The Hong Kong government plans to spend HK$120 billion to alleviate the hardship and pressure caused by the coronavirus pandemic, Financial Secretary Paul Chan said in his 2021-22 budget speech on Wednesday.
The economy shrank 6.1 percent in 2020, which was the largest annual fall on record and also the first time for Hong Kong to log two consecutive years of contraction.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.