Chief Executive Tung Chee Hwa announced an HK$11.8 billion package to help boost Hong Kong's business environment. Behind Mr Tung is Financial Secretary Antony Leung.

The package includes a salaries tax rebate, waived water and sewage charges, reduced property rates and commercial rents, loan guarantees, license fee waivers and a job-creation plan for 21,500 people.

"The measures seek to relieve the short-term impact of atypical pneumonia on our economy," said Mr Tung. "They have also taken into account the medium-term need to make sure our budget is in balance and the possible impact of the package on the financial market.

"The package will relieve to a certain extent the short term difficulties of various sectors," Mr Tung added.

Financial Secretary Antony Leung said that the proposed measures were a "one-off" and that the recent Budget would not be changed.

Full text of measures can be read at: www.info.gov.hk/gia/general/200304/23/0423227.htm