- The scheme promised in this year’s budget will benefit around 7 million people
- It’s part of a plan to revive the economy after stress from the anti-government protests and Covid-19
The government will begin accepting applications for a HK$10,000 handout promised in this year’s budget starting June 21, while payments may start as early as July 8.
Financial Secretary Paul Chan Mo-po had pledged the handout to all adult Hongkongers, following in the footsteps of a previous HK$4,000 handout last year and a HK$6,000 handout in 2011.
Chan wished for people to spend the money to boost the economy and added that the quickest way to get paid is through electronic registration with banks. This scheme will benefit around 7 million people and cost HK$ 71 billion.
He says most will receive the cash by the end of August.
The last handout helmed by Chan was criticised for being too slow and complicated, with applicants having to provide proof of address, though the requirement was later removed. The scheme also did not offer online applications.
The quickest way someone can be paid is via an electronic application with their bank account.
Eligible people can choose to register through their bank’s website or online banking services starting from June 21, and payment will be deposited into the account from July 8.
For online registration submitted from July 1 onwards, payment will be deposited directly to the person’s bank account one week after registration.
Alternatively, people can submit a paper registration form to their bank or to the Post Office, and forms can be downloaded from the websites of participating banks, Hongkong Post, and Public Housing Estate offices.