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1 | 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 | ||||||
2 | Blue=Official actions | Green=Official proposals | Yellow=Other experts | Link to the Tracker Visualization | ||||||
3 | Country(ies) | Date (MM/DD/YYYY) | Action or Proposal | Name and/or Organization | Policy Action Type | Policy Action Details | Action Link | |||
41 | Hong Kong | 2/14/2020 | Action | Hong Kong Government | Fiscal Stimulus | Announced the establishment of a $25 billion (later increased to $30 billion) Anti-Epidemic fund to help local residents and businesses tide over the coronavirus situation | https://www.news.gov.hk/eng/2020/02/20200214/20200214_193137_172.html?type=category&name=covid19&tl=t | |||
54 | Hong Kong | 2/20/2020 | Action | Hong Kong Education Bureau | Fiscal Stimulus | Announced 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 suspension | https://www.news.gov.hk/eng/2020/02/20200220/20200220_114326_464.html?type=category&name=covid19&tl=t | |||
55 | Hong Kong | 2/20/2020 | Action | Hong Kong Home Affairs Bureau | Fiscal Stimulus | Established 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 block | https://www.news.gov.hk/eng/2020/02/20200220/20200220_213509_930.html?type=category&name=covid19&tl=t | |||
60 | Hong Kong | 2/24/2020 | Action | Hong Kong Home Affairs Bureau | Fiscal Stimulus | Creation 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 guestrooms | https://www.news.gov.hk/eng/2020/02/20200224/20200224_173329_360.html?type=category&name=covid19&tl=t | |||
70 | Hong Kong | 2/26/2020 | Action | Hong Kong Monetary Authority | Loan 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/ | |||
71 | Hong Kong | 2/26/2020 | Action | Hong Kong Ministry of Finance | Fiscal Stimulus | Announced the Cash Payout Scheme, a HK$10,000 cash handout for all permanent residents over the age of 18 | https://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 | |||
72 | Hong Kong | 2/26/2020 | Action | Hong Kong Ministry of Finance | Fiscal Stimulus | Announced 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 billion | https://www.budget.gov.hk/2020/eng/nt.html | |||
73 | Hong Kong | 2/26/2020 | Action | Hong Kong Monetary Authority | Credit Facilities | Announced 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 run | https://www.hkma.gov.hk/eng/news-and-media/press-releases/2020/02/20200226-4/ | |||
91 | Hong Kong | 2/28/2020 | Action | Hong Kong Ministry of Finance | Fiscal Stimulus | Established 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 Kong | https://www.news.gov.hk/eng/2020/02/20200228/20200228_160013_539.html | |||
93 | Hong Kong | 2/29/2020 | Action | Hong Kong Agriculture, Fisheries & Conservation Department | Fiscal Stimulus | Will 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 outbreak | https://www.news.gov.hk/eng/2020/02/20200229/20200229_212354_374.html?type=category&name=covid19&tl=t | |||
98 | Hong Kong | 3/2/2020 | Action | Hong Kong Housing Authority | Fiscal Stimulus | Will 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 measures | https://www.news.gov.hk/eng/2020/03/20200302/20200302_145151_088.html?type=category&name=covid19&tl=t | |||
105 | Hong Kong | 3/3/2020 | Action | Hong Kong Labor and Welfare Bureau | Fiscal Stimulus | New 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 Fund | https://www.news.gov.hk/eng/2020/03/20200303/20200303_131728_937.html?type=category&name=covid19&tl=t | |||
110 | Hong Kong | 3/4/2020 | Action | Hong Kong Monetary Authority | Interest Rate Change | Base 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/ | |||
111 | Hong Kong | 3/4/2020 | Action | Hong Kong Agriculture, Fisheries & Conservation Department | Fiscal Stimulus | Will 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 outbreak | https://www.news.gov.hk/eng/2020/03/20200304/20200304_104853_534.html?type=category&name=covid19&tl=t | |||
112 | Hong Kong | 3/4/2020 | Action | Hong Kong Food & Environmental Hygiene Department | Fiscal Stimulus | Established 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 | |||
116 | Hong Kong | 3/5/2020 | Action | Hong Kong Arts Development Council | Fiscal Stimulus | Channelled 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 period | http://www.hkadc.org.hk/?p=29852 | |||
