Bankers desperate to leave Shanghai as COVID lockdown hurts businesses

Finance professionals are desperate to pack up and move from Shanghai to Hong Kong, as the Chinese financial hub’s harsh lockdowns take a direct hit on their business prospects and upend their daily lives.

Thousands of bankers, traders, and investors in the financial center of the world’s second-largest economy have found themselves confined to their homes, where some have struggled to secure food and other supplies for their families.

“What happened in Shanghai is shocking to most of the people. Few would have imagined things will get out of hand to such an extent,” said Melvyn Xu, a private equity investor who moved to Shanghai from Hong Kong in 2020.

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