[Commentary] On April 8, the Hong Kong SAR Government announced the second round of anti-epidemic and anti-epidemic funds, involving a total of 137.5 billion Hong Kong dollars, the main goal is to protect employment and help enterprises and citizens to overcome difficulties.

[Commentary] The Chief Executive of the Hong Kong Special Administrative Region, Lin Zhengyue, said at the press conference held that evening, the epidemic prevention and anti-epidemic fund includes a job security plan of 80 billion Hong Kong dollars, and the government will provide wage subsidies to qualified employers. You can get HK $ 9,000 for 6 months, but the employer must promise not to lay off employees. In order to create jobs, Lin Zhengyue pointed out that in the next two years, about 30,000 time-limited (not more than 12 months) jobs will be created in public and private institutions, covering people with different educational backgrounds and skills, involving an amount of HK $ 6 billion. In addition, for the tourism, aviation, passenger transportation and catering industries that have been hit hard recently, the government has also launched 16 measures with an estimated expenditure of HK $ 21 billion.

[Same period] Chief Executive of the Hong Kong Special Administrative Region Lin Zheng Yue'e

Since we are facing unprecedented challenges, the SAR Government also has to make unprecedented responses. Our response objectives are several: first, to assist enterprises to continue to operate; second, to keep employees in employment; third, It is to reduce the financial burden of enterprises and citizens; fourth, it is to hope that the economy can recover as soon as possible after the epidemic is controlled.

【Explanation】 Under the influence of the social disturbance and the epidemic situation, the latest unemployment rate in Hong Kong is 3.7%, the highest in nine years. Lin Zhengyue announced that he and the main government officials will reduce their salaries by 10% in the next 12 months, to show that they are going through hardships with the public.

[Commentary] Chen Maobo, the Financial Secretary of the Hong Kong Special Administrative Region Government, said that the two rounds of anti-epidemic and anti-epidemic funds and the "Fundamental Budget" announced in February will add up to nearly 290 billion Hong Kong dollars, nearly 10% of Hong Kong's GDP in 2019 China ’s fiscal reserves are expected to be reduced from 1.1 trillion Hong Kong dollars to more than 800 billion Hong Kong dollars, but Hong Kong ’s public finances are still healthy and the SAR government will not issue bonds for the time being.

[Same period] Chen Maobo, Financial Secretary of the HKSAR Government

In fact, when we are in good economic times, we gradually build up these reserves, which is to let them work when we encounter difficulties, so that we can launch large-scale countercyclical support measures to alleviate when the environment is difficult. The impact of the economic downturn on citizens' employment and life.

Reporter Li Yuqi Hu Dingxuan reports from Hong Kong

Editor in charge: [Ji Xiang]