Hong Kong will give each of its adult permanent residents $1,284 in cash—a $9 billion combined payout—and slash salaries tax for close to two million workers as it tries to resuscitate its economy
Hong Kong’s government said it would dole out $15.4 billion in cash payouts and other stimulus in its annual budget in an attempt to resuscitate an economy reeling from the coronavirus epidemic and months of antigovernment protests.
The city will give each of its adult permanent residents 10,000 Hong Kong dollars in cash—a $9 billion combined payout—and slash salaries tax for close to two million workers, Financial Secretary Paul Chan said Wednesday. He also announced tax breaks and financial aid for companies.
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