HKSAR chief executive announces four actions to find way out of current impasse
CHIEF Executive of China’s Hong Kong Special Administrative Region Carrie Lam said yesterday that the HKSAR government will take four actions to initiate a dialogue to find a way out of the current impasse for Hong Kong.
In a televised speech, Lam elaborated on the four actions the HKSAR government will take, including formally withdrawing the proposed amendments to the Fugitive Offenders Ordinance and the Mutual Legal Assistance in Criminal Matters Ordinance.
Lam said the HKSAR government will fully support the work of the Independent Police Complaints Council and will seriously follow up the recommendations made in the IPCC’s report.
Lam said she and principal officials will reach out to the community to start a direct dialogue from this month. People from all walks of life, with different stances and backgrounds, are invited to share their views and air their grievances.
Lam said she will also invite community leaders, professionals and academics to independently examine and review society’s deep-seated problems and to advise the HKSAR government on finding solutions.
(Xinhua) DECLINE of business activities in Hong Kong accelerated in August to near-record levels as protests continue to dampen demand, London-based consulting firm IHS Markit reported yesterday.
Hong Kong’s Purchasing Manager’s Index sank to 40.8 in August, down from 43.8 in July, signaling the steepest deterioration in the health of the private sector since February 2009, according to IHS Markit’s PMI survey.
The only other time that the PMI survey has recorded a steeper downturn was during the SARS epidemic in 2003 and the global financial THE government of China’s Hong Kong Special Administrative Region yesterday announced new financing support for small and medium-sized enterprises to help them fend off downside economic risks.
Paul Chan, financial secretary of the HKSAR government, disclosed details about the new favorable policies after attending an SME forum yesterday.
Under the existing SME Financing Guarantee Scheme, a new product that provides guarantee coverage of 90 percent crisis in 2008, said Bernard Aw, principal economist at IHS Markit.
PMI is a composite singlefigure indicator of economic performance derived from indicators for new orders, output, employment, suppliers’ delivery times and stocks of purchases. Figures greater than 50 indicate overall improvement of the economy.
“The latest PMI data reveal a Hong Kong economy flirting with recession in the third quarter as business activity is increasingly aggravated by protest-related paralysis,” Bernard Aw added.
(Xinhua) will be introduced, with the maximum loan up to HK$6 million (US$765,300) for a single borrower and a guarantee period up to five years, Chan said, adding that SMEs will be exempted from the requirement of being in operation for at least one year.
SMEs that obtain loans through the product with 80percent guarantee coverage can only pay interests for six months and will be allowed for an extension for another six months, Chan said.
(Xinhua)