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Historical COVID-19 Financial Response
Tracker		by the Yale Program on Financial Stability (YPFS)FOR INTERVENTIONS MADE AFTER 9/1/20 PLEASE VIEW OUR NEW TRACKER STYLE ON THE YPFS COVID-19 WEBSITE.
Purpose: This tracker follows interventions by central banks, fiscal authorities, and organizations aimed at restoring financial stability. The tracker will also highlight proposals from people and institutions outside of government. Email us with questions or comments at ypfs@yale.edu. PLEASE NOTE: this tracker is not meant to be comprehensive and aims to track as many interventions as possible across the globe. If you have any questions or suggestions for responses we may have missed, please click here: https://forms.gle/jwtsWjZSiDKUAba16		Link to YPFS COVID-19 Crisis Materials
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Blue=Official actionsGreen=Official proposalsYellow=Other experts
Link to the Tracker Visualization
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Country(ies) Date
(MM/DD/YYYY)		Action or ProposalName and/or OrganizationPolicy Action TypePolicy Action DetailsAction Link
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Hong Kong2/14/2020ActionHong Kong GovernmentFiscal StimulusAnnounced the establishment of a $25 billion (later increased to $30 billion) Anti-Epidemic fund to help local residents and businesses tide over the coronavirus situationhttps://www.news.gov.hk/eng/2020/02/20200214/20200214_193137_172.html?type=category&name=covid19&tl=t
54
Hong Kong2/20/2020ActionHong Kong Education BureauFiscal StimulusAnnounced the provision of additional subsidies to kindergartens paid from the Anti-Epidemic fund, primary and secondary schools to alleviate the burden of schools and parents in paying extra expenses during the fight against the novel coronavirus epidemic and class suspensionhttps://www.news.gov.hk/eng/2020/02/20200220/20200220_114326_464.html?type=category&name=covid19&tl=t
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Hong Kong2/20/2020ActionHong Kong Home Affairs BureauFiscal StimulusEstablished the Property Management Sector Support Scheme under the Anti-epidemic Fund, providing hardship allowances to cleansing or security workers and property management company or owners or residents organisations will be given an anti-epidemic cleansing subsidy lump sum of $2,000 per building blockhttps://www.news.gov.hk/eng/2020/02/20200220/20200220_213509_930.html?type=category&name=covid19&tl=t
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Hong Kong2/24/2020ActionHong Kong Home Affairs BureauFiscal StimulusCreation of the Travel Agents Subsidy Scheme in which eligible travel agent may receive a one-off subsidy of $80,000 and Licensed Guesthouses Subsidy Scheme in which each eligible guesthouse may receive a one-off subsidy of either $50,000 or $80,000, depending on the number of their licensed guestroomshttps://www.news.gov.hk/eng/2020/02/20200224/20200224_173329_360.html?type=category&name=covid19&tl=t
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Hong Kong2/26/2020ActionHong Kong Monetary AuthorityLoan Guarantees- HKMC Insurance Limited (HKMCI) will introduce special 100% Loan Guarantee under the SME Financing Guarantee Scheme (SFGS)
- Including sectors mostly affected by the coronavirus outbreak such as retail outlets, travel agents, restaurants, cinemas, karaoke establishments and transport operators, etc		https://www.hkma.gov.hk/eng/news-and-media/press-releases/2020/02/20200226-3/
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Hong Kong2/26/2020ActionHong Kong Ministry of FinanceFiscal StimulusAnnounced the Cash Payout Scheme, a HK$10,000 cash handout for all permanent residents over the age of 18https://www.budget.gov.hk/2020/eng/nt.html

https://www.news.gov.hk/eng/2020/06/20200603/20200603_191442_116.html?type=category&name=covid19
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Hong Kong2/26/2020ActionHong Kong Ministry of FinanceFiscal StimulusAnnounced a salary tax cut of 100 per cent for the 2019-20 year up to a ceiling of HK$20,000 – set to benefit 1.95 million taxpayers and cost HK$18.8 billionhttps://www.budget.gov.hk/2020/eng/nt.html
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Hong Kong2/26/2020ActionHong Kong Monetary AuthorityCredit FacilitiesAnnounced that Hong Kong Mortgage Corporation Limited (HKMC) will introduce a pilot scheme for fixed-rate mortgages for 10, 15 and 20 years. It aims to provide an alternative financing option to homebuyers for mitigating their risks arising from interest rate volatility, thereby enhancing banking stability in the long runhttps://www.hkma.gov.hk/eng/news-and-media/press-releases/2020/02/20200226-4/
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Hong Kong2/28/2020ActionHong Kong Ministry of FinanceFiscal StimulusEstablished the Local Mask Production Subsidy Scheme to direct procurement and using technology to develop recyclable masks, along with set up mask production lines in Hong Konghttps://www.news.gov.hk/eng/2020/02/20200228/20200228_160013_539.html
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Hong Kong2/29/2020ActionHong Kong Agriculture, Fisheries & Conservation DepartmentFiscal StimulusWill provide subsidies to live marine fish wholesale traders under the Anti-Epidemic Fund, helping the fisheries industry to tackle financial difficulties arising from the COVID-19 outbreakhttps://www.news.gov.hk/eng/2020/02/20200229/20200229_212354_374.html?type=category&name=covid19&tl=t
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Hong Kong3/2/2020ActionHong Kong Housing AuthorityFiscal StimulusWill extend the 50% rent concession for its retail and factory tenants for six months from April 1 to September 30 to align with the Government's relief measureshttps://www.news.gov.hk/eng/2020/03/20200302/20200302_145151_088.html?type=category&name=covid19&tl=t
