Hong Kong Govt To Spend HK$120 Bln To Stimulate Economy

The Hong Kong government plans to spend HK$120 billion to alleviate the hardship and pressure caused by the coronavirus pandemic, Financial Secretary Paul Chan said in his 2021-22 budget speech on Wednesday. The economy shrank 6.1 percent in 2020, which was the largest annual fall on record and also the first time for Hong Kong to log two consecutive years of contraction.