Hong Kong provides support for businesses to retain and create jobs

Hong Kong has approved HK$12.1 billion (US$1.5 billion) in wage subsidies for eligible employers and employees.
By: | November 21, 2022

This was part of its employment support scheme under the Anti-epidemic Fund, according to Chris Sun, the city’s Secretary for Labour and Welfare.

The subsidies were meant for about 1.57 million employees, of whom some 1.48 million were granted “full subsidy”, 80,000 “half subsidy” and 10,000 others were granted “elderly subsidy”, Sun said in a written reply to a related question in the Legislative Council recently. 

The Employment Support Scheme Secretariat also approved wage subsidy applications of over 150,000 employers – which is about 90% of the eligible employers – for the months of June and July, he said, adding that it involves over HK$20 billion (US$2.56 billion) and around 1.35 million employees. 

To relieve the unemployment situation caused by the epidemic and the anti-epidemic measures, the government has earmarked a total of HK$19.8 billion (US$2.53 billion) under the Anti-epidemic Fund to implement the Job Creation Scheme in three phases.

Regarding self-employed persons, the scheme secretariat has also approved a one-off subsidy to all eligible self-employed persons, involving 98,000 persons and a total subsidy of over HK$780 million (US$99.71 million), he said. 

READ: Experienced employees key part of workforce strategy in Hong Kong

Aimed to help employers retain their employees and also employ more staff when the business revives, the scheme saw about 176,000 applications from employers involving about 1.66 million employees within the two-week application period ending on May 12, reported Asia News Network.