Hong Kong will roll out counter-cyclical measures worth over 120 billion Hong Kong dollars (15.48 billion U.S. dollars) this year to prop up its economy reeling from the COVID-19 pandemic, a senior HKSAR official said when delivering the annual budget on Wednesday.
Hong Kong unveiled Wednesday a package of economic stimulus in its budget for the 2021-22 financial year as businesses and individuals are struggling amid the lingering COVID-19 epidemic.
While embracing a third straight year with a fiscal deficit, the global financial hub still proposed over 120 billion Hong Kong dollars (15.48 billion U.S. dollars) of counter-cyclical measures, aimed at overcoming current hardships and investing for a better future.
It is a critical time as Hong Kong is confronted with the dual challenges from COVID-19 and financial distress, Chief Executive of the Hong Kong Special Administrative Region (HKSAR) Carrie Lam said.
Despite all the difficulties, Financial Secretary of the HKSAR government Paul Chan believes that the economy will likely gain a stronger momentum in the second half of 2021 and enjoy a catch-up growth in the next several years when delivering the budget in the Legislative Council.
HKTDC welcomes economic recovery measures in 2021/22 Budget
Supporting SMEs to find new opportunities amid pandemic
HONG KONG, Feb 24, 2021 - (ACN Newswire) - The Hong Kong Trade Development Council (HKTDC) welcomes the Hong Kong Special Administrative Region (HKSAR) 2021/22 Budget, including the additional funding to the Council, to help revive the economy and support small and medium-sized enterprises (SMEs) to tackle the challenges brought by the COVID-19 pandemic and economic downturn. The Budget was announced by the HKSAR Financial Secretary Paul Chan earlier today.
HKTDC Chairman Dr Peter K N Lam said: We welcome the economic recovery measures announced in the Budget, including fee waivers, tax reduction and optimising the SME Financing Guarantee Scheme which would help relief the pressure on cash flow for SMEs. The Government s injection of new capital into the Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund) and expansion of geographical coverage wi
Development district reveals raft of new high-tech projects By ZHANG DANDAN | China Daily | Updated: 2021-02-24 09:37 Share CLOSE Guangzhou Development District in South China s Guangdong province displays 103 new projects, covering biopharmaceuticals, vaccine development and production, integrated circuits, the cultural industry and hydrogen fuel cell vehicles, on Sunday. XIAO KUNHUA/FOR CHINA DAILY
Guangzhou Development District in South China s Guangdong province displayed 103 new projects, covering biopharmaceuticals, vaccine development and production, integrated circuits, the cultural industry and hydrogen fuel cell vehicles, on Sunday, demonstrating its determination to foster new economic growth drivers and high-quality development.
Thirty-one of the new projects were signed, while the other 72 started construction at the event on Sunday. The projects have a total planned investment of 113.9 billion yuan ($17.
Hong Kong to continue to benefit from mainland s development: HKSAR finance chief - China News sina.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sina.com Daily Mail and Mail on Sunday newspapers.