CE Pledges 'special Measures' As Businesses Seek Aid

The Chief Executive, Carrie Lam, said the government is trying to come up with exceptional measures to handle issues like insurance coverage for the business community amid complaints about the toll being wrought by the ongoing anti-government protests.

At a luncheon attended by representatives of various business chambers in Wan Chai, one entrepreneur complained to Lam that his chain of grocery shops had been hit hard by the police's use of tear gas. He added that the government’s characterisation of the protests as riots has rendered their insurance invalid.

Joe Chui said he and many other retailers need urgent help from the administration, or they risk having to close down in the near future.

“Our staff are suffering from tear gas every day. And as soon as the government declared a riot, our insurance is invalidated. So what are you doing to do about it?" he asked.

"And worse… one of our landlords now ask us to buy an additional HK$10 million of insurance to protect the interest of the landlord. Is the government going to underwrite this because as soon as we have no insurance, we cannot legally operate. If you don’t deal with this quickly enough, you will soon see lots of foreclosures, all over the streets of Hong Kong”, he said.

While the embattled leader said the government takes such concerns very seriously, Lam did not elaborate on exactly what officials are planning to do.

“Let me assure you that we are with you at this very difficult time”, Lam told Chui.

“I have asked the Secretary for Financial Services and the Treasury to examine it and to see what special measures we could put in place because when we said we are facing some unprecedented circumstances, these do warrant exceptional measures. If we still act in the same conventional mode as if business is usual, life is normal, then we are not being very responsible”, she stressed.

The CE also vowed to do her best to keep international events in Hong Kong going, after Allen Shi from the Chinese Manufacturers’ Association asked if the government would come up with measures to attract business travelers as well as organisers of Mice (meetings, incentives, conferences and exhibitions) events amid the ongoing unrest.

Lam said her administration is fully committed to restoring normality to society, adding her government may come up with more relief measures to help businesses ride out the difficult times.