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Article: HONG KONG GOVT ANNOUNCES US$12.9 BLN ECONOMIC STIMULUS PACKAGE.
- Article from:
- AsiaPulse News
- Article date:
- December 9, 2008
CopyrightCOPYRIGHT 2008 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HONG KONG, Dec 9 Asia Pulse - Hong Kong's Chief Executive, Donald Tsang, announced Monday that the government would provide up to HK$100 billion (US$12.9 billion) in loan guarantees for enterprises and make available over 60,000 employment opportunities next year as part of the Government's efforts to lead Hong Kong out of the economic downturn.
Speaking after the second meeting of the Task Force on Economic Challenges (TFEC), the Chief Executive noted that the financial tsunami from the US had triggered a global economic recession and it seemed inevitable that the local economy would go into negative growth in 2009.
He said that although he expected the ...