On Wednesday, the travel agency closed all its six branches in the city and explained the move was to minimize operation costs and to preserve strength until the borders are fully reopened. Two days later, its parent company Caissa Tosun Development Co Ltd, submitted a notice to the Shenzhen Stock Exchange and announced to wind up Hong Thai.

Speaking to reporters after an event Saturday, Yeung said the liquidation of Hong Thai will be proceeded by the Travel Industry Authority according to laws. He added it is a shame that such an established travel agency cannot continue its operations.

The tourism chief, who assumed office in July, recalled previous measures rolled out by the government to aid the tourism sector, including HK$3.8 billion of funding, as the industry has been experiencing a tough time for more than two years amid the pandemic.

He said he understood the recent “0+3” measure can only provide limited help to the industry as certain restrictions on inbound travelers have yet to be lifted.

Still, Yeung reminded the public to comply with the anti-Covid curbs and wanted more people to receive the Covid vaccine shots so that there would be more room for authorities to ease the rules and society could return to normalcy as soon as possible.

Separately, Yeung said in a TV interview it is not yet confirmed when Hong Kong will introduce the “0+0” measure. He continued that the government has to factor in scientific data and the Covid developments.

On another note, Chief Secretary Chan Kwok-ki said he was saddened by the news, just like every other citizen. He explained he had joined guided tours held by Hong Thai before.