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Hong Kong3/3/2020ActionHong Kong Labor and Welfare BureauFiscal StimulusNew arrivals in Hong Kong who are not eligible for the $10,000 cash handout announced in the 2020-21 Budget may receive cash assistance from the Community Care Fundhttps://www.news.gov.hk/eng/2020/03/20200303/20200303_131728_937.html?type=category&name=covid19&tl=t
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Hong Kong3/4/2020ActionHong Kong Monetary AuthorityInterest Rate ChangeBase Rate adjusted downward by 50 basis points to 1.50%, follows the 50-basis point downward shift in the target range for the US federal funds rate on 3 March (US time)https://www.hkma.gov.hk/eng/news-and-media/press-releases/2020/03/20200304-3/
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Hong Kong3/4/2020ActionHong Kong Agriculture, Fisheries & Conservation DepartmentFiscal StimulusWill provide subsidies to owners of fishing vessels or fish collector vessels with Mainland deckhands under the Anti-epidemic Fund, helping the fisheries industry to tackle financial difficulties arising from the COVID-19 outbreakhttps://www.news.gov.hk/eng/2020/03/20200304/20200304_104853_534.html?type=category&name=covid19&tl=t
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Hong Kong3/4/2020ActionHong Kong Food & Environmental Hygiene DepartmentFiscal StimulusEstablished the Food Licence Holders Subsidy Scheme to provide financial subsidies to eight types of food business licence holders and the Licensed Hawkers Subsidy Scheme to offer a $5,000 subsidy to each eligible licensee of a hawker licence, which remains valid when the application is approved under the Anti-epidemic Fund https://www.news.gov.hk/eng/2020/03/20200304/20200304_174706_010.html?type=category&name=covid19&tl=t
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Hong Kong3/5/2020ActionHong Kong Arts Development CouncilFiscal StimulusChannelled HK$150 million from the Government’s Anti-epidemic Fund through Home Affairs Bureau to support the arts sector, of which HK$50 million is allocated to HKADC to strengthen its “Support Scheme for Arts & Cultural Sector”, increasing the total budget to HK$55 million to help relieve the financial burden of the arts sector during this difficult periodhttp://www.hkadc.org.hk/?p=29852
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Hong Kong3/16/2020ActionHong Kong Monetary AuthorityMacroprudential PolicyCountercyclical capital buffer (CCyB) for Hong Kong reduced from 2.0% to 1.0% https://www.hkma.gov.hk/eng/news-and-media/press-releases/2020/03/20200316-5/
334
Hong Kong3/16/2020ActionHong Kong Monetary AuthorityInterest Rate Change Base Rate was adjusted downward to 0.86%https://www.hkma.gov.hk/eng/news-and-media/press-releases/2020/03/20200316-3/
335
Hong Kong3/16/2020ActionHong Kong Trade Development CouncilFiscal StimulusLaunch the Retail Sector Subsidy Scheme under the Anti-epidemic Fund, where eligible retail store will receive a one-off subsidy of $80,000https://www.news.gov.hk/eng/2020/03/20200316/20200316_135728_249.html?type=category&name=covid19&tl=t
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Hong Kong3/16/2020ActionHong Kong Advisory Committee on Recycling FundFiscal StimulusLaunched the One-off Recycling Industry Anti-epidemic Scheme, which aims to help the recycling industry cope with the current economic situation and operational difficulties brought by the COVID-19 epidemic.https://www.news.gov.hk/eng/2020/03/20200316/20200316_173027_818.html?type=category&name=covid19&tl=t
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Hong Kong3/17/2020ActionHong Kong Advisory Committee on Recycling FundFiscal StimulusEstablished a one-off subsidy will be provided under the Anti-epidemic Fund to assist the transport trades in coping with operating pressures in the current economic environmenhttps://www.news.gov.hk/eng/2020/03/20200317/20200317_183228_296.html?type=category&name=covid19&tl=t
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Hong Kong3/20/2020ActionLegislative Council Finance ComitteeLoan GuaranteesApproved a concessionary low-interest loan guarantee commitment of $20 billion under the SME Financing Guarantee Scheme, the Government will provide a 100% guarantee for approved loans taken out by eligible enterpriseshttps://www.news.gov.hk/eng/2020/03/20200320/20200320_185846_777.html?type=category&name=covid19&tl=t
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Hong Kong3/23/2020ActionHong Kong Government, Hong Kong Airport AuthorityFiscal StimulusAnnounced a $1 billion package of relief measures for the aviation industry to help the industry tide over the sustained challenges due to the COVID-19 outbreakhttps://www.news.gov.hk/eng/2020/03/20200323/20200323_192341_078.html?type=category&name=covid19&tl=t
1132
Hong Kong3/27/2020ActionSecurities and Futures CommissionMacroprudential PolicyIn a circular to managers, trustees and custodians of SFC-authorized funds, the SFC reiterated their obligations to properly manage the liquidity of funds and ensure fair treatment of investors in light of the current market situation and a separate circular reminded intermediaries of their obligation to ensure suitability when they make a solicitation or recommendationhttps://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=20PR25
1325
Hong Kong4/1/2020ActionHong Kong Development BureauFiscal StimulusExtended support measures of the Anti-epidemic Fund to the construction industry, helping workers who are engaged in small-scale works outside construction sites, such as those involved in renovation, repair and maintenance and small and medium-sized enterprise (SME) consultantshttps://www.news.gov.hk/eng/2020/04/20200401/20200401_161709_829.html?type=category&name=covid19&tl=t
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Hong Kong4/3/2020ActionHong Kong Monetary AuthorityEmergency LiquidityIntroduced a series of measures aimed at increasing the banking sector’s liquidity so that banks will have ample liquidity to support local economic activities. These include obtaining US dollars through repo transactions with the U.S. Federal Reserve for lending to local banks, clarifying aspects of the HKMA’s Liquidity Facilities Framework to make it easier to use by banks, and further explaining HKMA’s supervisory expectations on liquidity regulatory requirementshttps://www.hkma.gov.hk/eng/news-and-media/press-releases/2020/04/20200403-4/#1
