Hong Kong third wave: Financial Secretary Paul Chan warns government handouts won’t last, even as Covid-19 piles more pressure on economy

Hong Kong’s economy faces even greater pressure from the coronavirus crisis in the coming months but endlessly rolling out government support packages cannot be the long-term solution, the city’s financial chief has warned.Paul Chan Mo-po said on Sunday the “really worrying” surge in Covid-19 cases had taken its toll on the economy, which already slipped last year into its first recession for a decade and contracted sharply year-on-year over the first half of 2020.Predicting conditions were…

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