Hong Kong still heading for recession even with relief measures, economists warn

Hong Kong’s Financial Secretary Paul Chan has warned the city could be heading for a recession. Photo: Bloomberg

HONG KONG will not be able to avoid a recession this year despite the financial chief’s basket of help measures to shore up the struggling economy amid the downturn and political turmoil, economists say.

Financial Secretary Paul Chan Mo-po on Thursday announced HK$19.1 billion (US$2.43 billion) worth of relief measures for enterprises and residents, saying they could help boost the economy by 0.3 per cent.