333 | Hong Kong | 3/16/2020 | Action | Hong Kong Monetary Authority | Macroprudential Policy | Countercyclical 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 Kong | 3/16/2020 | Action | Hong Kong Monetary Authority | Interest 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 Kong | 3/16/2020 | Action | Hong Kong Trade Development Council | Fiscal Stimulus | Launch the Retail Sector Subsidy Scheme under the Anti-epidemic Fund, where eligible retail store will receive a one-off subsidy of $80,000 | https://www.news.gov.hk/eng/2020/03/20200316/20200316_135728_249.html?type=category&name=covid19&tl=t | |||
336 | Hong Kong | 3/16/2020 | Action | Hong Kong Advisory Committee on Recycling Fund | Fiscal Stimulus | Launched 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 | |||
413 | Hong Kong | 3/17/2020 | Action | Hong Kong Advisory Committee on Recycling Fund | Fiscal Stimulus | Established 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 environmen | https://www.news.gov.hk/eng/2020/03/20200317/20200317_183228_296.html?type=category&name=covid19&tl=t | |||
697 | Hong Kong | 3/20/2020 | Action | Legislative Council Finance Comittee | Loan Guarantees | Approved 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 enterprises | https://www.news.gov.hk/eng/2020/03/20200320/20200320_185846_777.html?type=category&name=covid19&tl=t | |||
792 | Hong Kong | 3/23/2020 | Action | Hong Kong Government, Hong Kong Airport Authority | Fiscal Stimulus | Announced 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 outbreak | https://www.news.gov.hk/eng/2020/03/20200323/20200323_192341_078.html?type=category&name=covid19&tl=t | |||
1132 | Hong Kong | 3/27/2020 | Action | Securities and Futures Commission | Macroprudential Policy | In 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 recommendation | https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=20PR25 | |||
1325 | Hong Kong | 4/1/2020 | Action | Hong Kong Development Bureau | Fiscal Stimulus | Extended 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) consultants | https://www.news.gov.hk/eng/2020/04/20200401/20200401_161709_829.html?type=category&name=covid19&tl=t | |||
1423 | Hong Kong | 4/3/2020 | Action | Hong Kong Monetary Authority | Emergency Liquidity | Introduced 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 requirements | https://www.hkma.gov.hk/eng/news-and-media/press-releases/2020/04/20200403-4/#1 | |||
1424 | Hong Kong | 4/3/2020 | Action | Hong Kong Monetary Authority | Macroprudential Policy | Reduced the current level of regulatory reserves by half to release a total of HK$200 billion of lending capacity | https://www.hkma.gov.hk/eng/news-and-media/press-releases/2020/04/20200403-4/#1 | |||
1425 | Hong Kong | 4/3/2020 | Action | Hong Kong Monetary Authority | Macroprudential Policy | Asked banks to consider arrangements to automatically offer extensions of loan tenor or principal repayment holidays to qualified SMEs without requiring them to make an application | https://www.hkma.gov.hk/eng/news-and-media/press-releases/2020/04/20200403-4/#1 | |||
1452 | Hong Kong | 4/4/2020 | Action | Inland Revenue Department | Fiscal Stimulus | Deadlines 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 4 | https://www.news.gov.hk/eng/2020/04/20200404/20200404_221020_187.html?type=category&name=covid19 | |||
1592 | Hong Kong | 4/8/2020 | Action | Hong Kong Government | Fiscal Stimulus | Established 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 technology | https://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf | |||
1593 | Hong Kong | 4/8/2020 | Action | Hong Kong Government | Fiscal Stimulus | Providing 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 producers | https://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf | |||
1594 | Hong Kong | 4/8/2020 | Action | Hong Kong Government | Fiscal Stimulus | Providing 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 individuals | https://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf | |||
