Gov’t to increase funding for consumption program

Secretary for Economy and Finance, Lei Wai Nong, announced plans to increase funding for the citywide consumption-boosting program aimed at encouraging residents to spend more during weekends. The initiative, which has already seen heightened participation, is designed to support local small and medium-sized enterprises (SMEs) by incentivizing consumer spending.

On the sidelines of the “Walk for a Million” event, Lei stated that the budget had been increased, highlighting the program’s success in driving local commerce. The government’s strategy includes enhancing the chances of winning coupons through a lucky draw, which has attracted crowds to participating shops. “People are queuing up in some shops,” he noted, emphasizing the popularity of such programs among locals and their impact on increasing commerce.

While the exact amount of the budget increase remains undisclosed, Lei assured that details would be revealed after the program concludes. The current initiative has been well-received, with many residents eager to participate in the rewards system that encourages spending at local businesses.

This consumption-boosting program aims to combat the trend of residents shopping in mainland China, particularly during holidays and weekends when prices are often lower. Lei hopes to retain consumer spending within the city. NS