Hong Kong third wave: finance chief warns of new coronavirus blow for businesses
- Financial Secretary Paul Chan says Hong Kong needs to strike a balance between tackling coronavirus pandemic and keeping economy running
- Return of virus means Hongkongers will gather outside less, and spending will be delayed so economy will take another hit, he says
In an article on his official blog on Sunday, titled “Fighting two battlefronts”, Chan said both virus prevention and economic recovery “would be marathons”.
“Summer is traditionally a peak season for spending. Originally there was hope that local retail and food and beverage spending would increase, as travel restrictions kept people from travelling abroad,” he wrote.
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“However, the return of the virus means Hongkongers will gather outside less, and spending will be delayed so the economy will take another hit.”
Chan said people needed to avoid unnecessary trips around the city. But he also warned that if most social and economic activities were halted for a long time, the city’s ability to keep up epidemic prevention would be undermined.