1424
Hong Kong4/3/2020ActionHong Kong Monetary AuthorityMacroprudential PolicyReduced the current level of regulatory reserves by half to release a total of HK$200 billion of lending capacityhttps://www.hkma.gov.hk/eng/news-and-media/press-releases/2020/04/20200403-4/#1
1425
Hong Kong4/3/2020ActionHong Kong Monetary AuthorityMacroprudential PolicyAsked banks to consider arrangements to automatically offer extensions of loan tenor or principal repayment holidays to qualified SMEs without requiring them to make an applicationhttps://www.hkma.gov.hk/eng/news-and-media/press-releases/2020/04/20200403-4/#1
1452
Hong Kong4/4/2020ActionInland Revenue DepartmentFiscal StimulusDeadlines for tax payments and lodgement of objections and holdover applications as well as submission of tax returns and information that fall between March 23 and May 2 have been automatically extended to May 4https://www.news.gov.hk/eng/2020/04/20200404/20200404_221020_187.html?type=category&name=covid19
1592
Hong Kong4/8/2020ActionHong Kong GovernmentFiscal StimulusEstablished the Employment Support Scheme (ESS), a $80 billion program that will provide wage subsidy to eligible employers to retain employees, support the unemployed, create jobs, and subsidize staff in various professions to learn new skills and help enterprises to apply technologyhttps://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf
1593
Hong Kong4/8/2020ActionHong Kong GovernmentFiscal StimulusProviding support to the public sector including one-off relief grant of $40,000 to private schools offering non-formal curriculum registered under the Education Ordinance (tutorial schools), a one-off relief grant to service providers and suppliers for schools and post-secondary education institutions, a one-off relief grant of $7,500 to registered coaches under National Sports Associations and Sports Organisations who has proven coaching record in the past year, a one-off relief grant of $7,500 to instructors of interests classes for organisations subvented by the Social Welfare Department, a one-off relief grant of $8,000 to private refuse collectors, and a one-off relief grant of $10,000 to local primary producershttps://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf
1594
Hong Kong4/8/2020ActionHong Kong GovernmentFiscal StimulusProviding a one-off relief grant to exchange participants and Securities and Futures Commission (SFC) licensed individuals, a subsidy of $50,000 to Category B and Category C exchange participants and a subsidy of $2,000 to SFC licensed individualshttps://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf
1595
Hong Kong4/8/2020ActionHong Kong GovernmentFiscal StimulusProviding a one-off cash subsidy to licensed individuals of the estate agency sector equal to the 24-month licence fee of the relevant licenceshttps://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf
1596
Hong Kong4/8/2020ActionHong Kong GovernmentFiscal StimulusProviding support to passenger transport sector including monthly subsidy of $6,000 for a period of 6 months and a one-off subsidy of $7,500 to eligible partly active taxi and RMB drivers, a one-off subsidy of $30,000 for the registered owners of taxis and RMBs, a one-off subsidy of $30,000 to the registered owners of non-franchised buses (NFB), school private light buses (SPLB) and hire cars, and reimburse 100% of the actual regular repair and maintenance costs and insurance premium for 6 months for the five franchised bus companies, nine franchised/licensed ferry operators and Hong Kong Tramways Limitedhttps://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf
1597
Hong Kong4/8/2020ActionHong Kong GovernmentFiscal StimulusProviding support to creative industries including a subsidy of $100,000 per screen to cinemas licensed as a place of public entertainment with commercial operation in March, a subsidy of $25 million for upkeeping historic sites (PMQ’s) operation and waiver of its tenants’ rental, and a subsidy covering all the participation fees of eligible participants in the next Hong Kong Book Fair https://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf
1598
Hong Kong4/8/2020ActionHong Kong GovernmentFiscal StimulusProviding support to the tourism industry including a subsidy ranging from $20,000 to $200,000 to licensed travel agents, a monthly subsidy of $5,000 for six months to travel agents’ staff and active freelance tourist guides and tour escorts holding a valid pass, a cash subsidy of 300,000/$400,000 to licensed hotels, a one-off subsidy of $10,000 to coach drivers who mainly provides transport services for tourists, waive the monthly fixed rent and management fees of the operator of Kai Tak Cruise Terminal for six months, and a subsidy to cruise lines by offering refund of berth deposits for cancelled ship calls during the suspension of immigration service when they schedule a prospective ship callhttps://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf
1599
Hong Kong4/8/2020ActionHong Kong GovernmentFiscal StimulusProviding support to the construction sector including a subsidy of $7,500 to eligible Registered Construction Workers, a subsidy of $20,000 to eligible contractors, specialist contractors and suppliers, and company members of major construction-related trade associations, and a subsidy of $10,000 to eligible Registered Minor Works Contractors, Registered Electrical Contractors, Registered Gas Contractors, Registered Lift / Escalator Contractors, Registered Contractors under Builders’ Lifts and Tower Working Platforms (Safety) Ordinance, Registered Fire Service Installation Contractors and eligible suppliers of construction-related machineries and equipment rentalshttps://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf
1600
