This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.bbc.co.uk/news/world-asia-china-51640456
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Hong Kong to give cash gift of $1,200 to residents | Hong Kong to give cash gift of $1,200 to residents |
| (30 minutes later) | |
| Hong Kong will hand out cash to adult permanent residents, to help boost spending and ease financial burden. | Hong Kong will hand out cash to adult permanent residents, to help boost spending and ease financial burden. |
| As part of the annual budget, $10,000 Hong Kong dollars ($1,280; £985) was announced for about seven million people over the age of 18. | As part of the annual budget, $10,000 Hong Kong dollars ($1,280; £985) was announced for about seven million people over the age of 18. |
| The territory's economy has been battered by months of violent political unrest, and more recently suffered from the impact of the coronavirus. | The territory's economy has been battered by months of violent political unrest, and more recently suffered from the impact of the coronavirus. |
| The city has had 81 confirmed cases of the virus and two deaths. | The city has had 81 confirmed cases of the virus and two deaths. |
| "Hong Kong's economy is facing enormous challenges this year," Financial Secretary Paul Chan said on Wednesday. | "Hong Kong's economy is facing enormous challenges this year," Financial Secretary Paul Chan said on Wednesday. |
| "After careful consideration, I have decided to disburse HK$10,000 to Hong Kong permanent residents aged 18 or above, with a view to encouraging and boosting local consumption on the one hand, and relieving people's financial burden on the other," Mr Chan said. | "After careful consideration, I have decided to disburse HK$10,000 to Hong Kong permanent residents aged 18 or above, with a view to encouraging and boosting local consumption on the one hand, and relieving people's financial burden on the other," Mr Chan said. |
| The individual handouts are part of a HK$120bn relief package to ease the impact of the protests and virus on the economy. | The individual handouts are part of a HK$120bn relief package to ease the impact of the protests and virus on the economy. |
| Authorities will also lower public housing rent and there will be rebates in salary and property taxes. | Authorities will also lower public housing rent and there will be rebates in salary and property taxes. |
| The budget deficit is projected to rise to nearly $18bn by 2021 - a record for the territory. | The budget deficit is projected to rise to nearly $18bn by 2021 - a record for the territory. |
| Hong Kong had previously announced a relief fund for sectors that have suffered because of the outbreak, including cash handouts for businesses like restaurants and travel operations. | |
| The territory's economy is suffering from months of political unrest which has seen pro-democracy activists in often violent clashes with the police. | The territory's economy is suffering from months of political unrest which has seen pro-democracy activists in often violent clashes with the police. |
| In the last weeks, the threat of the coronavirus spilling over from the mainland has slowed down much of public life and dealt a serious blow to the tourism sector. | In the last weeks, the threat of the coronavirus spilling over from the mainland has slowed down much of public life and dealt a serious blow to the tourism sector. |
| The financial hub is also reeling from the ongoing US-China trade war, slowing down trade between the world's two largest economies. | The financial hub is also reeling from the ongoing US-China trade war, slowing down trade between the world's two largest economies. |