Special measures being looked at to help businesses tackle insurance problems amid ongoing protests, Hong Kong leader Carrie Lam says
- Chief executive attended business community lunch and was grilled about help for sector
- Bosses have complained about red tape and the long process required to secure various government funds
Retailer Joe Chui, 34, complained that his chain of grocery shops had been hit hard by police’s use of tear gas.
“Our staff are suffering from tear gas every day. And as soon as the government declares a riot, our insurance is invalidated,” he said. “One of our landlords asked us to buy an additional HK$10 million of insurance to protect the landlord’s interests. Is the government going to underwrite this because as soon as we have no insurance, we cannot legally operate?”
He warned that many retailers would have to close down soon if the government failed to act quickly. Chui grumbled about red tape and the long process required to secure various government funds, saying: “It takes six or 12 months but most retail rental contracts are for two years only … You’ve got a lot of schemes, but money doesn’t get to us.”
Lam said she was aware of the insurance problem as a business chamber had written to her about the issue.
Tear gas fired as Hong Kong protesters gather outside MTR station in Mong Kok
“I have asked the secretary for financial services and the treasury to examine it and to see what special measures we can put in place,” Lam said, adding exceptional measures were warranted under such unprecedented circumstances.
“If we still act exactly in the same conventional mode as if it is business as usual, life is normal, then we are not being very responsible.”
In response to criticism about excessive red tape, Lam said the Commerce and Economic Development Bureau had taken proactive steps to try to bring all funds, including those under other bureaus, together for a one-stop service for the convenience of small and medium-sized enterprises.
“This is a time really to loosen up and consolidate a bit, to make sure money will reach the people in the businesses we want to help,” Lam admitted.
When asked by businessman Allen Shi about measures to attract business travellers and organisers of conferences, exhibitions and mega events, Lam said the government would offer all help possible, including using her official residence as an event venue.
“If you are bringing in distinguished delegates from outside and you want a reception in Government House, let me know. I am very forthcoming to join in together to show our hospitality to visitors,” she said.