Hong Kong4/8/2020ActionHong Kong GovernmentFiscal StimulusProviding a one-off subsidy of $3 million to the non-profit-making organisations (NPOs) running the projects under the Revitalising Historic Buildings Through Partnership Scheme, PMQ and the Fly the Flyover Operationhttps://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf
1601
Hong Kong4/8/2020ActionHong Kong GovernmentFiscal StimulusProviding support to the aviation sector including a one-off subsidy of $1 million per large aircraft registered in Hong Kong and $200,000 per small aircraft registered in Hong Kong and a one-off subsidy of up to $3 million (with 100 employees or above) / $1 million (with less than 100 employees) to Aviation support services and cargo facilities operatorshttps://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf
1602
Hong Kong4/8/2020ActionHong Kong GovernmentFiscal StimulusProviding support to the catering sector including a one-off subsidy ranging from $250,000 to $2.2 million to catering outlets based on the size of their premises, a further one-off subsidy of $50,000 to catering outlet directed by the Government to close its licensed premises, and a one-off subsidy of $50,000 to tenants of cooked food/light refreshment stalls at public markets managed by the Food and Environmental Hygiene Department (FEHD)https://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf
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Hong Kong4/8/2020ActionHong Kong GovernmentFiscal StimulusProviding support to sectors which are completely or partly closed due to the measures for safeguarding public health imposed by the Government including operator of amusement game centre: $100,000, holder of commercial bathhouse licence: $100,000, operator of fitness centre: $100,000, operator of place of amusement: $100,000, holder of a Place of Public Entertainment Licence (PPEL) (except cinema): $100,000, holder of Mahjong / Tin Kau Licence: $100,000, operator of club-house with a Certificate of Compliance (CoC): $100,000, beauty parlour operator: $30,000 to $100,000 depending on the size of the premises, operator of massage establishment: $30,000 to $100,000 depending on the size of the premises, and non-governmental operator of sports and recreational facilities on Government sites: $100,000https://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf
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Hong Kong4/8/2020ActionHong Kong GovernmentLoan GuaranteesEnhanced the SME Financing Guarantee Scheme including additional expenditure of around $11.69 billion and additional guarantee commitment of $30 billionhttps://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf
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Hong Kong4/8/2020ActionHong Kong GovernmentFiscal StimulusIncreasing and expanding rental fee concessions for government premiseshttps://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf
1606
Hong Kong4/8/2020ActionHong Kong GovernmentFiscal StimulusReduced the fares for mass transit railway (MTRCL) and temporarily relaxed the monthly public transport expense threshold of the Public Transportation Cost Subsidy Program (PTFSS)https://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf
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Hong Kong4/8/2020ActionHong Kong GovernmentFiscal StimulusGranting one-off interest-free deferral of loan repayment for two years to self-financing post-secondary institutions under the Start-up Loan Scheme, non-profit-making international schools and students receiving loans from the Working Family and Student Financial Assistance Agency (WFSFAA)https://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf
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Hong Kong4/8/2020ActionHong Kong GovernmentFiscal StimulusAutomatically extending the deadline for payment of tax for year 2018/2019 for three monthshttps://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf
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Hong Kong4/8/2020ActionAirport Authority Hong KongFiscal StimulusWill budget $2 billion to provide further relief measures for the aviation sectorhttps://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf
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Hong Kong4/8/2020ActionHong Kong GovernmentMacroprudential PolicyWill provide flexibility in handling of government works and non-works contracts as well as other development projectshttps://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf
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Hong Kong4/9/2020ActionHong Kong GovernmentCredit FacilitiesEnhanced the Dedicated Fund on Branding, Upgrading & Domestic Sales (BUD Fund) and the SME Export Marketing Fund (EMF) within April by removing the cumulative funding ceilings of $2 million in the BUD Fund for each enterprise to undertake projects in the Mainland or projects in the economies with which Hong Kong has signed Free Trade Agreements and credit limits of all buyers for SBP holders in HKECIC-insured markets will also be increased by 20% with a maximum of $5 million, plus a provision of an extra 20% discount on premiums for SBP holders so that each holder can enjoy a total 50% discount on premiumshttps://www.news.gov.hk/eng/2020/04/20200409/20200409_151000_775.html?type=category&name=covid19
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Hong Kong4/14/2020ActionHong Kong Home Affairs BureauFiscal StimulusExtended the Anti-epidemic Support Scheme for Property Management Sector to cover industrial and commercial buildingshttps://www.news.gov.hk/eng/2020/04/20200414/20200414_210542_060.html?type=category&name=covid19
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Hong Kong4/16/2020ActionHong Kong Advisory Committee on Recycling FundFiscal StimulusMaximum monthly rental subsidy for each recycler under the One-off Rental Support Scheme will be increased from $25,000 to $37,500https://www.news.gov.hk/eng/2020/04/20200416/20200416_111831_380.html?type=category&name=covid19
1896
