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Hong Kong economy
Hong KongHong Kong economy

Hong Kong permanent residents can get HK$10,000 cash handout from July 8, finance minister Paul Chan says

  • Applications can be made from June 21 with city’s banks signing on to help distribute funds
  • Giveaway was outlined in budget and hope is residents will spend money to boost economy

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Financial Secretary Paul Chan revealed more details about the cash handout scheme on Monday. Photo: Felix Wong
Denise TsangandLilian Cheng

Eligible Hong Kong permanent residents will be able to apply for the government’s HK$10,000 (US$1,290) cash handout from June 21 with the first payments to be made as early as July 8, Financial Secretary Paul Chan Mo-po announced on Monday.

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The scheme, which is available to adult Hongkongers, will be open until the end of next year so people who do not turn 18 until then can still apply.

“The quickest way to get paid is through electronic registration with banks,” Chan said. “I hope people will spend the cash to boost the economy.”

Chan said the government would “keep an open mind” on launching a fresh round of cash handouts to help a public hit hard by the coronavirus pandemic and economic downturn.

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Hong Kong budget offers HK$10,000 handout to permanent residents as part of relief measures

Hong Kong budget offers HK$10,000 handout to permanent residents as part of relief measures
Chan unveiled the HK$71 billion handout in his budget speech in February, which could benefit about 7 million people and help ease their financial burden during the recession.
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