Hong Kong offers HK$10,000 cash to adult residents as economy hit hard by protests, virus outbreak

Hong Kong has unveiled its largest stimulus package in a decade to help ride out an economic slump. $15 billion will be spent from April 1. To deal with the fallout from political protests and the COVID-19 outbreak, Financial Secretary Paul Chan has promised subsidies, including cash payouts of nearly $1,300 to permanent residents aged over 18. There will also be additional cash for two sectors hit hard by the coronavirus outbreak. Healthcare will receive almost $10 billion, while the Hong Kong Tourism Board will get an extra $90 million. The measures are expected to bring about a record-high deficit for the next financial year at 4.8% of the country's GDP.

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