Coronavirus: massive HK$30 billion relief package revealed as Hong Kong government plans to bail out struggling industries and fund the fight against deadly bug
- More than half the funding will provide one-off to hard-hit industries including retail, food and drink, transport, arts and culture and tourism
- The rest will go toward Covid-19 combat measures, including enhanced mask production and support for the Hospital Authority
The Hong Kong government will dish out a bigger-than-expected HK$30 billion (US$3.86 billion) relief package in an urgent attempt to bail out virtually all industries across the board as people from all walks of life are left reeling from the coronavirus outbreak.
Details of the measures, which were revealed in a document to lawmakers late on Wednesday night, aimed to serve two purposes: boosting the city’s ability to fight the epidemic and easing the woes of businesses as the number of confirmed infections of Covid-19 continued to rise.
More than half the funding – HK$16.9 billion (US$2.15 billion) – would be used to provide one-off cash injections to retailers, food and drink service providers, transport companies, students, the arts and culture sector, guest houses and travel agents.
Another HK$10.19 billion (US$1.3 billion) would focus on the virus itself, with support given to the Hospital Authority; more investment in technology to boost local production of surgical masks; the purchase of more protective equipment; and aid for various sectors including property management staff, security guards and construction and cleaning workers in their fight against contagion.
Some of this funding would also be set aside for households of two public housing estates designated as temporary quarantine centres.
The two parts of the funding plus a 10 per cent buffer add up to about HK$30 billion.