Paul Chan risks missing summit

Financial Secretary Paul Chan Mo-po's presence at a three-day summit with world financial leaders in Hong Kong next week is in serious doubt after he caught Covid on the last day of a working trip to Saudi Arabia, forcing him to remain in Riyadh.

Chan, who has received four jabs, was nursing a fever and a sore throat before he tested positive in a rapid antigen test yesterday.

That came just before he was supposed to fly out of the Saudi capital for arrival in Hong Kong today.

The Financial Secretary's Office said Chan had indeed tested positive, though his previous daily rapid test result was negative.

"He has canceled the remaining parts of the visit and will stay in Riyadh ... and seek to comply with health requirements and return to Hong Kong as soon as possible," it added.

According to health authorities in Saudi Arabia, if an infected person does not have any symptoms an isolation period there is calculated from the date a person received a first positive test result and should last for 10 days. Isolation ends without a need to take another test if they do not show symptoms.

But if a person has symptoms and has not received a test result the isolation period is calculated from when symptoms first appeared. Then at least three days in isolation are required after symptoms have gone.

Hong Kong requires arrivals to take a predeparture rapid test and present a negative result to board flights to the SAR. They must complete an online health declaration form from the Department of Health before arriving and obtain a green health declaration QR code that airline staff must verify.

So taking into account Saudi quarantine and departure rules and regardless of any exemption for Chan by Hong Kong authorities he must wait until he tests negative before he can return to the SAR.

Chan is the highest-ranking official to test positive to Covid since the new administration took office on July 1. He is also the only principal official to have tested positive during a foreign visit.

Hong Kong's much-trumpeted Global Financial Leaders' Investment Summit from Tuesday to Thursday is being attended by more than 200 senior executives, including 30 chief executives of global banks and funds.

Chan was set to give a keynote speech on Wednesday and then feature the following day in the session "Conversations with Global Investors."

He had been a speaker at a plenary session of the Future Investment Initiative in Riyadh running from Tuesday to yesterday.

A number of top bankers, including HSBC chief executive Noel Quinn, Standard Chartered CEO Bill Winters and Goldman Sachs counterpart David Solomon, were there too, and those three should also be at the SAR summit next week.

The chairwoman of Hong Kong Exchanges and Clearing, Laura Cha Shih May-lung, and chief executive Nicolas Aguzin were also at the Riyadh event.

But Solomon and Winters spoke at different sessions from Chan on Tuesday, Quinn and Cha were involved on Wednesday, and Aguzin was a plenary speaker yesterday.

After speaking at the FII event, Chan met with Saudi Arabian minister of investment Khalid al-Falih and Saudi royal court adviser on economic matters, Mohammad al-Tuwaijri.

He also met, among others, with Beijing's ambassador extraordinary and plenipotentiary to Saudi Arabia, Chen Weiqing.

A definite nonstarter at the summit is Citigroup chief Jane Fraser as she has also tested positive, though it is not known how she came to be infected.

A Citi spokesman confirmed Fraser was canceling, adding that she looked forward to visiting Hong Kong in the near future.

Bloomberg last week reported that the SAR has been considering concessions including allowing summit attendees to leave on private jets should they test positive.

But if a person without access to their own plane tests positive they would have to isolate themselves in a hotel room in line with Hong Kong's existing rules. They would not be able to leave on a commercial flight.

sophie.hui@singtaonewscorp.com

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