China News Service, Hong Kong, August 14th. The Financial Secretary of the Hong Kong Special Administrative Region Government, Chen Maobo, published a blog on the 14th, saying that the international geopolitical situation and the intensification of global inflation have seriously dragged down Hong Kong's export performance. The Hong Kong Special Administrative Region Government has lowered its economic growth forecast for the whole year , given that economic growth contracted by 2.6% year-on-year in the first half of the year, the economy is expected to improve for the rest of the year.
Chen Maobo said in his blog that after the issuance of the second phase of consumer coupons, the business of restaurants and shops has also increased, which has driven the sales of different exhibitions.
The "red and yellow codes" implemented by the SAR government last week and the adjustment of quarantine regulations for passengers arriving in Hong Kong, while effectively preventing the epidemic, hope to regain momentum for foreign-related economic activities, and relevant arrangements are welcome from all walks of life locally or overseas.
He also said that the move to suspend rent recovery was an exceptional measure taken at a time when the economic environment was at its most critical.
The three-month "protection period" of the moratorium on rent recovery regulations just ended at the end of last month, and many retail, catering and service industry organizations also said that the measures helped them avoid immediate closure and preserved the employment of employees.
The SAR government will also continue to provide assistance to merchants, such as speeding up the application review time of the "100% Guaranteed Special Loan" program, or assisting companies in need in debt restructuring.
He said that in the face of economic difficulties, we must, after balancing various factors in general, take measures according to the circumstances, effectively use public resources and introduce measures to stabilize the economy.
The above measures have positive effects on the economy. The SAR government will continue to closely monitor the changes in the epidemic, while taking into account the needs of economic development, and strive to ensure the survival and development space of all walks of life.
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