Hong Kong retailers host 93,000 applications for Covid-19 support
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The Hong Kong government has nearly completed vetting Covid-19 support applications under its Retail Sector Subsidy Scheme, which drew around 93,000 applications.
Applicants are being gradually notified of results, with about 66,000 having already been contacted, two-thirds of which were successful. The remaining applications are currently under processing with around 10,000 required to submit further information or documents to determine whether they are eligible for the scheme.
The scheme has thus far approved roughly HKD3.5 billion (US$451.5 million) in Covid-19 support for eligible retailers. The majority of unsuccessful cases involved businesses not explicitly engaged in retail, while some applications were duplicates.
The government anticipates that more than 60,000 applications will eventually be approved under the scheme, broadly in line with the number of establishments in the retail sector as estimated by its Census and Statistics Department.
Questions & Answers
Q.How many applications for Covid-19 support are still awaiting a final decision?
How many applications for Covid-19 support are still awaiting a final decision?
Around 17,000 applications are still being processed. This includes approximately 10,000 applicants who have been asked to provide additional information or documents to confirm their eligibility.
Q.What were the main reasons applications were rejected from the Retail Sector Subsidy Scheme?
What were the main reasons applications were rejected from the Retail Sector Subsidy Scheme?
The majority of unsuccessful applications were from businesses not directly involved in retail. Also, some applications were rejected because they were found to be duplicates of existing submissions.
Q.How much funding has been approved so far under the Retail Sector Subsidy Scheme?
How much funding has been approved so far under the Retail Sector Subsidy Scheme?
The scheme has currently approved approximately HKD3.5 billion in Covid-19 support. This amount translates to around US$451.5 million for eligible retailers in Hong Kong.