HK to See HK$15B Boost with Consumption Voucher Power: Financial Secretary Paul Chan

Financial Secretary Paul Chan wrote on his blog on Sunday, Oct. 2, that the second round of consumption vouchers released Saturday (Oct. 1) will help invigorate the local economy in the short term, with an injection around HK$15 billion of consumption power into the economy, as reported by RTHK News yesterday.

The voucher scheme has accepted a number of new electric payments with around 8 million consumer accounts and 150,000 city merchants registered on six online platforms.

Chan also noted, that the local epidemic situation and global political tensions may harm the economy in the short-term, with August seeing a decline in the city’s retail sales.

He also underscored that the government may need to provide more assistance in technological innovation for startups and enterprises to bolster Hong Kong’s economic momentum in the APAC region.