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Hong Kong goes on a spending spree as HK$5,000 e-vouchers scheme launches
- Shoppers splurge on Rolex watches, electronics, gadgets and eating out as digital vouchers spending kick off
- Government’s HK$36 billion initiative aims to ‘benefit our economy and jobs market’, financial chief Paul Chan says
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Spending of the first batch of coupons under the Hong Kong government’s HK$5,000 (US$643) e-voucher scheme kicked off on Sunday with residents across the city going on shopping sprees and flocking to restaurants.
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Consumers were seen snapping up everything from Rolex watches to fast food on the scheme’s launch, with malls drawing in crowds through live broadcasts of the Tokyo Olympics.
Electrical appliances and gadgets also proved popular with those taking advantage of the HK$36 billion initiative, designed to boost local spending and accelerate the city’s economic recovery amid the Covid-19 pandemic.
Financial Secretary Paul Chan Mo-po was among early-bird spenders as he urged residents to quickly use the vouchers in areas such as buying gifts or eating out.
“By distributing more than HK$30 billion to the pockets of everyone, people will be spending and hopefully in turn that can benefit our economy and jobs market,” Chan said.
“We also hope the vouchers can promote the trend of electronic payments … We believe overall, the vouchers will have a positive impact. Its concrete impact will be reviewed after the scheme has been rolled out.”
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