Hong Kong4/17/2020ActionHong Kong Monetary AuthorityMacroprudential PolicyLaunched a Pre-approved Principal Payment Holiday Scheme for corporate customers that have an annual sales turnover of HK$800 million or less and that have no outstanding loan payments overdue for more than 30 days. Principal payments of loans (including revolving facilities) will generally be deferred by 6 months, whereas trade facilities, given their short-term nature, will be deferred by 3 monthshttps://www.hkma.gov.hk/eng/news-and-media/press-releases/2020/04/20200417-3/
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Hong Kong4/18/2020ActionHong Kong Monetary AuthorityLoan GuaranteesThe total guarantee commitment of the Special 100% Loan Guarantee under the SME Financing Guarantee Scheme (SFGS) is increased to HK$50 billion. The maximum loan amount per enterprise is increased to HK$4 million and the principal moratorium arrangement is extended to the first 12 monthshttps://www.hkma.gov.hk/eng/news-and-media/press-releases/2020/04/20200418-3/
1954
Hong Kong4/20/2020ProposalHong Kong Labor and Welfare BureauFiscal StimulusPlans to launch a pilot scheme in the second half of the year to encourage these people to undergo and complete on-the-job training under the Employment Programme for the Elderly & Middle-aged, the Youth Employment & Training Programme and the Work Orientation & Placement Scheme through the provision of a retention allowancehttps://www.news.gov.hk/eng/2020/04/20200420/20200420_175816_569.html?type=category&name=covid19
2045
Hong Kong4/22/2020ActionHong Kong Monetary AuthorityEmergency LiquidityAnnounced the introduction of a temporary US Dollar Liquidity Facility (the Facility) to make available US dollar liquidity assistance for licensed banks through funds obtained through the Federal Reserves’ FIMA Repo Facility. It’s intention is to maintain the Facility until 30 September 2020https://www.hkma.gov.hk/eng/news-and-media/press-releases/2020/04/20200422-4/
2046
Hong Kong4/22/2020ActionHong Kong GovernmentFiscal StimulusProviding a one-off extra allowance for recipients of the Individual-based Work Incentive Transport Subsidy (I-WITS) https://www.news.gov.hk/eng/2020/04/20200422/20200422_162009_249.html?type=category&name=covid19
2134
Hong Kong4/24/2020ActionHong Kong GovernmentMacroprudential PolicyAllowing banks and financial institutions taking part in providing mortgage loans for the Housing Authority Subsidised Sale Flats Scheme (SSFS) to offer a mortgage principal moratorium plan to the scheme’s mortgagors for a maximum 12-month period and the mortgage loan repayment period may be extended correspondingly by a maximum of 12 monthshttps://www.news.gov.hk/eng/2020/04/20200424/20200424_191359_424.html?type=category&name=covid19
2135
Hong Kong4/24/2020ActionHong Kong Monetary AuthorityMacroprudential PolicyGazetted Banking (Capital) (Amendment) Rules 2020 (BCAR 2020) to align with Basel III and implements two sets of capital standards for the treatment of banks' counterparty credit risk exposures to derivatives tradeshttps://www.info.gov.hk/gia/general/202004/24/P2020042400215.htm?fontSize=1
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Hong Kong4/28/2020ActionTransport DepartmentFiscal StimulusProviding $1.3 billion in subsidies earmarked for registered owners of goods vehicles and green minibus operators under the Anti-epidemic Fundhttps://www.news.gov.hk/eng/2020/04/20200428/20200428_180607_837.html?type=category&name=covid19
2294
Hong Kong4/30/2020ActionHong Kong Arts Development CouncilFiscal StimulusDecided that the Support Scheme for Arts & Cultural Sector will extend its coverage period by two additional months, with the original period of 29 January to 30 April 2020 extended to 30 June 2020. In addition, HKADC will expand the scope of subsidy recipients under Category D to support individual arts practitioners who participate in school performance tours and were affected by the epidemic from 19 January to 30 June 2020. http://www.hkadc.org.hk/?p=30089&lang=en
2385
Hong Kong5/4/2020ActionHong Kong GovernmentFiscal StimulusProvided allowances to eligible cleansing and security workers engaged by service contractors of the Government and Housing Authority. Front-line cleansing workers, toilet attendants and security workers employed by the service contractors can receive a monthly allowance of $1,000 for a period of no fewer than four months throughout the epidemic period.https://www.news.gov.hk/eng/2020/05/20200504/20200504_172625_877.html?type=category&name=covid19
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Hong Kong5/4/2020ActionSocial Welfare DepartmentFiscal StimulusLaunched a subsidy scheme to support all the some 1,000 residential care homes for the elderly and people with disabilities to give their premises an anti-virus coating spray. The Anti-virus Coating Spray Subsidy was approved by the Anti-epidemic Fund Steering Committee on April 20, with the total subsidy amounting to $80 millionhttps://www.news.gov.hk/eng/2020/05/20200504/20200504_151737_153.html?type=category&name=covid19
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Hong Kong5/5/2020ActionOffice of the Communications AuthorityFiscal StimulusAnnounced the launch of the Subsidy Scheme for Encouraging Early Deployment of the fifth generation (5G) mobile technology. Launched under the second round of the Anti-epidemic Fund, the scheme is open for applications until November 30 on a first come, first served basis. The scheme will subsidize 50% of the actual cost directly relevant to the deployment of 5G technology in an approved project, subject to a cap of $500,000https://www.news.gov.hk/eng/2020/05/20200505/20200505_123219_142.html?type=category&name=covid19
2639
Hong Kong5/12/2020ActionEnvironmental Protection DepartmentFiscal StimulusLaunched the the Anti-epidemic Subsidy Scheme for the Laundry Trade under the Anti-epidemic Fund (AEF) to help the laundry trade cope with the challenges brought about by the current economic situation. A sum of about $90 million has been earmarked under the AEF for the Scheme to provide a one-off subsidy to help the laundry and/or dry cleaning services industry meet their operational costs. The Scheme is expected to benefit about 1 400 laundry shops and workshophttps://www.info.gov.hk/gia/general/202005/29/P2020052900219.htm?fontSize=1
