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Chen Maobo announced a new batch of silver bond electronic consumer coupons at the end of June to promote the development of the digital economy

2021-06-14T17:35:08.374Z

Financial Secretary Chen Maobo published a blog today (13th), stating that the latest batch of iBond subscriptions has received an overwhelming response, with more than 710,000 applications; the total initial subscription amount exceeded HK$54.5 billion. The government will 6



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Written by: McCain

2021-06-13 11:29

Last update date: 2021-06-13 11:31

Financial Secretary Chen Maobo published a blog today (13th), stating that the latest batch of iBond subscriptions has received an overwhelming response, with more than 710,000 applications; the total initial subscription amount exceeded HK$54.5 billion.

The government will announce the issuance details of a new batch of Silver Bonds at the end of June, and the subscription age threshold will be lowered from 65 to 60.

In addition, he mentioned that the issuance of electronic consumer vouchers is to promote the development of electronic payment and the digital economy. He believes that there is room for growth in electronic consumption in Hong Kong.

Financial Secretary Chen Maobo said that the promotion of electronic consumer coupons will promote the development of the digital economy.

(Information Picture / Photo by Luo Junhao)

The subscription of a new batch of inflation-linked bonds (iBond) ended last week. Chen Maobo believes that the response has been very enthusiastic and raised the issuance amount from the original 15 billion to 20 billion Hong Kong dollars.

He pointed out that a total of more than 710,000 people applied, a significant increase of 55% over the batch of bonds issued last year; the total initial subscription amount exceeded HK$54.5 billion, 40% more than last year, and both set new records since the issuance in 2011.

The government will announce details of the issuance of a new batch of Silver Bonds at the end of June. The issuance amount will be no less than HK$24 billion, and the eligible age for subscription will also be lowered from 65 to 60.

Chen Maobo also mentioned in his blog that Hong Kong's financial services are developing vigorously, but there is still much room for improvement and growth in electronic payment and online sales at the consumer level.

The total online retail sales of goods in Hong Kong exceeds 8.1 billion yuan

In the first four months of this year, the total online retail sales of goods in Hong Kong exceeded 8.1 billion yuan, a year-on-year increase of 53%, which was much higher than the overall retail sales growth of 8.3%.

However, the growth only accounts for 7% of Hong Kong's total retail sales, which is much lower than the mainland's over 20%. Chen Maobo believes that there is still plenty of room for improvement in Hong Kong.

Chen Maobo pointed out that if Hong Kong’s electronic payment is stagnant, the business space of local enterprises and small merchants will be weakened in the future, and consumers’ product choices and convenience will also be sacrificed, which is not conducive to the overall development of the digital economy in Hong Kong. The e-consumer voucher scheme promoted by the government can not only allow citizens to spend extra money, but also promote the application of e-consumption, helping small businesses to participate more on the e-platform.

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Source: hk1

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