Following a record uptick in the number of people exiting the city, Hong Kong has expanded its pandemic stimulus program to include foreigners for the first time. In August, non-permanent residents and foreign students will each be eligible to receive HK$5,000 ($637) from the city.
A prior stimulus round in April was distributed to 6.3 million of Hong Kong’s approximately 7 million people but restricted to permanent residents. The additional upcoming payments to 300,000 foreign residents will cost an extra HK$1 billion, although the government is excluding domestic helpers and people planning to emigrate.
This is the fourth direct stimulus payment to Hong Kong residents since covid-19 emerged. While the first two payments were disbursed in cash, April’s payment and this one are in the form of vouchers that can only be spent at local retailers.
“We are suffering from a brain drain in a variety of industries,” local lawmaker Wendy Hong Wen told the South China Morning Post. “As the city is under post-pandemic reconstruction, we need talents urgently.”
https://qz.com/2176906/desperate-to-retain-talent-hong-kong-is-handing-out-cash-to-foreigners/