Foreign Property News | Posted by Zarni Kyaw
Eligible Hong Kong permanent residents will be able to apply for the government’s HK$10,000 (US$1,290) cash handout from June 21 with the first payments to be made as early as July 8, Financial Secretary Paul Chan Mo-po announced on Monday.
The scheme, which is available to adult Hongkongers, will be open until the end of next year so people who do not turn 18 until then can still apply.
“The quickest way to get paid is through electronic registration with banks,” Chan said. “I hope people will spend the cash to boost the economy.”
Chan said the government would “keep an open mind” on launching a fresh round of cash handouts to help a public hit hard by the coronavirus pandemic and economic downturn.
Financial Secretary Paul Chan revealed more details about the cash handout scheme on Monday. Photo: Felix WongFinancial Secretary Paul Chan revealed more details about the cash handout scheme on Monday. Photo: Felix Wong
Financial Secretary Paul Chan revealed more details about the cash handout scheme on Monday. Photo: Felix Wong
Eligible Hong Kong permanent residents will be able to apply for the government’s HK$10,000 (US$1,290) cash handout from June 21 with the first payments to be made as early as July 8, Financial Secretary Paul Chan Mo-po announced on Monday.
The scheme, which is available to adult Hongkongers, will be open until the end of next year so people who do not turn 18 until then can still apply.
“The quickest way to get paid is through electronic registration with banks,” Chan said. “I hope people will spend the cash to boost the economy.”
Chan said the government would “keep an open mind” on launching a fresh round of cash handouts to help a public hit hard by the coronavirus pandemic and economic downturn.
Chan unveiled the HK$71 billion handout in his budget speech in February, which could benefit about 7 million people and help ease their financial burden during the recession.
The payment is expected to be made in July, and Chan said most eligible residents should have received the money by the end of August.
To facilitate payment, 21 banks, including Bank of China (Hong Kong), Hang Seng Bank, HSBC and Standard Chartered Bank, will provide electronic registration services. Also on the list is the virtual bank ZA Bank.
Ref: SCMP
