Hong Kong announces $15 billion relief package

The Hong Kong Special Administrative Region (HKSAR) government announced a 120-billion-Hong Kong-dollar (15.4 billion U.S. dollars) relief package in a bid to help the city ride out the economic slump.

The budge includes a 10,000-Hong Kong-dollar (1,200 U.S. dollars) cash handout for each permanent resident aged 18 and above.

Financial Secretary Chan Mo-po announced the plan on Wednesday and said the budget will focus on helping businesses and relieving people's burdens, adding that in 2020 the novel coronavirus outbreak will put great pressure on the labor market but the economy will recover after the outbreak ends.