Big firms in Hong Kong to be excluded from government subsidies

The subsidy package will cover a monthly subsidy of HK$8,000 for each full-time employee, spanning a three-month period between May and July.
By: | March 22, 2022
Topics: Compensation and Benefits | Health and Wellness | Hong Kong | News

Hong Kong will be excluding large supermarkets, pharmacy chains, and other businesses “unaffected” by Hong Kong’s fifth COVID-19 outbreak, according to Chief Executive Carrie Lam. 

The subsidy package will cover a monthly subsidy of HK$8,000 (US$1,022) for each full-time employee, spanning a three-month period between May and July, and is expected to benefit up to 1.3 million workers, reports Hong Kong Free Press.

Any supermarket and pharmacy chain, property management company, bank, financial institution, delivery business, telecommunications firm, private hospital and land developer that employs over 50 workers will be excluded from the support scheme, noted an official statement. 

READ: Hong Kong provides protection for workers under quarantine

The upcoming handout would not apply to workers earning over HK$30,000 (US$3,834) a month, and businesses that receive the handouts would only be able to spend them on wages, said Lam. 

The wage subsidy scheme was first launched by the city in 2020, aimed at providing employers with handouts to help them retain staff who might have otherwise lost their jobs.