Coronavirus: small firms in Hong Kong to get faster access to loan scheme to help them stay afloat, says finance chief Paul Chan

March 11, 2020
SCMP Updates
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Tony Cheung
tony.cheung@scmp.com

Olga Wong
olga.wong@scmp.com
 
  • Financial Secretary Paul Chan also promises that government will create more jobs to help those out of work get back on their feet
  • With city battling to contain spread of Covid-19, Chan sets out his views in a panel discussion held by the Post as part of its Redefining Hong Kong series
Small and medium-sized businesses can tap into loans fully guaranteed by the Hong Kong government as early as the end of next month, as the administration plans to expedite relief measures to rescue an economy battered by the coronavirus epidemic, the city’s finance minister says.

Financial Secretary Paul Chan Mo-po also promised that the government would create more jobs, including temporary employment, to help those out of work get back on their feet.

The administration would strive to roll out other relief schemes announced in the budget he unveiled a fortnight ago
 as quickly as possible, Chan said on Wednesday, stressing these should form an adequate response for now to mitigate not just the impact of the outbreak but also the recent rout of global markets and the oil price war.

But he pledged that the government stood ready to inject more stimulus measures if necessary with the aim of boosting economic activity and consumption and ensuring financial stability.

With the city battling to contain the spread of the deadly Covid-19 disease, Chan set out his views in a panel discussion held as a live webinar by the Post as part of its Redefining Hong Kong series.

The pathogen has so far infected more than 118,000 people worldwide. China has recorded more than 80,000 infections, while Italy, Iran and South Korea have had more than 10,000, 8,000 and 7,000 cases respectively. Hong Kong has 
recorded 129 infections, including three fatalities. Continue Reading 
 
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