HONG KONG: Hong Kong is catching up with global peers in its fiscal response to the coronavirus outbreak with the announcement of an “unprecedented” HK$137.5bil (US$17.7bil) stimulus package focused on avoiding mass job losses.
The fresh stimulus raises inevitable comparisons with spending measures unveiled by its geographic neighbour and financial-hub rival Singapore, with the two governments among the first to confront the coronavirus threat before its wider spread beyond Asia.
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