Gadgets for youngsters and dim sum for elderly

A million Hongkongers used the Octopus app to get the first installment of their consumption vouchers on Thursday, the first day of distribution, according to Financial Secretary Paul Chan Mo-po.

Chan, writing on his blog, said after last year's disbursement, people have become more familiar with the collection process and that this time one million people managed to collect their vouchers using the Octopus app. That is, he added, 37 percent higher than last year.

"Some youngsters used the vouchers to buy electronic products, while some elderly ordered more dim sum at breakfast in restaurants," Chan said.

"Housewives also bought more ingredients for dinner."

The first installment of HK$5,000 is valid until October 31, with some people saying they plan to use it later when the pandemic situation eases and after comparing discounts by different shops and malls.

"We are also aware that quite a lot of merchants have provided a longer validity period for their discounts," Chan said.

"Some are even offering follow-up promotions to keep the enthusiasm for consumption so people can enjoy shopping when the epidemic is further controlled and social distancing measures relaxed to accelerate the economic recovery."

The first installment was disbursed to 6.3 million Hongkongers on Thursday.

Those using Octopus cards have to collect the first installment in two phases - HK$4,000 in the first phase and HK$1,000 on June 16 at the earliest after their eligible spending reaches HK$4,000.

People may collect the vouchers at subsidy collection points of the public transport fare subsidy scheme, designated convenience stores and supermarkets, Octopus service points or through the Octopus app.

Due to the card's stored value limit, people get HK$3,000 at most on the first tap, with the rest after there is room within their limit.

Chan also said the government will launch the HK$15 billion retail green bond soon, considering that the pandemic situation is subsiding and many commercial activities have gone online.

He expects people to subscribe by the end of the month and the quota can be increased to up to HK$20 billion depending on the subscription.

The subscription period of the first batch of retail green bonds was originally scheduled for March 1 to 11, but it was postponed due to the fifth wave.

Meanwhile, another voucher scheme facility, AlipayHK, said the online transaction amount recorded on Thursday was up 85 percent on the first day of disbursement on August 1 last year.

It said about 20,000 users had spent all their HK$5,000 vouchers on Thursday, while the overall transaction amount was 250 percent higher than the day before the voucher disbursement.

AlipayHK said many users spent their voucher on food and drinks.

Sung Hung Kai Properties executive director Maureen Fung Sau-yim said foot traffic in the group's 15 malls have returned to a level before the fifth wave, while merchants have recorded an average growth of 20 to 30 percent in business compared to last month, thanks to consumption vouchers and easing pandemic.

sophie.hui@singtaonewscorp.com