HK businesses welcome relief measuresLocal | 16 Aug 2019 7:20 pm
The Hong Kong General Chamber of Commerce said today it welcomes Financial Secretary Paul Chan Mo-po’s package of measures announced yesterday to support businesses.
Chairman Aron Harilela, said members have told them that the Sino-U.S. trade disputes and protests are starting to bite into their bottom line.
"Large businesses will be able to absorb the effects of the downturn, but smaller businesses, many of whom depend on their business turnover for their livelihood, will no doubt be very relieved about the support measures," he said.
Shirley Yuen, the chamber chief executive hopes the government will also take the opportunity to work with lending institutions to see what can be done to minimize bureaucracy to make sure small and medium enterprises who require the loans manage to get them in a timely manner.
Chan announced yesterday a stimulus package worth HK$19 billion which includes waiving 27 groups of government fees and charges for 12 months for sectors that are badly hit by the downturn.