The Government welcomes initiatives from the community to help various industries survive the economic storm, Secretary for Commerce & Economic Development Edward Yau said today.

Mr Yau made the statement in response to the Li Ka Shing Foundation’s move to launch of a $1-billion Crunch Time Instant Relief Fund to support small and medium enterprises.

“I'm glad to hear proposals or actual plans that would provide funding relief for certain hard-hit sectors like the restaurant industry. This is timely.

"The spirit and the arrangement are also quite similar to the recent economic relief package that we have introduced for the tourism industry, through simple methods and direct cash relief.”

The secretary noted that the Government is eager to collaborate with different sectors.

“We welcome any initiatives from the community at large, particularly people who are passionate in joining hands with the Government to help the community walk out of this economic storm.

“In the fullness of time, when we launch our efforts to rebound from the present doldrums, we will be expecting more collaboration between the Government and various sectors, for instance, in the promotion of business offerings and incentives to revitalise the consumption and the economy as a whole,” Mr Yau added.