Hong Kong announces new measures to help small businesses 'ride out the storm'

The Hong Kong Special Administrative Region (HKSAR) government announced new measures on Wednesday to help businesses deal with the economic downturn that accompanies the protests. Small and medium-sized businesses have been able to voice their concerns in forums.

Smaller firms in Hong Kong caught in the unrest of the city's violent protests will have immediate access to funding worth up to 35 billion Hong Kong dollars (4.5 billion U.S. dollars), senior officials said.

Hong Kong's Financial Secretary Paul Chan said, the "instant help" aims to help small and medium-sized firms to "ride out the storm."

The measures were unveiled shortly before the chief executive of HKSAR, Carrie Lam, announced the formal withdrawal of the fugitive bill.


Hong Kong stocks remain unstable 

Hong Kong stocks gained nearly four percent on Wednesday as tensions eased in the region. The Hang Seng Index surged to the highest level since October 2011.

However, the stocks lost about 0.03 percent on the following Thursday.

Hang Seng Index's performance from Sept. 1 to 5. /Screenshot of Google

Hang Seng Index's performance from Sept. 1 to 5. /Screenshot of Google