A view of Hong Kong. Photo: VCG

The Financial Secretary of the Hong Kong Special Administrative Region (HKSAR) Chan Mo-po said on Sunday that the latest Omicron variant outbreak in the region has affected local business activity and the broader economy and vowed supportive policies.

In a blog post, Chan stressed that aside from the challenges created by the global pandemic, there will be more uncertainty in regard to implementing the HKSAR's development strategies in 2022. Chan cited the implementation of more epidemic prevention policies amid ongoing global supply chain bottlenecks, increasing commodities prices and adjustment to monetary policies in Western countries due to inflation.

Multiple variables may redirect the money flow and impact assets prices and the real economy, Chan wrote. These factors have led Chan to making conservative predictions when it comes to Hong Kong's economic growth in 2022. 

Chan reaffirmed Hong Kong's economy saw a clear recovery in the past seven months but the latest Omicron variant outbreak will hit local workers and shop owners ahead of the upcoming 2022 Spring Festival.

The secretary called on Hong Kong residents to fight the COVID-19 by using the tracking mobile app LeaveHomeSafe and follow related quarantine check protocols.

Chan vowed to increase the availability of vaccinations in order to contain the spread of the virus. The HKSAR government will also offer supportive policies and allocate social resources to confront the challenges created by the rise in cases.

Global Times