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Budget Speech

Rental Enforcement Moratorium

117. Many SMEs currently face huge challenge amidst the adverse business environment.  Taking into consideration that rental payment constitutes a major part of the operating expenses of enterprises, we will expeditiously introduce new legislation to prohibit landlords from terminating the tenancy of or not providing services to tenants of specified sectors for failing to settle rents on schedule, or taking relevant legal actions against them.  The relief will be valid for three months and, if necessary, be extended one more time for the same duration, with the legislation automatically lapsing after six months.  The arrangement will provide enterprises in deep water with breathing space and help secure employment.  HKMA will be in close communication with the banking sector and banks will exercise flexibility if the repayment ability of any landlord is affected owing to reduction in his rental income.



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