Relief 'should Go To The Hardest-hit Sectors'
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2019-08-16 HKT 13:12
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Danny Lau speaks to RTHK's Janice Wong
The honorary chairman of the Hong Kong Small and Medium Enterprises Association on Friday called on the government to set up a new fund to the tune of HK$6 billion to help industries hardest hit by recent anti-extradition protests.
Danny Lau said about 30,000 firms in the retail, tourism and food and beverage sectors could each receive about HK$200,000 to help them weather the storm.
"The most affected industries... they need more assistance from the government. I will suggest [forming] a new fund specially to help those industries," he said.
Lau said the HK$19 billion relief package unveiled by the government on Thursday to help SMEs, fails to help businesses that need it the most.
He did voice support for the government's revised GDP growth estimate of 0 to 1 percent for 2019.
Lau believes the Hong Kong economy could see negative growth in the third quarter, after growth of less than 1 percent in the first two quarters.
And he said fourth-quarter growth would very much depend on how the anti-extradition protests play out.
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