So I guess that's my question. Three's good. Why not. 0 3 is based on scientific analysis of that data that we can screen out
50 per cent of the infected arriving passengers at the airport and another 80 percent to 80 percent after two days. So maybe
out of 1000 persons each infected person would slip into the community.
The ratio is actually even lower than local infection ratios. So take into account the costs of longer quarantine. 3 is the right
approach at the moment based on scientific data. So do you know how is this discussion and the executive council gone since of
course John Lee is taking over as of July 1st. Is it a different kind of conversation than under Carrie Lam. I mean are we
starting to come to the realization that Hong Kong has been put at a severe competitive disadvantage regionally and globally and
also that the the virus is is fairly endemic. Is the government any closer to acknowledging that fact. There is no difference
between how we operate before or after John Tucker taking over. We have been all of us in close contact with the business
community have been telling the chief executive the anxieties and the cost and the business cost.
The difference is vaccination. Vaccine rate. Vaccination rates have gone up but still not up to
you know these high level. About 93 percent of the community have first first shot. Only 90 percent below 70 percent have
three shots. And among the older people over 80 70 percent have one shot and only 42 percent have flu shots. So we still have
some way to go to boost vaccination. So give me your criteria for hitting quarantine zero. I think it really has to depend on
data and we have to brace for winter search and a spread of the more chance transmissible. Be a point four and be point five. We
have to brace for all these risks. So as a matter of balancing the public health risks and the cost to business.
Regina here London. I mean it's life as usual. And people are kind of got used to this. We don't have to live with Covid says
that as well. Why can help grow not live with it. Yeah I do feel for you having to defend this policy in some ways.
I think we share the same concerns as your public health authorities. You know we cannot allow our public health system
to be overburdened. Secretary Professor Low's estimate is if the daily hospital
admissions reached 250 then 25 percent of our hospital services will have to be cut back. And that would affect a lot of other
patients who need regular treatment. So we are watching carefully that daily hospital admission numbers now is hovering
at about 170 to 180 a day. So it is a risk that we can live with.
And so we are balancing all factors. Regina the thing is that it's a risk you can live with but as a financial hub it really
can't. Given what's been said by the SLC by banks have voiced concerns about the brain drain which has been taking place. And
we also have comments from various of our guests some of our guests as well saying is this a reduction by about three days.
It doesn't really change very much because if you are coming just for a few days you are going to spend three of them in a
hotel. How do you move forward. I think you know we've already been touching on some of that. But how do you stop that brain
drain occurring. I think the government will have to launch more aggressive
measures to attract talent. You are talking about public health measures since John took over. We've already taken some
important steps forward. We abolished the ban on flights. And we are introducing electronic declaration at the airport. Actually
before arrival of the passengers they had do electronic declaration at the point of departure which means that it's on
arrival. The clearance procedures would be much simpler. So we are trying our best to make it more convenient for people to
come visit Hong Kong. And I'm sure John will be actively looking at all the data
scientifically to control the spread of the virus and limit the risk to the public health system and then minimize the cost to
business. Regina I'm sure you're well aware of these the hopes that people
are looking to November. Yeah there's going to be. Then there is the sevens for example.
You've mentioned it's all about the data but is that a deadline for you. Can we look at November as a deadline and not so much
as hope. I think that if we look at it as a highly desirable goal. No I
don't think the government can set in the hot and fast deadline at this stage because we all have to look at the data
scientifically. What if there is a search. Although we are quite relatively relieved that the numbers are rising slowly that
daily infections are rising slowly hovering around 4000. Averaging 4500. And their hospitals are not overburdened. You
know we know the importance to business of travel convenience but we also need a policy that works for everybody taking care
of the old and the very young. We have babies dying because they have not been vaccinated. So we have just introduced vaccination
for very young children. CO2 free press starting to do that. So we must have a policy that looks up to everybody. What's your
assessment of the economy obviously in the most recent quarter. It was not good. It does not look good for the rest of this year
that the policies have really choked off hunger. Yes. Regionally and globally as far as competitive nature. But we're also
starting to see the cracks really go in beyond just tourism beyond hospitality and the like. We're seeing property markets
showing weakness. What further weakness in property which is a pillar of this economy do you see. And what can the government
do. We can do things to make Hong Kong more attractive to people
from different parts of the world. For example mainland residents mainland professionals they have been
clamoring for them to be for the post them duty to be waived for them even before they acquire the right of a Poland. You know we
have received a lot of requests in this direction. Will you do that. Is I think the government would. Well it's all a raft of
measures under consideration. And this is certainly something that the government could consider. You know I can not commit
the chief executive but there are things we could do to boost interest in property. And to be honest our our economy has been
buoyed. You know shored up by our fiscal rules. So some media has been coughing out a lot of money.
Nearly 200 million in the past two years. So the first quarter serve as a big help.
Yes I want to get a sense also you know with what you are likely to do with regards to the property market supporting that and
also public housing here. What do you have plans in that regard as well. How are things changing the way that you are looking at
land distribution and the like. Well we have the big Lawson Metropolis projects in the pipeline.
And even before Kerry's departure the government has been far more aggressively resuming lands. You know the government is
planning to make more use of greenbelt lands. So we are working very hard on land production. And the North and Metropolis plan
provides a lot of opportunities in infrastructure financing needs. Be tremendous infrastructure financing needs. The
financial secretary has set aside one hundred billion for that grand plan. There are experts who expect and we need 200 billion
and Mark Gurman loved my colleague on exit polls suggests that we should set up a fund similar to other government funds to
leverage you know to to raise more funds for financing the northern metropolis land development and technology upgrading
projects. So we have a lot in the pipeline a lot going for Hong Kong. We all know the short term right now with the Fed raising
interest rates. They're going to they're raising the mortgage rates here. That could be a dampening effect on the property
market. We all know that. But the big story on banks here has been ping on's side of behind the scenes call for a split up of
HSBC. This is Hong Kong the bank. This is called the bank in this city. What are your views on that. Should it be split up to
bring up the most profitable revenue generating business. Spin it off and make it a Hong Kong bank again. I think there are
mixed views on this. You know there are lots of people who think that Hong Kong Bank makes most of it profit from Hong Kong. So
it should be split a Hong Kong bank. It's also part of UK a part of the West. What
do you think. I think we would like to see Hong Kong Bank headquartered in
Hong Kong. You know definitely. I'll ask you again. November 0 quarantine. A lot of people are
asking that. I'm getting all to some conversations from many people in the industry right now who'd like to know is zero. The
goal are highly desirable goal. You know we all hope we can make it but everything has to depend on a scientific approach based
on the data. And we have to brace for that eventuality. You know what. FTSE the eight point forty
eight point five became the mainstream virus. So we have to brace for that as well. And the winter search you know it's
quite a mild window for most. Yes. Yes. It's as if you are vaccinated. A lot of people have no symptoms. But we have to
take out the old the infirm and the very young children. OK. And just very quickly what's the government doing then to further
the vaccination rate. Because this is the same question we had during the fifth wave. We're still here. We have way that the
private sector have tried. Reverend Jones you know now the government is doing home vaccination
and through schools Parent Teachers Association is an orphan.