Hong Kong recovery may take longer than expected, Chan says

He once again urged landlords to offer tenants rental concessions to ride out the impact.

Hong Kong’s economy may take longer than expected to recover due to the fluidity of the local virus situation and global economic uncertainties, Financial Secretary Paul Chan said.

“Business and economic activities that have seen signs of recovery have been hit by the fresh wave of the virus,” Chan said in a blog post on 26 July. He once again urged landlords to offer tenants rental concessions to ride out the impact.

The city is experiencing its worst wave of the coronavirus outbreak after returning to relative normalcy between mid-April and June. It has reported more than 100 local cases daily for the past four days, with almost half of unknown origin.

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