[Wuhan pneumonia] Chen Mao expects consumer industry to enter "deeper winter" fiscal deficit or rising

Social News

Written by: Zhang Meihua

2020-02-02 11:45

The spread of a new coronavirus related to Wuhan pneumonia. The Financial Secretary, Chen Maobo, published a blog today (2), stating that Hong Kong's economy has fallen into negative growth in 2019. Under the threat of the new coronavirus pneumonia epidemic, food, retail, tourism, and The consumer industry will fall into a deeper "cold winter". This year, the risk of continued economic contraction is greatly increased, and the fiscal deficit may rise further.

▼ Hong Kong Wuhan pneumonia epidemic ▼

+14

+13

+12

Chen Maobo said that Hong Kong's economy has fallen into negative growth in 2019 and has not yet escaped the risk of continued decline in 2020. He has encountered the threat of a new coronavirus pneumonia epidemic, and he will definitely cause a double blow to the economy. Chen Maobo went on to point out that the catering, retail, tourism and consumer industries, which have been under pressure for the past six months, will fall into a deeper winter, and the pressure on SMEs and wage earners will also be greater.

Prior to the outbreak, different agencies in the market forecasted Hong Kong's economic growth this year ranging from 2% to negative 4.1%, with a median forecast of zero growth. As for the government's economic forecast for this year, it has not yet been finalized, and the development and duration of the epidemic will be one of the main considerations. Chen Maobo estimates that the epidemic will greatly increase the risk of continued economic contraction this year. It will also affect government revenue and expenditure, which means that the fiscal deficit may rise further.

Chen Maobo said that he will ensure that all epidemic prevention and anti-epidemic work and the medical system will be provided with sufficient financial resources so that Hong Kong can fight the epidemic prevention war. In terms of financial markets, it will lead relevant departments and financial regulatory agencies to do real-time, comprehensive and cross-market monitoring and coordination. The spread of the epidemic has put pressure on Hong Kong and major overseas stock markets, but trading and settlement in the Hong Kong market are still proceeding in a stable and orderly manner. Chen Maobo stressed that he will continue to be vigilant and closely monitor to ensure Hong Kong's financial security.

▼ The government's latest upgrade of epidemic prevention measures ▼

+11

+10

+9

In view of the rapid escalation of the new coronavirus pneumonia over the past week, confirmed cases have been reported in different regions. Chen Maobo pointed out that how to do a good job in epidemic prevention and anti-epidemic work has become the world's top priority. Measures have also been strengthened in various places to reduce the spread of the disease in the community risk. In the context of increasing alert and strengthening the procurement of anti-epidemic materials around the world, Hong Kong is facing increasing challenges in procuring related materials.

He continued to point out that Chief Executive Lin Zhengyue announced a new round of epidemic prevention arrangements last week, including extending the suspension of middle school, elementary school, kindergarten, kindergarten and special schools, and extending the special work arrangements for civil servants, along with the earlier restrictions on Hubei residents and any visits to the past 14 days. Measures such as the entry of people from Hubei into Hong Kong and the suspension of personal travel endorsements are aimed at minimizing the cross-border and local movement of people and minimizing the risk of virus transmission in the community.

The government also calls on employers to make flexible work arrangements for employees to reduce unnecessary travel needs of employees. At the same time, the government will strengthen cross-sectoral cooperation to strengthen the procurement of materials needed in the global market, and strive to stabilize the supply of epidemic prevention supplies. Chen Maobo called on individuals to maintain a healthy body, reduce travel, and at the same time pay attention to personal hygiene and improve preparedness. It is also said that "rumors, hatred, and negative actions are not conducive to fighting the virus. Unity and mutual support can play a greater role. "

[Wuhan Pneumonia] Yuan Guoyong: It is not reasonable to stimulate medical care by words, and the authorities respond to medical demands

[Wuhan Pneumonia] Luo Zhiguang: Social donation masks to be distributed to non-governmental welfare agencies

[Wuhan pneumonia] Guild member Lin Zhengcai: The government does not rule out legislation to reduce the flow of customs

[Wuhan pneumonia] Zhang Jianzong's highest respect for frontline medical care

[Wuhan Pneumonia] Suspected local case Yuan Guoyong: Ignore nationality, do not enter or exit the country unless necessary

Wuhan pneumonia, Wuhan, Chen Maobo, catering, tourism, tourism