3147
Hong Kong5/27/2020ActionHong Kong GovernmentFiscal StimulusImplemented Salaries Tax & Profits Tax (Anti-epidemic Fund) Order that provides tax exemption from the year of assessment 2019-20 to most of the financial assistance or relief under the Anti-epidemic Fund provided to businesses or individualshttps://www.news.gov.hk/eng/2020/05/20200527/20200527_162400_939.html?type=category&name=covid19
3207
Hong Kong5/29/2020ActionHong Kong Monetary AuthorityLoan GuaranteesAnnounced enhancements to the SME Financing Guarantee Scheme including raising the maximum loan amount of the 80% and 90% Guarantee Products and extending the eligibility coverage to listed companies in Hong Kong, and will last for 12 months. In addition, both the existing guaranteed loans and new applications are eligible for an interest subsidy for a maximum period of 12 months, the payments of which will start to be made by the end of June this year.https://www.hkma.gov.hk/eng/news-and-media/press-releases/2020/05/20200529-8/
3233
Hong Kong5/30/2020ActionHong Kong Home Affairs BureauFiscal StimulusExtended the Anti-epidemic Support Scheme for Property Management Sector for three months, from June to August 2020. Meanwhile, the caps on headcounts of the Anti-epidemic Hardship Allowance per eligible building block will be relaxed to 100. An extra subsidy of $2,000 will be granted to each eligible private residential or composite building block, while the amount of extra subsidy for each eligible industrial or commercial building block will be doubledhttps://www.news.gov.hk/eng/2020/05/20200530/20200530_192046_783.html?type=category&name=covid19
3286
Hong Kong6/2/2020ActionHong Kong Labor and Welfare BureauFiscal StimulusAnnounced that the Subsidy Scheme for Employment Agencies (EAs) will be introduced under the Anti-epidemic Fund to assist them in tiding over the difficulties arising from the COVID-19 epidemic. A subsidy of $50,000 will be granted for each main licence of an EA which provides foreign domestic helper placement services. For EAs which do not provide such placement services, a subsidy of $30,000 will be granted for each main licence. An additional $10,000 will be granted for each duplicate licence for a branch office of both kinds of EAs. The scheme will open for application in the second half of June. All EAs holding valid licences or that have submitted an application for licence renewal in accordance with the Employment Agency Regulations as of May 31 will be eligible.https://www.news.gov.hk/eng/2020/06/20200602/20200602_205003_920.html?type=category&name=covid19
3287
Hong Kong6/2/2020ActionLeisure ＆ Cultural Services DepartmentFiscal StimulusProviding ex-gratia payment to personnel affected by the cancellation of programmes to relieve the impact of the pandemic. The payment is being made to those engaged in recreation and sports programmes organised or subvented by the department, including coaches and instructors. It is being offered to those directly engaged by the department or sports coaches and staff hired by national sports associations or sports organisations subvented under the Sports Subvention Scheme. The payment is also being offered to sports coaches from national sports associations or sports organisations who were engaged by the department through the Direct Purchase Authority Management System. The ex-gratia payment is equivalent to the amount of their original remuneration for cancelled programmes scheduled to commence or to be held from January 29 to March 31.https://www.news.gov.hk/eng/2020/06/20200602/20200602_192347_962.html?type=category&name=covid19
3391
Hong Kong6/5/2020ActionWorking Family & Student Financial Assistance AgencyFiscal StimulusDisbursing a one-off special allowance under the Anti-epidemic Fund to Working Family Allowance (WFA) and Student Financial Assistance (SFA) households from June 9. Each WFA and SFA household will receive a one-off special allowance, regardless of whether these low-income households are unemployed or underemployed. For WFA households, a household which has submitted an application eventually approved from April 1, 2019, to February 21, 2020 will receive a special allowance equivalent to two months' WFA payment based on the highest monthly amount it received in its most recently submitted and approved application during the above period. Households receiving means-tested SFA for pre-primary, primary and secondary students in the 2019-20 academic year will receive a special allowance of $4,640. For households eligible for the special allowance under both the WFA and the SFA, the amount payable will be the higher amount of the above two cases. The agency estimates that 58,000 WFA households and 145,000 SFA households will benefit from the special allowancehttps://www.news.gov.hk/eng/2020/06/20200605/20200605_115744_600.html?type=category&name=covid19
3424
Hong Kong6/8/2020ActionHong Kong GovernmentFiscal StimulusAnnounced that more support will be provided for the travel industry by enhancing the Green Lifestyle Local Tour Incentive Scheme and extending the subsidy initiative for tourist guides. It has decided to increase the commitment for this scheme from the original $50 million to $100 million, and extend the subsidy initiative for six months until April 27, 2021, which will benefit more than 5,000 tourist guideshttps://www.news.gov.hk/eng/2020/06/20200608/20200608_192340_279.html?type=category&name=covid19
3425
Hong Kong6/8/2020ActionHong Kong Export Credit Insurance CorporationLoan GuaranteesAnnounced the launch of a 100% Credit Limit Top-Up Scheme. Under the scheme, the corporation will increase the buyers’ credit limits of its policyholders by 100%, subject to a cap of $100 millionhttps://www.news.gov.hk/eng/2020/06/20200608/20200608_142232_737.html?type=category&name=covid19
