HONG KONG - The Hong Kong government eased on Monday travel restrictions for directors or executives of listed companies, allowing them to seek quarantine exemption when they arrive in Hong Kong from the Chinese mainland, subject to a pre-determined quota. 

The new rules will allow directors or executives of these listed companies who either travel from the mainland to Hong Kong for business or return from the mainland to Hong Kong after completing business to seek exemption

In a press release issued Monday, the government announced that the new scheme covers companies that are listed on Hong Kong stock exchange and included in the Hang Seng Index, Hang Seng China Enterprises Index or Hang Seng Composite LargeCap, MidCap or SmallCap Index, representing around 95 percent of the total market capitalisation in Hong Kong. 

The new rules will allow directors or executives of these listed companies who either travel from the mainland to Hong Kong for business or return from the mainland to Hong Kong after completing business to seek exemption.

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The exemption is quota-based and applications will be considered on a task-specific basis. During any calendar month, a listed company could nominate a maximum of two persons for seeking exemption. Each nominated director or executive will enjoy the exemption only one time in each calendar month. 

Secretary for Financial Services and the Treasury Christopher Hui, was quoted in the press release as saying, "The new scheme is launched in addition to the scheme implemented earlier that facilitates directors of listed companies or listing applicants to fulfil their regulatory requirements, such as attending shareholders' meetings and regulatory hearings, taking into account market demands and the business needs of individual companies."

All travelers to the mainland are currently subject to a 14-day compulsory quarantine requirement imposed by mainland authorities. 

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