HK$5,000 voucher scheme will open for registration in July

The HK$5,000 voucher scheme is expected to open for registration next month, if the testing of the operating systems runs smoothly, according to Hong Kong’s financial secretary Paul Chan. Chan told Hong Kong’s lawmakers that the e-voucher scheme, which offers HK$5,000 worth of spending vouchers, will open for registration in July when the testing goes without problems. The preparation is in the final stage and the Hong Kong government is expected to announce details, including the sign-up process and payment methods, at the end of this month.

The scheme works with four payment service providers, namely AlipayHK, Octopus, Tap & Go and WeChat Pay HK. Under the scheme, every adult Hong Kong resident will receive HK$5,000 in local spending vouchers. It is expected that about 7.2 million people will be benefited, with the government expecting to give out HK$36 billion in total, of which HK$600 million covers administrative expenses.

Announced in February, the scheme is designed to boost local spending and accelerate Hong Kong’s economic recovery. To offer more flexibility for residents, Chan said the expiry date for the digital vouchers could be extended to next year’s Chinese New Year and distributed in fewer instalments.

Originally, the government planned to issue the e-vouchers in five stages but it changed its plan later. Currently, the government has not stated the expiry date for each instalment.