Social News
Written by: McKay
2021-03-28 11:49
Last update date: 2021-03-28 11:49
The new crown epidemic has hit the economy. Financial Secretary Chen Maobo published a blog today (28th) stating that Hong Kong's economic performance in the third quarter of last year improved for a while, but the outbreak of the epidemic at the end of November has caused the unemployment rate to rise to a 17-year high. 7.2%.
As the epidemic has gradually subsided recently, many parts of the world have launched vaccination programs one after another. Hong Kong’s exports of goods recorded a 37.6% growth in the first two months. It is believed that the global economy will gradually recover in the second half of the year.
The unemployment rate in Hong Kong climbed to a 17-year high of 7.2%.
(Information Picture / Photo by Luo Junhao)
Chen Maobo pointed out that the epidemic in the Mainland was quickly brought under control and the economy quickly recovered. The Mainland’s economic growth target for this year is more than 6%. As the world’s second largest economy with a GDP of more than RMB 100 trillion, it is believed to be possible. The global economy provides the main growth driver.
He believes that as many parts of the world have successively launched vaccination programs, coupled with the loose monetary environment and the support of large-scale fiscal stimulus measures by local governments, the global economy is expected to gradually recover in the second half of the year.
Financial Secretary Chen Maobo pointed out that as the epidemic has gradually subsided recently, many parts of the world have successively launched vaccination programs, and Hong Kong's exports of goods have increased by 37.6% in the first two months.
(Profile picture)
Chen Maobo believes that the dawn of the road ahead is gradually emerging, but the immediate predicament is still there. The SAR government has introduced countercyclical measures of more than 120 billion yuan and introduced different capital turnover and loan plans to support enterprises and individuals.
He said that the "100% Guaranteed Preferential Loan" launched in April last year had approved more than 28,000 applications in less than a year, involving an amount of about 45.3 billion Hong Kong dollars, and related companies employed more than 260,000 employees in total.
As for the "100% Guaranteed Personal Preferential Loan Program" with a commitment of HK$15 billion by the government, it is expected to be launched within the next month.
Chen Mao wavering, the plan is an emergency relief measure, and the application conditions are as simple and clear as possible. Since banks do not have to worry about bad debts, I believe they can process applications more efficiently.
▼The government's launch of electronic consumer coupons can stimulate the consumer market▼
New crown pneumonia|The person in charge of the restaurant has 3 out of 4 branches closed due to the epidemic: borrowing is required to maintain business
[New Coronary Pneumonia] Lei Dingming expects to borrow if the economy recovers slowly or runs out of reserves within ten years
Budget | Increase in stamp duty on stocks drags the stock market?
Chen Maobo retorted: Shanghai and Tokyo fell
Budget | Stock stamp duty hikes, stocks plummeted, Chen Maobo said that trading is still brisk
Budget | Chen Maobo: Consumer vouchers have a 0.7% boost to the economy and can also be used for charity
COVID-19 Financial Reserve Financial Secretary Chen Maobo