsory quarantine. (Finish)