In view of the significant contribution of Hong Kong’s industries to GDP and employment, the Budget this year has proposed to allocate HKD2 billion to launch the “Reindustrialization Funding Scheme” to drive the development of advanced manufacturing by tapping into innovation and technology (I&T) solutions, thus bringing about a magnificent transformation for Hong Kong’s industries.
Many of the Chamber’s office bearers serve as NPC Deputies or CPPCC National Committee Members. Earlier, they attended the annual plenary sessions of the NPC and the CPPCC National Committee (“Two Sessions”) to express their views on issues such as the economic development and social livelihoods of the country and Hong Kong as well as the response to the COVID-19 pandemic, actively participating themselves in discussion of national affairs.
Having been hit hard since the onset of the COVID-19 pandemic, Hong Kong's economy is projected to contract by 8.9% in 1Q20
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