According to a document reviewed by a major Newswire from JPMorgan Chase, the Wall Street bank is offering to reimburse some of its Hong Kong-based workers up to $5,000 per for their hotel quarantine stay on personal trips.

The move, which is likely the first of its kind in the city, comes as the Asian financial hub's COVID-19 regulations, which are among the tightest in the world, are reported to be hurting firms.

It comes after the bank's CEO, Jamie Dimon, spent 32 hours in Hong Kong last week after receiving a government exemption from quarantine.

The staff below the executive director level would be eligible for a one-time payment for a single quarantine stay in Hong Kong, according to the document.JP Morgan to launch UK digital bank within months

According to the memo, the initiative would run from December 1 through November 2022 and will be for employees returning from visiting direct family members overseas.

The message stated, "We know that the costly quarantine procedures in place in Hong Kong in connection with COVID-19 have impacted many of you in terms of visiting family and loved ones overseas."

The contents of the note, which was first reported by the South China Morning Post on Monday, were confirmed by a JPMorgan representative.

Returning residents and visitors from most countries must spend two to three weeks in hotel quarantine, which they must pay for themselves, according to Hong Kong's current guidelines.

In recent months, the Chinese-controlled city has seen very few new infections, but the government has imposed severe controls and restricted the city's gates.

According to a government website, Hong Kong has documented 12,402 cases throughout the pandemic, with a double-dosed vaccination rate of 66.8%.

Financial lobby organizations have lobbied the government to loosen some of the quarantine measures, citing the impact on Hong Kong's major corporations.

On the weekend, Cathay Pacific freed 111 employees from mandatory isolation after they were determined to be close contacts of three pilots who were infected with COVID-19 during a layover in Germany.