1595 | Hong Kong | 4/8/2020 | Action | Hong Kong Government | Fiscal Stimulus | Providing a one-off cash subsidy to licensed individuals of the estate agency sector equal to the 24-month licence fee of the relevant licences | https://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf | |||
1596 | Hong Kong | 4/8/2020 | Action | Hong Kong Government | Fiscal Stimulus | Providing 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 Limited | https://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf | |||
1597 | Hong Kong | 4/8/2020 | Action | Hong Kong Government | Fiscal Stimulus | Providing 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 Kong | 4/8/2020 | Action | Hong Kong Government | Fiscal Stimulus | Providing 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 call | https://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf | |||
1599 | Hong Kong | 4/8/2020 | Action | Hong Kong Government | Fiscal Stimulus | Providing 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 rentals | https://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf | |||
1600 | Hong Kong | 4/8/2020 | Action | Hong Kong Government | Fiscal Stimulus | Providing 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 Operation | https://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf | |||
1601 | Hong Kong | 4/8/2020 | Action | Hong Kong Government | Fiscal Stimulus | Providing 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 operators | https://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf | |||
1602 | Hong Kong | 4/8/2020 | Action | Hong Kong Government | Fiscal Stimulus | Providing 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 | |||
1603 | Hong Kong | 4/8/2020 | Action | Hong Kong Government | Fiscal Stimulus | Providing 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: $100,000 | https://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf | |||
1604 | Hong Kong | 4/8/2020 | Action | Hong Kong Government | Loan Guarantees | Enhanced the SME Financing Guarantee Scheme including additional expenditure of around $11.69 billion and additional guarantee commitment of $30 billion | https://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf | |||
1605 | Hong Kong | 4/8/2020 | Action | Hong Kong Government | Fiscal Stimulus | Increasing and expanding rental fee concessions for government premises | https://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf | |||
1606 | Hong Kong | 4/8/2020 | Action | Hong Kong Government | Fiscal Stimulus | Reduced 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 | |||
1607 | Hong Kong | 4/8/2020 | Action | Hong Kong Government | Fiscal Stimulus | Granting 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 | |||
1608 | Hong Kong | 4/8/2020 | Action | Hong Kong Government | Fiscal Stimulus | Automatically extending the deadline for payment of tax for year 2018/2019 for three months | https://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf | |||
1609 | Hong Kong | 4/8/2020 | Action | Airport Authority Hong Kong | Fiscal Stimulus | Will budget $2 billion to provide further relief measures for the aviation sector | https://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf | |||
1610 | Hong Kong | 4/8/2020 | Action | Hong Kong Government | Macroprudential Policy | Will provide flexibility in handling of government works and non-works contracts as well as other development projects | https://gia.info.gov.hk/general/202004/08/P2020040800810_339425_1_1586360416762.pdf | |||
1659 | Hong Kong | 4/9/2020 | Action | Hong Kong Government | Credit Facilities | Enhanced 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 premiums | https://www.news.gov.hk/eng/2020/04/20200409/20200409_151000_775.html?type=category&name=covid19 | |||
1751 | Hong Kong | 4/14/2020 | Action | Hong Kong Home Affairs Bureau | Fiscal Stimulus | Extended the Anti-epidemic Support Scheme for Property Management Sector to cover industrial and commercial buildings | https://www.news.gov.hk/eng/2020/04/20200414/20200414_210542_060.html?type=category&name=covid19 | |||
1831 | Hong Kong | 4/16/2020 | Action | Hong Kong Advisory Committee on Recycling Fund | Fiscal Stimulus | Maximum monthly rental subsidy for each recycler under the One-off Rental Support Scheme will be increased from $25,000 to $37,500 | https://www.news.gov.hk/eng/2020/04/20200416/20200416_111831_380.html?type=category&name=covid19 | |||
