Until Tuesday, the second phase of the government’s consumption subsidy smartcard scheme had injected around 2.9 billion patacas to into the local market, an Economic Affairs Bureau (DSE) statement noted yesterday.
The first phase of the scheme was between May 1 and July 31, while the second phase of the scheme started on August 1 and ends on December 31.
According to the statement, combining the figures from the first and second phase of the scheme, up until Tuesday it had injected 4.75 billion patacas into the local market, 63 percent of which (about 3.1 billion patacas) was spent on local small-and-medium-sized enterprises (SMEs). The statement noted that in the second phase around 64 percent of the subsidy went into local SMEs, a minor increase compared to the previous phase.
The statement also said that 99 percent of residents already have their smartcards from the first phase topped up, adding that 657,000 residents are part of the second phase of the scheme. The cards are known as “siu fai kat” in Cantonese.
Moreover, the bureau pointed out in the statement that it also supported local SMEs through its “SME subsidy plan” and “SME Bank Credit Interest Bonus Plan”. The statement pointed out that until Tuesday, the two plans had received 12,000 applications, 87 percent of which had been approved, adding that over 8 billion patacas have already been used to support local SMEs.
A resident tops up his government-subsidised consumption smartcard with the assistance of an official at the Government Services Centre in Areia Preta on July 27, the first day residents could top up their smartcards. Photo: Prisca Tang
