Restaurants 'face $8 Billion Hit' If Rules Stay

"); jQuery("#212 h3").html("

"); });
2022-01-06 HKT 02:48
A restaurant industry leader warned on Wednesday that the sector faces missing out in $8 billion of business if the government extends restrictions, including a ban on evening dine-in services, through the crucial Lunar New Year period.
Simon Wong, who heads the Federation of Restaurants, told RTHK's Newswrap programme that trade could fall by 40 percent in the first two months of the year after Chief Executive Carrie Lam announced the curbs in an effort to stop the spread of the Omicron Covid-19 variant.
"I of course hope that the government would roll out some kind of relief programme to save the industry, as well as to help the workers from being laid off," he told RTHK's Ben Tse.
"This is very important because many workers during this time need money for the Chinese New Year."
Under the rules, announced earlier on Wednesday, restaurants will no longer be able to serve dine-in customers after 6pm. Earlier in the day, they'll be limited in how many customers they can seat at a table, depending on their mode of operation.
Fifteen types of premises, including bars, gyms, entertainment venues, mahjong parlours and swimming pools, will be closed. The rules will apply for at least two weeks, with a review after seven days.
"This is a big disappointment for us," Wong added. "And we are just afraid that our business might be hurt greatly.
"We are seeing that all the bookings for that (Lunar New Year) period might be cancelled. We have already ordered all the food for the celebration, and also have already employed a lot of people to serve during this period.
"And you know this kind of announcement would really hurt what we are preparing to do."
A day earlier, Wong had welcomed the government's decision to delay the expansion of rules preventing unvaccinated people from dining at restaurants. Officials had suggested the "vaccine bubble" arrangement would take effect before Lunar New Year, but it's now scheduled to come into force on February 24.
South Korea Unveils Digital Asset Basic Act For Stablecoin Issuance
South Korea’s newly elected President Lee Jae-myung is pushing forward with plans to allow stablecoin issuance by loc... Read more
Octopus Taps Wonder As Its Omnichannel Payment Partner Across Hong Kong
Wonder, a payment and fintech platform, has announced its partnership as the purported first omnichannel payment facili... Read more
China And UAE Ink Deal To Boost Cross-Border Payment Cooperation
China’s Cross-Border Interbank Payment System (CIPS) and the Central Bank of the United Arab Emirates (CBUAE) have si... Read more
Hong Kong Approves Banking Amendment To Boost Data Sharing In 2025
The Government welcomed the Legislative Council’s June 4 passage of the Banking (Amendment) Bill 2025, aimed at impro... Read more
Citigroup Lays Off 3,500 In China As Part Of Global Overhaul
Citigroup is cutting 3,500 tech jobs in mainland China to streamline operations and cut costs. The Citigroup China layo... Read more
Hong Kong Expands Crypto Market With Derivative Trading For Investors
Hong Kong’s Securities and Futures Commission (SFC) will soon introduce virtual asset derivatives trading for profess... Read more