China Citic Bank offers Covid shots in HK to woo mainland cash

A HONG Kong unit of state-backed China Citic Bank Corp. is offering free Covid-19 mRNA vaccinations to sign up wealthy new customers as the border between the financial hub and mainland China reopened after three years of travel and quarantine restrictions.

For customers who put in at least HK$4 million (S$683,471) and sign up for a dual currency credit card, China Citic Bank International is offering one shot of Pfizer-BioNTech’s Comirnaty bivalent as well as 15 per cent off at the city’s Four Seasons Hotel among other perks. So-called Tier 3 customers will also get to test drive a Bentley, according to marketing documents on its website.

The programme has an “aim of providing cross-border customers a comprehensive array of wealth management services,” the lender said in a statement.

The mRNA shot has been the backbone of global vaccination campaigns, but China has instead relied on homegrown vaccines for its 1.4 billion people. The BioNTech vaccine has been available for free to residents in Hong Kong while non-residents can pay to receive the bivalent shot at private doctors, clinics and hospitals.

The marketing campaign comes as China on Jan 8 opened its borders and resumed approvals for citizens’ passport and visa applications in a bid to bolster its slumping economy as the nation grapples with a wave of infections. The reopening, which has already sparked a homecoming rush, is expected to spur outbound travels and benefit cities like Hong Kong, which was among the most popular destinations based on bookings in mainland China. BLOOMBERG