HK to give big cash handouts as economy reels
Mongkok in Hong Kong, China. The last cash handout for Hong Kong residents was in 2011, three years after the global crash sparked the city's last recession. – EPA pic, February 26, 2020.
HONG Kong’s government today said it will give a HK$10,000 handout to seven million permanent residents in a bid to jump-start a recession-hit economy now compounded by the coronavirus outbreak. Financial Secretary Paul Chan unveiled the cash gift in an annual budget, committing HK$120 billion to help alleviate the worst economic downtown the international financial hub has faced in a decade.
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