Coronavirus Has Hit Hong Kong s Economy Especially Hard
Hong Kong’s government faced the difficult trade-off between curbing the spread of COVID-19 and keeping its economy afloat.
2020 has been a tough year for Hong Kong’s economy. The city was already in a recession in 2019 due to US–China trade tensions and domestic social unrest. In January, Hong Kong reported its first local COVID-19 case. The government quickly rolled out social distancing measures and travel restrictions, further reducing economic activity. In the first two quarters of 2020, real GDP fell by around 9 per cent year-on-year.
Hong Kong’s government faced the difficult trade-off between curbing the spread of COVID-19 and keeping its economy afloat. In April, the government unveiled a stimulus package to support businesses and individuals. It provided a wage subsidy valued at 50 per cent of monthly salaries, capped at HK$18,000 (US$2322). The package enabled employers to retain their employees and su
19 December 2020
Author: Vera Yuen, HKU
2020 has been a tough year for Hong Kong’s economy. The city was already in a recession in 2019 due to US–China trade tensions and domestic social unrest. In January, Hong Kong reported its first local COVID-19 case. The government quickly rolled out social distancing measures and travel restrictions, further reducing economic activity. In the first two quarters of 2020, real GDP fell by around 9 per cent year-on-year.
Hong Kong’s government faced the difficult trade-off between curbing the spread of COVID-19 and keeping its economy afloat. In April, the government unveiled a stimulus package to support businesses and individuals. It provided a wage subsidy valued at 50 per cent of monthly salaries, capped at HK$18,000 (US$2322). The package enabled employers to retain their employees and successfully provided relief to hard-hit sectors such as the tourism industry. Tax and loan payment deferrals, as well as principal payment holidays
COVID-19 shock takes its toll on Hong Kong s economy | | Huewire | Opnion News | Forum huewire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from huewire.com Daily Mail and Mail on Sunday newspapers.
Hong Kong Authorities Appalled by Foreign Officials Supporting Jimmy Lai s Release Published December 15th, 2020 - 09:27 GMT
Lai was charged under a new national security law on December 11, 2020, accused of colluding with foreign forces, the latest pro-democracy figure targeted under the legislation. Peter PARKS / AFP
Hong Kong authorities say they are appalled by comments from foreign officials regarding Jimmy Lai, the Hong Kong businessman and activist, after Lai was denied bail Saturday.
The Hong Kong Department of Justice said foreign politicians were damaging the city s interests by demanding the release of Lai, who also owns local tabloid Apple Daily and was being charged with colluding with foreign powers Saturday, Hong Kong Free Press reported Monday.
Hong Kong expresses dismay over demands for Jimmy Lai s release upi.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from upi.com Daily Mail and Mail on Sunday newspapers.