Published: 19:10, June 12, 2020 | Updated: 00:38, June 6, 2023
Hong Kong Coalition reveals latest plans to help HK businesses
By Edith Lu

The Hong Kong Coalition launches a campaign on Thursday at a press conference held in Central, Hong Kong, to encourage consumption and stimulate the city’s economy that has been ravaged by months-long social unrest and the coronavirus pandemic. (CHINA DAILY)

The Hong Kong Coalition said on Thursday it has created an open platform on its website for retailers and restaurants to share information on special offers.

This is in a new move to encourage local residents to spend their HK$10,000 ($1,290) cash handouts helping these businesses.

The coalition, co-convened by former Hong Kong chief executives Tung Chee-hwa and Leung Chun-ying, said the open platform would help to boost consumption and revive Hong Kong’s depressed economy.

We hope to promote local consumption. We hope this platform will grow bigger and bigger and then consumers will use the information wisely 

Kennedy Wong Ying-ho, 

deputy secretary general of the Hong Kong Coalition 

The coalition said it is also holding talks with businesses and landlords on ways they can offer more incentives to attract customers. Promotional information on this will be posted on the coalition’s official website.

Coalition deputy secretary general Connie Wong Wai-ching said introduction of the platform comes at the same time as the SAR government plans to distribute HK$10,000 in cash to every Hong Kong permanent resident. Wong said she expects shopping malls will launch various promotional events and use the coalition’s website as a marketing channel.

Financial Secretary Paul Chan Mo-po said this week registration for the HK$10,000 cash subsidy would begin on June 21. Disbursing the money to people will begin as early as July 8. A total of HK$70 billion will be distributed under the plan.

Coalition deputy secretary general Kennedy Wong Ying-ho said: “The HK$70 billion will flow into the city’s economy hopefully in the next several months.

 “We hope to promote local consumption. We hope this platform will grow bigger and bigger and then consumers will use the information wisely,” Wong added.

There already are 26 items of promotional information on the coalition's website from six restaurants, 12 retailers and eight service providers from different sectors.

The food and beverage sector, as well as retail industry, has been badly affected by months of social unrest which erupted in June last year, as well as the COVID-19 pandemic. This has forced hundreds of businesses to close down, lay off staff or reduce wages.

Hong Kong’s jobless rate surged to 5.2 percent during the February-April period — the highest in over 15 years. It rose from 4.2 percent recorded in January to March, according to Census and Statistics Department figures released on May 19.

Unemployment in the consumption and tourism-related sectors rose to 9 percent — the highest in more than 15 years. The joblessness rate in the food and beverage industry has now reach 12 percent.

The Hong Kong Coalition was set up in early May with the intention of helping the city’s businesses and economy recover from social unrest and the coronavirus. It also aims to help the city’s young people find work.

The coalition is led by prominent Hong Kong leaders including Tung and Leung and also Tam Yiu-chung, member of the National People's Congress Standing Committee. It is supported by 1,545 representatives from different areas of society.

edithlu@chinadailyhk.com