Hong Kong announces HK$4 bln in new economic support measures

Hong Kong's government on Wednesday pledged HK$4 billion ($511 million) in additional relief measures to help shore up an economy battered by months of protests that have eroded business confidence in the Asian financial hub.

Financial Secretary Paul Chan announced the measures at a news conference, where he also told reporters the anti-Beijing demonstrations had hurt international investor confidence in the Chinese-ruled city.

It marks the fourth round of such stimulus after the government previously offered around HK$21 billion in economic support, particularly to help the transport, tourism, and retail industries. ($1 = 7.8249 Hong Kong dollars)