China News Agency, Hong Kong, February 26 (Reporter Zeng Ping) The Financial Secretary of the Hong Kong Special Administrative Region, Chen Maobo, announced on the 26th that Hong Kong permanent residents aged 18 or above will be issued HK $ 10,000. A number of professionals said in an interview with a reporter from China News Agency that this move is a special means in a special period, and it is also a bold and groundbreaking approach that will help alleviate the urgent needs of the "wage earners."

Chen Maobo released the latest Budget in the Legislative Council of the SAR on the same day, announcing a number of measures to relieve the hardships of the people, including: a reduction of 100% salaries tax and personal income tax for the year of assessment 2019/20, with a ceiling of 20,000 Hong Kong dollars; annual rates for residential properties in 2020/21 will be waived, up to a maximum of 1,500 Hong Kong dollars per quarter per household; one month's worth of Comprehensive Social Security Assistance Standard, Old Age Allowance, Elderly Living Allowance or Disability Allowance; and pay the examination fee on behalf of school candidates taking the Hong Kong Diploma of Secondary Education Examination 2021.

"Hong Kong's economy has been sluggish for the past six months, and both the grassroots 'wage earners' and small and medium-sized enterprises have faced great difficulties in the New Crown epidemic. At this time, the easiest way is to issue cash to the citizens." That said, this is a special means for special times. He bluntly stated that in the past he was not in favour of sending money, but this time Hong Kong was more difficult than during the SARS period. The restaurant and hotel industry "was crying" and frontline employees faced great risks of unemployment and pressure. Therefore, the SAR government took measures at this time. It is both psychologically and practically worthwhile.

Hong Weimin also said that the audience for this money distribution is permanent residents and does not require approval. It is suggested that the SAR government can use technology solutions to speed up the distribution. In the long run, each citizen should have a unified account with the government to facilitate all possible money exchanges in the future, including the convenience of paying taxes and rebates.

Chen Maobo said in the Legislative Council that Hong Kong's economy has been hit hard by social events and new coronavirus outbreaks in the past few months. After careful consideration, Hong Kong permanent residents aged 18 or above will be issued HK $ 10,000, which will encourage and stimulate local consumption on the one hand and ease economic pressure on the other. The measures are expected to benefit approximately 7 million people and involve approximately HK $ 71 billion.

Li Hanxiang, Managing Director of Global Management Consulting Co., Ltd. believes that the various measures in this Budget will benefit almost all Hong Kong citizens, and in particular the distribution of HK $ 10,000 is a radical breakthrough. This shows that the Financial Secretary has the courage to take responsibility, Dare to act. For the "wage earners" who have recently been affected by layoffs and pay cuts, this money can be said to be "dry manna", which relieves the urgent needs of daily life. (Finish)