Hong Kong Economic Outlook of Hong Kong and COVID-19 Relief Measures to General Public Business

2020-12-16 11:45
In light of the challenges arising from the COVID-19 pandemic, the HKSAR(The Government of the Hong Kong Special Administrative Region) has introduced financing support, tax, and other temporary relief measures intended to help Hong Kong businesses survive the dramatic short term effects of COVID-19 assist the Hong Kong economy is recovering after the COVID-19 crisis passes.

It is providing financing support in the form of the SME Financing Guarantee Scheme, the Employment Support Scheme, as well as financing support and other temporary relief measures introduced by the Government to ensure business continuity are mainly intended to support Hong Kong based SMEs, specific industries subsidies, and other relief measures.

The Technology Voucher Program desires to subsidize local enterprises using technological services and solutions to strengthen productivity or upgrade or transform their business processes. In general, applicants can propose technological services and solutions which can meet the objectives of TVP(Technology Voucher Program) for funding, which can concertize the project would have a “direct impact” on its business operation in Hong Kong. Each project should normally be completed within 12 months.

Hong Kong cuts full-year economic outlook, recovery from recession depends on how fast it can get a new wave of coronavirus infections under control.

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