Letters | Coronavirus in Hong Kong: watch out for profiteering as HK$36 billion spending voucher scheme launches

With so many billions in spending about to hit the market, businesses and shop owners may have a perverse incentive to raise prices. The government should not allow this to happen

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Shops in Causeway Bay get ready with payment systems as the Hong Kong government prepares to give out HK$5,000 in consumption vouchers to each eligible resident from August 1. Photo: Warton Li

Published: 6:20am, 31 Jul 2021Updated: 1:55pm, 1 Aug 2021

I would like to respond to your report, “HK$5,000 vouchers: everything you need to know about the torrent of offers from payment platforms, retailers and restaurants” (July 29).

The Hong Kong government’s HK$36 billion (US$4.6 billion) consumption voucher scheme is due to launch tomorrow, with about 6.1 million people, or almost 85 cent of those eligible, set to receive their first instalment of HK$2,000 via the digital platforms of either Alipay HK, WeChat, Tap& Go or Octopus cards.

A lot of shopping malls and other businesses have joined the plan, with their own promotions and coupons to show that they support this policy.

Already people are sharing their opinions on social media about how to get more cash coupons. Both sides, consumers and businesses, just want to get the most out of this government handout.

Although the cash coupons are only for HK$5,000 per person, we can still do a lot with that in Hong Kong. I, for one, would spend most of it on dining and entertainment. I’m always reminded of the line from Dom Toretto in the first Fast& Furious movie, “I live my life a quarter-mile at a time ” – we just need to enjoy this moment in time, and not think too much of the future.

But there’s one concern about the government’s attempt to boost spending in an economy hit hard by the Covid-19 pandemic by giving out cash coupons.

06:35

Hong Kong consumer watchdog: be careful about purchases through e-consumption voucher scheme

While there have been several rounds of wage subsidies and other government aid, it is undeniable that businesses are earning much less than before the pandemic. While there have been several rounds of wage subsidies and other government aid for businesses, it is undeniable that they are earning much less than before the pandemic.