Xinhua
15 Sep 2020, 17:21 GMT+10
HONG KONG, Sept. 15 (Xinhua) -- Hong Kong announced Tuesday its third round of anti-epidemic fund worth about 24 billion Hong Kong dollars (3.1 billion U.S. dollars) in the latest effort to fight COVID-19 and bail out an economy reeling from the epidemic.
The fund was unveiled at a press conference of the Hong Kong Special Administrative Region (HKSAR) government on Tuesday afternoon.
Some 13 billion Hong Kong dollars will be allocated to purchase vaccines, fend off a possible wave of epidemic in the coming winter, and promote no-touch payments at markets, among others. About 4.5 billion Hong Kong dollars will be used for propping up virus-hit sectors, including catering, tourism and transport, and assisting people in need.
Besides, the rental of government-owned properties will be reduced and 27 types of government fees will be exempted as part of relief measures to help cash-starved individuals, which is equivalent to about 5 billion Hong Kong dollars.
Taking into account the new measures, the HKSAR government has appropriated anti-epidemic funds of more than 300 billion Hong Kong dollars this year to help businesses and residents weather out the hardship caused by the epidemic.
Financial Secretary of the HKSAR government Paul Chan predicts the latest relief measures can support the economic growth by slightly more than 5 percentage points.
Chan also estimates that the fiscal deficits will rise to over 300 billion Hong Kong dollars and the fiscal reserves will drop to over 800 billion Hong Kong dollars, or 12 to 13 months of expenditures. (1 U.S. dollar equals 7.75 HK dollars)
Get a daily dose of International Travel News news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to International Travel News.
More InformationNEW YORK, New York - U.S. stock markets closed firmly in positive territory to start the week Monday, with the S&P 500 and Dow Jones...
WASHINGTON, D.C.: On Friday, President Donald Trump announced that he was halting trade discussions with Canada due to its decision...
LONDON, U.K.: A little-known investment fund based in the United Arab Emirates has emerged as the most prominent public backer of U.S....
SAN FRANCISCO, California: Across the U.S., a growing number of people are taking obesity treatment into their own hands — literally....
SAN FRANCISCO, California: Under pressure from European regulators, Apple has revamped its App Store policies in the EU, introducing...
NEW YORK CITY, New York: The U.S. dollar tumbled this week, hitting its lowest levels since 2021 against the euro, British pound, and...
NEW DELHI, India: India has decided not to allow a United Nations (UN) investigator to join the investigation into the recent Air India...
BANGKOK, Thailand: This week, Thailand implemented land border restrictions, including a ban on tourists traveling to Cambodia, as...
Shimla (Himachal Pradesh) [India], July 1 (ANI): Himachal Pradesh Public Works Minister Vikramaditya Singh stated that the Central...
Chennai (Tamil Nadu) [India], June 30(ANI): The Union Minister of Ports, Shipping & Waterways (MoPSW), Sarbananda Sonowal inaugurated...
Varna has kicked off the 2025 summer season on a strong note, with a notable increase in tourist arrivals and overnight stays during...
HAIKOU, June 30 (Xinhua) -- In the processing workshop of Hainan Changshu Seedling Development Co., Ltd. in Chengmai County, south...