3459
Hong Kong6/9/2020ActionHong Kong GovernmentCredit FacilitiesWill invest in Cathay Pacific Airways through the Land Fund, it will provide about $27.3 billion, comprising preference shares with detachable warrants of around $19.5 billion and a bridging loan of about $7.8 billion.https://www.news.gov.hk/eng/2020/06/20200609/20200609_161908_002.html?type=category&name=covid19
3524
Hong Kong6/11/2020ActionHong Kong Development BureauFiscal StimulusWill offer a one-off subsidy to employers in the construction sector who have employed casual employees on a long-term basis. An employer may apply for a subsidy of $36,000 per qualified employee.https://www.news.gov.hk/eng/2020/06/20200611/20200611_155130_964.html?type=category&name=covid19
3525
Hong Kong6/11/2020ActionHong Kong Development BureauFiscal StimulusWill provide salary subsidies to employers who hire graduates and assistant professionals of the engineering, architectural, surveying, town planning and landscape sectors. The first group is applicable to university students studying architecture, surveying, town planning and landscape architecture, and are graduating this year. Employers will receive a salary subsidy of $5,610 per month for providing recognised professional training to each employed graduate. The second group is applicable to assistant engineers who complete the training within this year but still need to obtain practical work experience. It is also applicable to assistant professionals who complete the training within this year and satisfy admission criteria of the professional assessments in the relevant sectors. Employers will receive a salary subsidy of $10,000 per month for providing opportunities for recognised professional practice to each assistant professional employed. https://www.news.gov.hk/eng/2020/06/20200611/20200611_171036_343.html?type=category&name=covid19
3558
Hong Kong6/12/2020ActionHong Kong Education BureauFiscal StimulusExtended the application deadline for the Student Grant of $3,500 for secondary day school, primary school and kindergarten students in the 2019-20 school year to June 30.https://www.news.gov.hk/eng/2020/06/20200612/20200612_154511_926.html?type=category&name=covid19
3631
Hong Kong6/16/2020ActionHong Kong GovernmentFiscal StimulusAnnounced that the monthly $1,000 allowance under the Anti-epidemic Fund for outsourced cleaning and security workers of the Government and the Housing Authority will be provided for a further three monthshttps://www.news.gov.hk/eng/2020/06/20200616/20200616_182733_890.html?type=category&name=covid19
3664
Hong Kong6/17/2020ActionHong Kong GovernmentFiscal StimulusAnnounced that about HKD 24 million has been earmarked under the Anti-epidemic Fund for the Green Employment Scheme, providing employers of fresh graduates with a monthly subsidy of HKD 5,610. The subsidy will form part of the monthly salary of each fresh graduate paid by their employers for a period of 18 months. The subsidy programme will be implemented from 2020-21, covering more than 200 jobs.https://www.news.gov.hk/eng/2020/06/20200617/20200617_110605_836.html?type=category&name=covid19
3665
Hong Kong6/17/2020ActionHong Kong GovernmentFiscal StimulusAnnounced that the taxi or red minibus driver subsidy under the second round of the Anti-epidemic Fund will be open for applications until September 30, the Transport Department announced today. Under the fund, the Government provides a monthly subsidy of HKD 6,000 for each eligible active taxi or red minibus driver for six months, from April 1 to September 30.https://www.news.gov.hk/eng/2020/06/20200617/20200617_102636_645.html?type=category&name=covid19
3700
Hong Kong6/18/2020ActionHong Kong GovernmentFiscal StimulusDoubled the cash incentives for travel agents organising tours under the Green Lifestyle Local Tour Incentive Scheme to foster local economic revival and relaunch the tourism industry. The cash incentive amount per tour participant served by a travel agent will double to HKD200 while the quota of tour participants for each travel agent to apply for the cash incentives will double to 1,000. The enhancement measures will be effective from 19 June 2020.https://www.news.gov.hk/eng/2020/06/20200618/20200618_113707_554.html?type=category&name=covid19
3738
Hong Kong6/19/2020ActionHong Kong GovernmentFiscal StimulusAnnounced an additional subsidy of HKD 80,000 from the HKD 150 million Arts & Culture Sector Subsidy Scheme (under the Anti-epidemic Fund) will be disbursed to 44 Arts Development Council-funded arts groups, 14 venue partners under the LCSD and 34 Arts Capacity Development Funding Scheme grantees.https://www.news.gov.hk/eng/2020/06/20200619/20200619_171512_384.html?type=category&name=covid19
3739
Hong Kong6/19/2020ActionHong Kong GovernmentFiscal StimulusAnnounced the offering of more than 700 time-limited jobs in Executive Service Assistant (ESA) and Support Service Assistant (SSA) positions to increase employment opportunities.https://www.news.gov.hk/eng/2020/06/20200619/20200619_152415_632.html?type=category&name=covid19
3740
Hong Kong6/19/2020ActionHong Kong GovernmentFiscal StimulusAnnounced that the Subsidy Scheme for Employment Agencies will be open for applications from June 22 to July 21, granting an HKD 50,000 subsidy for each main licence of employment agencies that provide a foreign domestic helper (FDH) placement service. Subsidies will be drawn down from the Anti-epidemic Fund.https://www.news.gov.hk/eng/2020/06/20200619/20200619_111004_191.html?type=category&name=covid19
3768
Hong Kong6/22/2020ActionHong Kong GovernmentFiscal StimulusAnnounced that the Anti-epidemic Fund will cover vehicle maintenance workshops by granting a one-off non-accountable subsidy of $50,000 to each eligible workshop.https://www.news.gov.hk/eng/2020/06/20200622/20200622_190941_121.html?type=category&name=covid19
3820
