|14 January, 2020

Hong Kong leader pledges $1.3bln in new relief measures to prop up weakened economy

Proposed new spending brings the global financial hub's total stimulus to HK$35bln since this summer

Hong Kong chief executive Carrie Lam speaks to the media in a weekly news briefing after local elections in Hong Kong, China, November 26, 2019. Image used for illustrative purpose.

Hong Kong chief executive Carrie Lam speaks to the media in a weekly news briefing after local elections in Hong Kong, China, November 26, 2019. Image used for illustrative purpose.

REUTERS/Marko Djurica

HONG KONG  - Hong Kong's embattled leader Carrie Lam on Tuesday pledged HK$10 billion ($1.3 billion) in new relief measures to prop up an economy as it grapple with months of anti-government protests that have hurt business confidence in the city.

The proposed new spending brings the global financial hub's total stimulus to HK$35 billion since this summer, when protests escalated and have since taken a heavy economic toll, especially in the tourism and retail sectors.

($1 = 7.7736 Hong Kong dollars)

(Reporting By Clare Jim, Donny Kwok and Sharon Tam, Writing by Anne Marie Roantree; Editing by Shri Navaratnam) ((annemarie.roantree@thomsonreuters.com; +852 97387151; Reuters Messaging: annemarie.roantree.thomsonreuters.com@reuters.net))

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