Hong Kong News

Nonpartisan, Noncommercial, unconstrained.
Friday, Sep 30, 2022

One million Octopus users collected consumption vouchers using app

One million Octopus users collected consumption vouchers using app

A million Hongkongers have used the Octopus app to get the first batch of electronic consumption vouchers last Thursday, the first day of their distribution, according to Financial Secretary Paul Chan Mo-po.
The first phase of this year's consumption vouchers, worth HK$5,000, have been disbursed to about 6.3 million Hongkongers last Thursday.

Those using Octopus cards have to collect the vouchers in two instalments. People may start to collect the first HK$4,000 voucher at Subsidy Collection Points of the Public Transport Fare Subsidy Scheme, designated convenience stores and supermarkets, Octopus Service Points or via Octopus mobile app.

In his blog on Sunday, Chan said due to last year's experience, people have become more familiar with the collection process. A million people managed to collect the amount using the Octopus app, which can be done at home.

The vouchers have boosted retail sales, he said.
Youngsters used them to buy electronic products, while elderly people going to Chinese restaurants spend the extra amount by ordering more dim sum. Housewives also buy more food to cook more dinner dishes.

There are also others who are comparing discounts offered by shopping malls and retail outlets, and who plan to go out for shopping later when the Covid-19 outbreak subsides.

Chan said the vouchers can ensure people spend the money within Hong Kong. They also help to enhance the use of digital payments in the city.

An increasing number of shops are exploring online sales. More restaurants also allow diners to order food using their mobile phones.

On the other hand, Chan said the government plans to launch the green bonds by the end of this month, now that there has been a drop in Covid-19 cases.

The bonds were supposed to be launched in the beginning of March, but it was postponed due to the fifth wave of outbreak.

The interest rate will be linked to the city's inflation rate, while the minimum rate will be increased from 2 percent to 2.5 percent per annum.

Related Articles

Hong Kong News