Special Report:Global Financial Crisis
HONG KONG, Feb. 25 (Chinese media) -- Hong Kong would spend more than 300 billion
HK dollars (about 38.46 billion U.S. dollars) to ease pressure of economic
contraction, boost domestic demand and increase employment opportunities, said
Hong Kong's top financial official here Wednesday.
"We will also introduce some targeted measures to provide various types of
jobs and internship opportunities," said John Tsang, financial secretary of the
Hong Kong Special Administrative Region (HKSAR) government, when delivering his
second budget speech to the Legislative Council.
Tsang said 400 million HK dollars (about 51.2 million U.S. dollars)
non-recurrent funding would be embarked for the Labor Department to enhance and
integrate its various employment programs to provide training and employment
opportunities.
A total of 13 million HK dollars (about 1.6 million U.S. dollars)
additional funding will be provided for the Labor Department to adopt a more
proactive approach in providing employment assistance to those made redundant
during the financial crisis.
To address the influx of graduates into the labor market in the middle of
the year, the government will launch "Internship Program for University
Graduates" in the middle of the year to provide graduates with opportunities to
work as interns and receive training in local or Mainland enterprises for six to
12 months.
An additional 1.1 billion HK dollars (about 141 million U.S. dollars)
non-recurrent will be provided in funding various types of jobs, said Tsang.
He said besides creating jobs directly, the above measures would also
provide training and job opportunities specifically to those in need, including
young people, graduates, women, the middle-aged and the disabled.
"These measures will entail a provision of 1.6 billion HK dollars (about
205 million U.S. dollars) and create about 62,000 jobs and internship
opportunities in the next three years," he added.
Hong Kong financial secretary presents
2009-2010 budget
HONG KONG, Feb. 25 (Chinese media) -- Financial Secretary of
the Hong Kong Special Administrative Region (HKSAR) John Tsang began outlining
the budget for the fiscal year 2009-2010 at the Legislative Council here
Wednesday morning.
Delivering his second budget speech at the
Legislative Council, Tsang said the global financial environment has changed
dramatically last year, referring to what he called a "once-in-a-century
financial turmoil." Full story
HKSAR gov't continues managing public
finances prudently
HONG KONG, Feb. 25 (Chinese media) -- Hong Kong's top
financial official said here Wednesday that he would continue managing public
finances prudently by keeping expenditure within the limits of revenues, and
maintaining a low and simple tax regime.
John Tsang, financial secretary of the Hong Kong
Special Administrative Region, said he had stated his principles of management
of public finances in the 2008-2009 Budget, including managing public finances
prudently by keeping expenditure within the limits of revenues, maintaining a
low and simple tax regime, and following the direction of "Market Leads,
Government Facilitates". Full story
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