JPMorgan to give Hong Kong employees HK$40,000 to foot quarantine bills for personal trips

JPMorgan employees who travel abroad to visit family can claim the reimbursement to pay their hefty quarantine bills upon return. Photo: efinancialcareers.hk
JPMorgan employees who travel abroad to visit family can claim the reimbursement to pay their hefty quarantine bills upon return. Photo: efinancialcareers.hk

JPMorgan Chase & Co. will allow Hong Kong employees to claim up to HK$38,960 (US$5,000) to foot hefty hotel quarantine bills upon arrival in the city, should they wish to take personal trips to visit family.

A spokesperson at the company confirmed the policy to Bloomberg Monday. All Hong Kong-based employees who are executive directors or below can receive the reimbursement if they travel abroad to reunite with family members including spouses, parents and grandparents.

The news comes as Hong Kong continues to double down on its strict COVID-19 measures. Earlier this month, the government announce that it would no longer excuse top business executives, diplomats and other groups flying into Hong Kong from quarantine. (JPMorgan CEO Jamie Dimon, however, was allowed to come to Hong Kong sans quarantine two weeks ago, an exception that Chief Executive Carrie Lam justified by emphasizing that he leads a “very big bank.”

The city maintains a 21-day quarantine for arrivals from places deemed high risk, including the United States and the United Kingdom. According to the government’s designated quarantine hotels list, a night’s stay is upwards of HK$500 (US$64), with mid-range options being about HK$1,000 (US$128).

JPMorgan employees who are under quarantine between Dec. 1, 2020 to Nov. 30, 2022 will be reimbursed for their stay.

As countries around the world ease into their “living with COVID” strategy, Hong Kong—taking mainland China’s lead—still insists on eliminating the virus. The strict quarantine measures for overseas arrivals have been a point of contention for many in the business world, who say the policies diminish Hong Kong’s status as a financial hub.

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