Hong Kong cuts taxes to shore up economy amid protests

1 day ago

HONG KONG (AP) — Hong Kong’s government announced tax cuts and higher social spending Thursday to reverse a deepening economic slump aggravated by anti-government protests and the U.S.-Chinese tariff war. The territory’s financial secretary, Paul Chan, cut this year’s official growth forecast to 0 to 1%, which could be the worst performance since 2009 during the global financial crisis. The previous