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Chen Maobo said that large-scale compulsory virus testing is an ``essential'' epidemic prevention tool to help restart the economy

2020-10-25T03:38:45.700Z


The local novel coronavirus pneumonia epidemic continues, and there are still cases of unknown origin for several days. Financial Secretary Chen Maobo mentioned today (25th) that the Hong Kong economy has fallen into contraction for four consecutive quarters. Although commercial products and private consumption are gradually improving, The rate of loss of tea and the rate of underemployment has climbed, reflecting the severe situation under the impact of social violence and the severe damage of the epidemic. To restart the economy, he believes that if contacts with the mainland can be resumed, vitality can be greatly restored, but the key is to control the local epidemic, so that the people of the two places can feel at ease, and mandatory testing for different scopes and target groups, and even greater Compulsory testing of scale is "essential", which can create conditions for resuming economic activities and alleviating the economic pressure on wage earners and enterprises.


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Author: Chen Qianting

2020-10-25 11:27

Last update date: 2020-10-25 11:27

The local novel coronavirus pneumonia epidemic continues, and there are still cases of unknown origin for several days. Financial Secretary Chen Maobo mentioned today (25th) that the Hong Kong economy has fallen into contraction for four consecutive quarters. Although commercial products and private consumption are gradually improving, The rate of loss of tea and the rate of underemployment has climbed, reflecting the severe situation under the impact of social violence and the severe damage of the epidemic.

To restart the economy, he believes that if contacts with the mainland can be resumed, vitality can be greatly restored, but the key is to control the local epidemic, so that the people of the two places can feel at ease, and mandatory testing for different scopes and target groups, and even greater Compulsory testing of scale is "essential", which can create conditions for resuming economic activities and alleviating the economic pressure on wage earners and enterprises.

Chen Maobo said that large-scale mandatory virus testing is an "essential" epidemic prevention tool.

(Information Picture/Photo by Li Zetong)

Export figures are expected to show considerable improvement in September

When Chen Maobo wrote his blog, he pointed out that some economic data in Hong Kong have improved. If the decline in Hong Kong's merchandise exports has narrowed from 7.4% in May to 2.3% in August, it is expected that the upcoming September export figures will show considerable improvement. .

Private consumption has fallen for four consecutive quarters, from about 3% in the second half of last year to 14.2% in the second quarter of this year. However, with the relaxation of social distancing, citizens' consumption performance is gradually improving.

He pointed out that the economy has been in contraction for four consecutive quarters, but if the epidemic continues to be contained, the pressure of economic contraction is expected to ease slightly.

But he also mentioned that the unemployment rate in Hong Kong from July to September reached a 16-year high of 6.4%, and the underemployment rate rose from 1.2% to 3.8% during the same period.

In consumer and travel-related industries such as retail, accommodation and catering services, which were directly affected by the epidemic, the unemployment rate rose by 0.8 percentage points to 11.7%.

▼Citizens and officials participation in the National Testing Program ▼

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Chen Maobo pointed out that in order for the economy to regain the dawn, one of the methods is to restore the smooth flow of people and trade between Hong Kong and the Mainland, and is closely linked to the "inner circulation" in the Mainland. Then, even if the "outer circulation" is temporarily blocked, the economy can still be greatly revitalized.

But the more complicated and critical thing is to ensure that the local epidemic is under control so that the people of the two places can pass freely with peace of mind.

He pointed out that the government has invested more than 300 billion yuan in launching a number of support measures, but these assistance cannot be sustained for a long time, nor can it fundamentally solve the problem.

Chen Xu pointed out that from this perspective, compulsory testing for different scopes and target groups, or even large-scale compulsory testing, is an indispensable tool for epidemic prevention.

He described compulsory testing not only to help control the epidemic, but also to create conditions for resuming economic activities and alleviating economic pressure on wage earners and enterprises.

He said that effective control of the epidemic and thorough cleaning of local infections can truly create an environment conducive to economic recovery.

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New crown pneumonia Chen Maobo

Source: hk1

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