May 30, 2023
HONG KONG – The Hong Kong Special Administrative Region government will roll out the second instalment of the 2023 Consumption Voucher Scheme on July 16 as part of its efforts to boost summer spending, Financial Secretary Paul Chan Mo-po announced during a news conference on Monday.
Hong Kong permanent residents and new arrivals aged 18 or above will receive consumption vouchers valued at HK$2,000 ($255) through their accounts with six stored value facilities comprising AlipayHK, Octopus, Tap & Go, BoC Pay, HSBC’s PayMe and WeChat Pay HK, while people coming to live in Hong Kong through different admission schemes or to study in the city will enjoy vouchers of half that value. Around 100,000 people benefited from half-price vouchers last year.
The second handout is expected to inject HK$13 billion into the market, consolidating Hong Kong’s economic recovery, said Chan.
Tourism and various sectors have seen robust recovery since the COVID-19 pandemic measures were dropped, and thus the future distribution of vouchers depends on economic, social and livelihood conditions.
Paul Chan, Financial Secretary, HKSAR
The SAR government said that existing registrants can amend their registration records to change e-payment accounts between June 5 and June 27, and newly qualified people who have not received consumption vouchers before can register for the plan during the period.
Consumption vouchers worth HK$5,000 or HK$2,500 will be disbursed to newly registered consumers on July 16 and October 16 separately.
The collection deadline for residents registered with Octopus is June 30, 2024, while the expiry date of vouchers distributed via the other five electronic payment platforms is Feb 29, 2024.
The HKSAR government has set up nine temporary service centers on Hong Kong Island, Kowloon and the New Territories to facilitate registration and voucher collection, which are available during working hours from June 5 to June 27.
Consumption vouchers worth HK$5,000 or HK$2,500 are scheduled to be distributed to residents according to the scheme, with the first instalment of HK$3000 or HK$1,500 having been distributed to 6.4 million registrants on April 16.
“In the past few years, we have distributed spending vouchers as part of our economic recovery efforts to mitigate the impact of the pandemic. The pandemic has now been brought under control and tourists have come back since our borders were reopened,” he said.
The Consumption Voucher Scheme is originally formulated to stimulate the pandemic-hit economy. Tourism and various sectors have seen robust recovery since the COVID-19 pandemic measures were dropped, and thus the future distribution of vouchers depends on economic, social and livelihood conditions,” said the finance chief.
Chan expressed his hope that the second round of e-vouchers and the Happy Hong Kong campaign will boost consumption and bring a more optimistic atmosphere.