Hong Kong, Singapore bubble delay highlights hurdles to travel recovery

SINGAPORE (Reuters) – A delay to Asia’s first travel bubble between Hong Kong and Singapore has hit the shares of their flag carriers and highlighted the challenges facing the global travel industry as it tries to rebound from the pandemic.

FILE PHOTO: Cathay Pacific employees, wearing masks against COVID-19, are seen behind counters with glass dividers at Hong Kong International Airport, China October 20, 2020. REUTERS/Lam Yik

The arrangement was postponed on Saturday, one day before it was due to launch, after Hong Kong reported a jump in coronavirus cases. Authorities and aviation experts have said the bubble would provide a blueprint for quarantine-free travel before a vaccine is widely available.

“There is no doubt that there are many challenges around it,” said Singapore hotelier Marcus Hanna, who had taken bookings from Hong Kong tourists and hopes for similar arrangements with major markets like mainland

Read More

Hong Kong looks to mainland China for next air travel bubble

SINGAPORE — Hong Kong is hopeful its next “air travel bubble” could be with mainland China, the executive director of the city’s tourism board has said.

Dane Cheng told CNBC such plans would hinge on the success of the forthcoming Hong Kong-Singapore travel corridor. But he noted that adding a similar arrangement for quarantine-free travel around China’s Greater Bay Area would be the logical next step for business and leisure travelers.

“The next one for Hong Kong that we would like to see (would be) with the mainland, the Greater Bay Area,” Cheng said Friday.

The Greater Bay Area links several cities in Guangdong province with the special administrative territories of Hong Kong and Macao.

“That would be a key border for us,” he added, noting both proximity and common business and family ties.

Rising Covid cases threaten deal

We would like to see more countries and more regions, more

Read More

A Wild Week in China Roils Tech Stocks, Debt Markets, Hong Kong

(Bloomberg) — Chinese authorities moved on a number of fronts to rein in potential risks to the Communist Party’s rule, touching everything from tech firms to bond markets to political dissent in Hong Kong.

a view of a city next to a body of water: Views of Shanghai as IMF Says China's Complex Fiscal System Needs 'Crucial' Overhaul

© Bloomberg
Views of Shanghai as IMF Says China’s Complex Fiscal System Needs ‘Crucial’ Overhaul

The actions rattled markets as investors sought to grasp the rationale for the changes emanating from Beijing’s opaque corridors of power. They came shortly after the shock suspension of Ant Group Co.’s record-breaking $35 billion initial public offering.

Here’s a quick roundup of the latest developments:

Tech Crackdown

China’s State Administration for Market Regulation is a sleepy government bureaucracy essentially unknown outside the country. But on Tuesday morning, SAMR dropped 22 pages of dense regulatory proposals that wiped out $290 billion in market value and signaled the most sweeping overhaul of the country’s technology industry since the founding of the People’s

Read More