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World Hong Kong to give cash gift of $1,200 to residents

10:26  26 february  2020
10:26  26 february  2020 Source:   bbc.com

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  Hong Kong gang steals hundreds of toilet rolls Toilet rolls have become hot property in the city due to a shortage from coronavirus panic-buying.Toilet rolls are currently in short supply in Hong Kong due to shortages caused by panic-buying during the coronavirus outbreak.

Hong Kong will hand out cash to adult permanent residents , to help boost spending and ease financial burden. As part of the annual budget, ,000 Hong Kong dollars ($ 1 ,280; £985) was announced for about seven million people over the age of 18. The territory's economy has been

HONG KONG (Reuters) - Hong Kong is expected to announce its largest budget deficit in at least a Hong Kong usually runs balanced budgets or surpluses, since its pegged currency system commits it to "To pull the economy out of contraction, you need something that benefits everybody, like cash

Hong Kong will hand out cash to adult permanent residents, to help boost spending and ease financial burden.

a man taking a selfie in a city: Virus fears are only the latest in a string of troubles for Hong Kong © Reuters Virus fears are only the latest in a string of troubles for Hong Kong

As part of the annual budget, $10,000 Hong Kong dollars ($1,280; £985) was announced for about seven million people over the age of 18.

The territory's economy has been battered by months of violent political unrest, and more recently suffered from the impact of the coronavirus.

The city has had 81 confirmed cases of the virus and two deaths.

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Answer 1 of 9: I need to get 2 gift certificates for two teenage nieces in Hong Kong . I'm sure they don' t want AliExpress, TaoBao etc. You also don' t have to worry about high shipping costs from the States as they are based in Hong Kong and can deliver the gift cards directly. How about just send cash ?

Hong Kong residents (Chinese: 香港居民), also called Residents of the Hong Kong Special Administrative Region, according to the Hong Kong Basic Law include permanent residents and non-permanent residents .

"Hong Kong's economy is facing enormous challenges this year," Financial Secretary Paul Chan said on Wednesday.

"After careful consideration, I have decided to disburse HK$10,000 to Hong Kong permanent residents aged 18 or above, with a view to encouraging and boosting local consumption on the one hand, and relieving people's financial burden on the other," Mr Chan said.

The individual handouts are part of a HK$120bn relief package to ease the impact of the protests and virus on the economy.

Authorities will also lower public housing rent and there will be rebates in salary and property taxes.

The budget deficit is projected to rise to nearly $18bn by 2021 - a record for the territory.

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Hong Kong has seen months of violent protests against the government © AFP Hong Kong has seen months of violent protests against the government

Last week, Hong Kong announced a relief fund for those hit by the virus outbreak, including cash handouts for businesses like restaurants and travel operations.

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A Mainland Travel Permit for Hong Kong and Macao Residents , also colloquially referred to as a Home Return Permit or Home Visit Permit (simplified Chinese: 回乡证; traditional Chinese: 回鄉證), is issued to Chinese nationals who are permanent residents of or settled in Hong Kong and Macau as

The territory's economy is suffering from months of political unrest which has seen pro-democracy activists in often violent clashes with the police.

In the last weeks, the threat of the coronavirus spilling over from the mainland has slowed down much of public life and dealt a serious blow to the tourism sector.

The financial hub is also reeling from the ongoing US-China trade war, slowing down trade between the world's two largest economies.

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