Principal moratorium will help SMEs: chamber

The Hong Kong General Chamber of Commerce on Wednesday welcomed the measures unveiled in the Policy Address to support small and medium enterprises (SMEs). "I think most important to note is that the proposal to revive the mortgage moratorium, to allow the SMEs to repay the interest rather than the capital for the month borrowed for the mortgage," the chamber's CEO Patrick Yeung told RTHK. "I think it's a way to help them to address the current financial challenges." Chief Executive John Lee announced in his policy blueprint that SMEs can apply for a principal moratorium for up to 12 months to ease their cash-flow pressure, if they borrow money under government-backed loan schemes. Authorities will also offer partial principal repayment options. On government plans to kick-start the city's low-altitude economy by exploring the use of aerial technology, such as drones, Yeung said officials need to overcome technical challenges if they are to make use of low-altitude airspace for economic activity. "We have to look into the infrastructure, then where will be the good place to put up a space, and where to put up charging facilities, et cetera," he said. "So, it's a good idea, but definitely not an easy one to tackle with all those technical challenges possible facing this low-altitude economy." The government will set up a cross-departmental task force led by the deputy financial secretary to explore the use of technologies at the airspace within an altitude of up to 1,000 metres.

Principal moratorium will help SMEs: chamber

Principal moratorium will help SMEs: chamber

Principal moratorium will help SMEs: chamber

Principal moratorium will help SMEs: chamber

Principal moratorium will help SMEs: chamber