Each Hong Kong permanent resident to receive $6,000

75% reductions in salaries tax and tax under personal assessment, capped at $6,000, will also be given to each permanent adult.

According to Hong Kong Information Services Department, Financial Secretary John Tsang said, "under the new proposal, people can choose to draw the full $6,000 through a platform depending on their needs, and there will be incentives to encourage them to save."

This new measure will replace the original proposal in the Budget which suggested injecting $6,000 into Mandatory Provident Fund accounts.