Hong Kong6/24/2020ActionHong Kong GovernmentFiscal StimulusAnnounced that an additional HKD 20,000 subsidy will be provided to kaito operators for each vessel deployed in kaito services, involving about HKD 1.8 million. Kaito operators who are owners of local commercial mechanised vessels have also been entitled to a one‑off non‑accountable subsidy of HKD 10,000, a vessel licence fee waiver for one year and a one‑off survey fee subsidy.https://www.news.gov.hk/eng/2020/06/20200624/20200624_150637_085.html?type=category&name=covid19
3821
Hong Kong6/24/2020ActionHong Kong GovernmentFiscal StimulusAnnounced that Dishware Washing Trade Subsidy Scheme under the Anti-epidemic Fund opened today, and that each eligible dishware washing operator in operation will be provided with a one-off subsidy of HKD 80,000 or HKD 150,000 according to its average monthly water consumption.https://www.news.gov.hk/eng/2020/06/20200624/20200624_124501_809.html?type=category&name=covid19
3893
Hong Kong6/26/2020ActionHong Kong GovernmentFiscal StimulusAnnounced an additional provision of HKD 1 billion under the Anti-epidemic Fund for the Distance Business Programme. The programme, which opened for applications on May 18, supports enterprises to adopt information technology solutions to continue business and services during the epidemic.https://www.news.gov.hk/eng/2020/06/20200626/20200626_144440_704.html?type=category&name=covid19
3940
Hong Kong6/30/2020ActionHong Kong GovernmentFiscal StimulusAnnounced that the previous flexibility arrangement to assist foreign domestic helpers (FDH) and their employers will be extended with immediate effect. The flexibility arrangement will assist employers whose contracts with their existing FDHs are about to expire but are in the situation where newly hired helpers cannot fly in to commence the new contract.https://www.news.gov.hk/eng/2020/06/20200630/20200630_112008_043.html?type=category&name=covid19
3970
Hong Kong7/1/2020ActionHong Kong GovernmentFiscal StimulusAnnounced that the FinTech Anti-epidemic Scheme for Talent Development (FAST Scheme) under the second round of the Anti-epidemic Fund will be launched on July 2. The Government has earmarked $6 billion under the Anti-epidemic Fund to create around 30,000 time-limited jobs in both public and private sectors in the coming two years for people of different skill sets and academic qualifications.https://www.news.gov.hk/eng/2020/07/20200701/20200701_103654_754.html?type=category&name=covid19
4054
Hong Kong7/8/2020ActionHong Kong GovernmentFiscal StimulusIncreased the rental concessions for eligible tenants from 50% to 75% through September and extended the measure’s scope to cover more businesses. Businesses that have had to completely cease operation due to anti-epidemic measures imposed by the Government will also receive a full rental waiver during the closure period.https://www.news.gov.hk/eng/2020/07/20200708/20200708_182259_512.html?type=category&name=covid19
4055
Hong Kong7/8/2020ActionHong Kong GovernmentFiscal StimulusCommitted HKD 1.02 billion to the launch of the Convention & Exhibition Industry Subsidy Scheme under the Anti-epidemic Fund. The first part of the scheme subsidizes 50% of the participation fees for exhibitors of exhibitions organised by the Hong Kong Trade Development Council, with a cap of HKD 10,000 per standard booth and 10 booths per exhibitor each time.https://www.news.gov.hk/eng/2020/07/20200708/20200708_102820_957.html?type=category&name=covid19
4079
Hong Kong7/10/2020ActionHong Kong GovernmentFiscal StimulusLaunched a subsidy scheme to provide relief to gold and silver traders affected by the COVID-19 pandemic which is open for applications until July 31. Under the Anti-epidemic Fund, the Subsidy Scheme for Precious Metals Trading Industry will grant a HKD 20,000 cash subsidy to each eligible Chinese Gold & Silver Exchange (CGSE) member and HKD 1,200 to each eligible practitioner registered with the exchange.https://www.news.gov.hk/eng/2020/07/20200710/20200710_183210_154.html?type=category&name=covid19
4080
Hong Kong7/10/2020ActionHong Kong GovernmentFiscal StimulusAnnounced an additional HKD 6,000 ex-gratia payment under the Anti-epidemic Fund to public rental housing applicants who have accepted advance allocation offers for Fai Ming Estate in Fanling and Chun Yeung Estate in Fo Tan.https://www.news.gov.hk/eng/2020/07/20200710/20200710_171954_233.html?type=category&name=covid19
4117
Hong Kong7/15/2020ActionHong Kong GovernmentFiscal StimulusAnnounced that the subsidy scheme for vehicle maintenance workshops under the Anti-epidemic Fund will open for applications from July 16. A one-off accountable subsidy of HKD 50,000 will be granted to each eligible workshop to assist them in coping with the pressures of the COVID-19 epidemic.https://www.news.gov.hk/eng/2020/07/20200715/20200715_211547_726.html?type=category&name=covid19
4134
Hong Kong7/16/2020ActionHong Kong GovernmentFiscal StimulusExtended to July 31 the application deadline for the Scheme on Relief Grants for Interest Class Instructors Hired by Organisations Subvented by the Social Welfare Department. As one of the measures under the second round of the Anti-epidemic Fund, the scheme aims to provide relief grants to interest class instructors hired by subvented welfare service units of Social Welfare Department-subvented organisations where the units' services have been suspended and the instructors' income affected due to the COVID-19 epidemic.https://www.news.gov.hk/eng/2020/07/20200716/20200716_143514_140.html?type=category&name=covid19
4275
Hong Kong7/28/2020ActionHong Kong GovernmentFiscal StimulusAnnounced a two-month rent waiver for public rental housing (PRH) tenants along with a 9.66% rent increase that will take effect September 1.https://www.news.gov.hk/eng/2020/07/20200728/20200728_174801_237.html?type=category&name=covid19
4375
Hong Kong8/5/2020ActionHong Kong Monetary AuthorityMacroprudential PolicyAnnounced a 90-day repayment deferment for trade facilities under the Pre-approved Principal Payment Holiday Scheme (Scheme). The HKMA has written to all authorized institutions (AIs) requesting them to implement the new arrangement.https://www.hkma.gov.hk/eng/news-and-media/press-releases/2020/08/20200805-4/