Hong Kong’s Plan to Reverse Expat Exodus Disappoints Investors

Hong Kong Chief Executive John Lee’s long-awaited plan to woo back foreign talent and ease housing woes fell flat with investors, underscoring the challenge facing the financial hub as it tries to bounce back from years of turmoil.

In his maiden policy address on Wednesday, the city leader said he would cut property duties for non-permanent residents and relax visa rules to reverse a brain drain prompted by isolationist Covid policies and a crackdown on political dissent.

His nearly three-hour speech didn’t address pandemic curbs until its final moments, and even then offered no specifics on how the city ...