HK rolls out HK$40b package to boost economy amid 'political volatility'

Hong Kong

HONG Kong rolled out a multibillion-dollar package of sweeteners to bolster its economy on Wednesday, as a slowdown in China and rising political tensions deepen its economic woes.

In unusually blunt comments for a budget address, Financial Secretary John Tsang said that "political volatility" was threatening to undermine the economy and warned disputes would intensify ahead of legislative elections this year, pitting the city's democratic opposition against pro-Beijing and pro-establishment political parties. He said that the conflicts must be resolved. "Politics and economics are closely intertwined. Political volatility will unavoidably impact our economy," Mr Tsang said.