Fund management representatives on Tuesday called on the government to lift all quarantine measures by November, saying it is crucial for the SAR to reconnect with the world.

The Hong Kong Investment Funds Association (HKIFA) said it surveyed 36 fund management companies in July, and found that two-thirds of the firms found it difficult to retain and attract international talents under the city’s Covid restrictions.

35 percent of the firms said they’ve moved some regional and global posts to other offices outside the territory, while 13 percent of them have reduced their headcount in the SAR.

The association's CEO, Sally Wong, said as a number of international events are due to take place in November, Hong Kong should fully reopen by then.

"We will have a high-level investment summit and the Rugby Sevens in November. So I think it's pivotal that we can achieve normalcy by November because that is a very important window to show to the rest of the world," she said.

The association’s chairman, Nelson Chow, also said the government’s recent decision to shorten the hotel quarantine period for incoming travelers to three days is not enough, as many countries have already completely reopened their borders.

"We welcome the recent relaxation on the quarantine requirements... We have to benchmark other international financial cities, especially around this region, in order to be competitive," he said, adding that he expects Hong Kong to bounce back quickly as a global fund management hub once quarantine measures are lifted.