1896 | Hong Kong | 4/17/2020 | Action | Hong Kong Monetary Authority | Macroprudential Policy | Launched 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 months | https://www.hkma.gov.hk/eng/news-and-media/press-releases/2020/04/20200417-3/ | |||
1912 | Hong Kong | 4/18/2020 | Action | Hong Kong Monetary Authority | Loan Guarantees | The 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 months | https://www.hkma.gov.hk/eng/news-and-media/press-releases/2020/04/20200418-3/ | |||
1954 | Hong Kong | 4/20/2020 | Proposal | Hong Kong Labor and Welfare Bureau | Fiscal Stimulus | Plans 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 allowance | https://www.news.gov.hk/eng/2020/04/20200420/20200420_175816_569.html?type=category&name=covid19 | |||
2045 | Hong Kong | 4/22/2020 | Action | Hong Kong Monetary Authority | Emergency Liquidity | Announced 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 2020 | https://www.hkma.gov.hk/eng/news-and-media/press-releases/2020/04/20200422-4/ | |||
2046 | Hong Kong | 4/22/2020 | Action | Hong Kong Government | Fiscal Stimulus | Providing 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 Kong | 4/24/2020 | Action | Hong Kong Government | Macroprudential Policy | Allowing 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 months | https://www.news.gov.hk/eng/2020/04/20200424/20200424_191359_424.html?type=category&name=covid19 | |||
2135 | Hong Kong | 4/24/2020 | Action | Hong Kong Monetary Authority | Macroprudential Policy | Gazetted 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 trades | https://www.info.gov.hk/gia/general/202004/24/P2020042400215.htm?fontSize=1 | |||
2224 | Hong Kong | 4/28/2020 | Action | Transport Department | Fiscal Stimulus | Providing $1.3 billion in subsidies earmarked for registered owners of goods vehicles and green minibus operators under the Anti-epidemic Fund | https://www.news.gov.hk/eng/2020/04/20200428/20200428_180607_837.html?type=category&name=covid19 | |||
2294 | Hong Kong | 4/30/2020 | Action | Hong Kong Arts Development Council | Fiscal Stimulus | Decided 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 Kong | 5/4/2020 | Action | Hong Kong Government | Fiscal Stimulus | Provided 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 | |||
2386 | Hong Kong | 5/4/2020 | Action | Social Welfare Department | Fiscal Stimulus | Launched 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 million | https://www.news.gov.hk/eng/2020/05/20200504/20200504_151737_153.html?type=category&name=covid19 | |||
2419 | Hong Kong | 5/5/2020 | Action | Office of the Communications Authority | Fiscal Stimulus | Announced 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 $500,000 | https://www.news.gov.hk/eng/2020/05/20200505/20200505_123219_142.html?type=category&name=covid19 | |||
2639 | Hong Kong | 5/12/2020 | Action | Environmental Protection Department | Fiscal Stimulus | Launched 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 workshop | https://www.info.gov.hk/gia/general/202005/29/P2020052900219.htm?fontSize=1 | |||
3147 | Hong Kong | 5/27/2020 | Action | Hong Kong Government | Fiscal Stimulus | Implemented 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 individuals | https://www.news.gov.hk/eng/2020/05/20200527/20200527_162400_939.html?type=category&name=covid19 | |||
3207 | Hong Kong | 5/29/2020 | Action | Hong Kong Monetary Authority | Loan Guarantees | Announced 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 Kong | 5/30/2020 | Action | Hong Kong Home Affairs Bureau | Fiscal Stimulus | Extended 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 doubled | https://www.news.gov.hk/eng/2020/05/20200530/20200530_192046_783.html?type=category&name=covid19 | |||
3286 | Hong Kong | 6/2/2020 | Action | Hong Kong Labor and Welfare Bureau | Fiscal Stimulus | Announced 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 Kong | 6/2/2020 | Action | Leisure & Cultural Services Department | Fiscal Stimulus | Providing 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 Kong | 6/5/2020 | Action | Working Family & Student Financial Assistance Agency | Fiscal Stimulus | Disbursing 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 allowance | https://www.news.gov.hk/eng/2020/06/20200605/20200605_115744_600.html?type=category&name=covid19 | |||
