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Written by: Yuan Shu
2021-01-17 11:39
The last update date: 2021-01-17 11:39
The new crown pneumonia epidemic continues, affecting all walks of life.
Financial Secretary Chen Maobo published a blog today (17th) stating that the current situation is still very severe. Under the impact of the fourth wave of the epidemic, the unemployment rate to be announced will rise above the recent 16-year high, and the local labor market is under pressure. status.
He pointed out that the new budget will be deployed as soon as possible, investing in the future, and seizing the opportunity of transformation and upgrading in the crisis, so as to take the economic structure of Hong Kong to a higher level.
Chen Maobo predicted that the latest unemployment rate will break through a 16-year high.
(Profile picture / Photo by Liang Pengwei)
The Census and Statistics Department released the latest unemployment rate last month (17th). The unemployment rate from September to November this year was 6.3%, down from 6.4% in October. However, Chen Maobo pointed out that the latest unemployment rate from October to December last year will be announced soon. Under the impact of the fourth wave of the epidemic, it is set to rise above the recent 16-year high, and the local labor market is under pressure.
The total number of bankruptcy applications increased by 6.6% year-on-year. Compulsory winding-up applications rose by 7.2%.
Facing the overall situation in Hong Kong, he pointed out that although the Hong Kong economy has reversed its shrinking trend in the third quarter and quarter of last year, it will also be very high in 2021 It may return to positive growth, but the current situation is still very severe.
Take the recent figures released by the Official Receiver's Office as an example. Last year, the number of bankruptcy applications was close to 8,700, an increase of 6.6% year-on-year; about 450 petitions for compulsory winding-up were filed, an increase of 7.2% year-on-year.
In December, the Hong Kong Purchasing Managers Index returned to the contraction range, and the business atmosphere of SMEs also tended to be pessimistic.
He also said that what is even more worrying is that the traditional peak season for the Lunar New Year is approaching. This was originally the time when businesses such as retail and catering were the most prosperous and the most income, but now they are severely affected by the epidemic.
Chen Maobo, Financial Secretary.
(Photo by Li Zetong)
The government maintains a counter-cyclical fiscal policy. The new budget will deploy early investment in the future
Chen Maobo said that while striving to control the epidemic, the government maintains a countercyclical fiscal policy, increases social investment and creates job opportunities to cushion the impact of the economic downturn on the job market.
The government has allocated 6.6 billion yuan in the Anti-epidemic Fund to create about 30,000 short-term jobs in public and private organizations within two years. It has also created 4,400 jobs for graduates in the past one or two years.
He said that when compiling a new budget, it is necessary to consider the needs of the public under the current epidemic, and to make early deployment and investment in the future. He emphasized that summing up the past economic downturns should not only focus on solving the current difficulties, but also Let the whole society have the mentality and preparedness to meet the challenge, seize the opportunity of transformation and upgrading in the crisis, and push Hong Kong's economic structure to a higher level.
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