Outgoing Chief Executive Carrie Lam said on Friday that Covid-19 quarantine controls have hurt Hong Kong's status as an international hub, just a day after saying the rules won't be eased before she leaves office.

During an interview with CNBC, Lam was asked whether the Covid restrictions and national security law are to blame for Hong Kong's recent brain drain.

She denied that the security law is a factor, saying the main problem is with the Covid rules.

"The border control measures have really made people very impatient, and of course undermined Hong Kong's status as a hub," Lam said.

"Because if you couldn't travel freely to other places and into the mainland, how could you be a hub?"

The CE said once the quarantine period for travellers can be reduced or replaced by home quarantine as proposed by medical experts, many people will come to Hong Kong for business or leisure.

On Thursday, Lam told lawmakers that Hong Kong is caught between Beijing's stringent approach to stamping out Covid and the rest of the world's decision to live with the virus.