3424 | Hong Kong | 6/8/2020 | Action | Hong Kong Government | Fiscal Stimulus | Announced 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 guides | https://www.news.gov.hk/eng/2020/06/20200608/20200608_192340_279.html?type=category&name=covid19 | |||
3425 | Hong Kong | 6/8/2020 | Action | Hong Kong Export Credit Insurance Corporation | Loan Guarantees | Announced 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 million | https://www.news.gov.hk/eng/2020/06/20200608/20200608_142232_737.html?type=category&name=covid19 | |||
3459 | Hong Kong | 6/9/2020 | Action | Hong Kong Government | Credit Facilities | Will 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 Kong | 6/11/2020 | Action | Hong Kong Development Bureau | Fiscal Stimulus | Will 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 Kong | 6/11/2020 | Action | Hong Kong Development Bureau | Fiscal Stimulus | Will 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 Kong | 6/12/2020 | Action | Hong Kong Education Bureau | Fiscal Stimulus | Extended 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 Kong | 6/16/2020 | Action | Hong Kong Government | Fiscal Stimulus | Announced 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 months | https://www.news.gov.hk/eng/2020/06/20200616/20200616_182733_890.html?type=category&name=covid19 | |||
3664 | Hong Kong | 6/17/2020 | Action | Hong Kong Government | Fiscal Stimulus | Announced 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 Kong | 6/17/2020 | Action | Hong Kong Government | Fiscal Stimulus | Announced 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 Kong | 6/18/2020 | Action | Hong Kong Government | Fiscal Stimulus | Doubled 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 Kong | 6/19/2020 | Action | Hong Kong Government | Fiscal Stimulus | Announced 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 Kong | 6/19/2020 | Action | Hong Kong Government | Fiscal Stimulus | Announced 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 Kong | 6/19/2020 | Action | Hong Kong Government | Fiscal Stimulus | Announced 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 Kong | 6/22/2020 | Action | Hong Kong Government | Fiscal Stimulus | Announced 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 Kong | 6/24/2020 | Action | Hong Kong Government | Fiscal Stimulus | Announced 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 Kong | 6/24/2020 | Action | Hong Kong Government | Fiscal Stimulus | Announced 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 Kong | 6/26/2020 | Action | Hong Kong Government | Fiscal Stimulus | Announced 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 Kong | 6/30/2020 | Action | Hong Kong Government | Fiscal Stimulus | Announced 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 Kong | 7/1/2020 | Action | Hong Kong Government | Fiscal Stimulus | Announced 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 Kong | 7/8/2020 | Action | Hong Kong Government | Fiscal Stimulus | Increased 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 Kong | 7/8/2020 | Action | Hong Kong Government | Fiscal Stimulus | Committed 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 Kong | 7/10/2020 | Action | Hong Kong Government | Fiscal Stimulus | Launched 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 Kong | 7/10/2020 | Action | Hong Kong Government | Fiscal Stimulus | Announced 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 Kong | 7/15/2020 | Action | Hong Kong Government | Fiscal Stimulus | Announced 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 Kong | 7/16/2020 | Action | Hong Kong Government | Fiscal Stimulus | Extended 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 Kong | 7/28/2020 | Action | Hong Kong Government | Fiscal Stimulus | Announced 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 Kong | 8/5/2020 | Action | Hong Kong Monetary Authority | Macroprudential Policy | Announced 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/ |