Here at the Chamber, as is usual at this time of the year, we are busy putting together our Policy Address submission to the Chief Executive. However, there is nothing usual about the conditions facing Hong Kong right now.

Months of destructive protests followed by the Covid-19 pandemic have turned normal life and business operations upside down. The recent “third wave” of cases is a fresh blow, and it seems there is no end to the pandemic in sight.

Policymakers around the world are torn between protecting public health and keeping their economies ticking over and are spending billions to prevent their economies from collapsing. All eyes will be on the Chief Executive when she delivers her upcoming Policy Address, as she is expected to lay out a clear plan for supporting the economy and help Hong Kong recover once the pandemic eases.

For the business community, a key wish is for a safe and stable operating environment. Our member surveys have underlined that stability is essential for normal operations and to plan for the future. 

This is a very uncertain time, and we fully understand that defeating the virus comes first. In fact, we are proud to see the public and businesses playing their part in complying with the recommendations and rules to limit the spread. 

But this has been at tremendous cost to local businesses, especially the retail, food and beverage, personal care and fitness sectors, which have been hit hardest by the mandated closures and restrictions. Many are SMEs who will struggle to survive a prolonged lockdown, so it is vital that the Policy Address includes further measures to help. 

Hong Kong was an example to the world in the early months of the pandemic, and we hope that our efforts will halt transmission once again. But no matter how successful Hong Kong is in controlling the virus, if the Government does not help local businesses survive this period, it will have failed in the eyes of society.

Unlike many other economies, Hong Kong has huge fiscal reserves, and we cannot afford to hold back at this time of great need. We hope the Chief Executive will listen to the concerns of Chamber members and ensure that Hong Kong businesses are given appropriate support to help them survive these unprecedented times.

George Leung
[email protected]