Hong Kong rolls out 17-bln-USD schemes to prop up virus-hit industries

Hong Kong announced Wednesday a basket of relief measures worth 137.5 billion Hong Kong dollars (17.74 billion U.S. dollars) to prop up businesses and residents struggling amid the COVID-19 epidemic.

As a key part of the package, the government will allocate 80 billion Hong Kong dollars pay up to half of the wages of workers from coronavirus-hit sectors for six months, capped at 9,000 Hong Kong dollars for every beneficiary each month, Carrie Lam, Chief Executive of China's Hong Kong Special Administrative Region, said at a press conference.

Lam said the "unprecedented" move was aimed at preventing possible massive bankruptcies and lay-offs triggered by the epidemic.