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| No.3 June, 2009 |
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HK$17b in loans approved under guarantee scheme |
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Financial Secretary John Tsang says the Special Loan Guarantee Scheme has approved more than 9,000 applications, involving a total of over HK$17 billion (around A$2.8 billion) up to June 1.
Mr Tsang told lawmakers (June 3) the scheme aims to help local enterprises secure loans from participating lending institutions during the global financial crisis.
Except listed companies, all registered firms with substantive business in Hong Kong and which have operated for at least one year before the scheme's implementation can apply for loans to meet their general business needs. Hong Kong-funded factories located in the Pearl River Delta Region are also eligible.
"Over 30% of the successful applications came from the manufacturing sector. We believe many Hong Kong-funded factories have already benefited from the scheme," Mr Tsang said. |
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Mr Tsang said the expansion of the Transport Support Scheme to provide travel subsidies to people living across the metropolitan area would help more people looking for work and kick start the jobs market.
He noted the Labour & Welfare Bureau would review comprehensive and objective review in July - one year after expanding the scheme originally designed to assist those people living in outlying districts.
"Since last year, the Government has introduced several rounds of relief and job-preserving measures to create favourable conditions for steadying our economy.
"This, together with the signs of downward trends in the external environment moderating, suggests the rate of contraction of our economy is likely to slow in the second half of this year, which will help slow down the rise in unemployment," Mr Tsang added. |
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