Hong Kong has been pushed into recession with the economy dealt a blow by the coronavirus outbreak after months of social unrest. Photo: Felix Wong
Coronavirus: Hong Kong jobless rate expected to hit nine-year high, finance chief Paul Chan warns
- Global economic volatility has exerted further pressure on Hong Kong, Chan says, warning that catering, retail, hotel and construction sectors will be hit hard
- Many businesses have already scaled back or suspended operations, or asked staff to take unpaid leave, he says
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Coronavirus outbreak
Hong Kong has been pushed into recession with the economy dealt a blow by the coronavirus outbreak after months of social unrest. Photo: Felix Wong