Hong Kong's economy shrinks record 8.9%, worst quarterly contraction ever

Hong Kong has received its worst quarterly contraction since it officially started keeping records, official figures released on May 4 revealed. According to reports, it is currently experiencing its third quarter of negative growth owing to coronavirus pandemic. semi-Automous region was already ecomic losses due to a month of street protests and trade woes between US and China, and health disaster pushed it furr into recession.

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Bigger fall than Asian financial crisis 

Advance figures by officials show an 8.9 per cent contraction in first quarter, marking worst since govt first started compiling data in 1974. se figures mark a bigger fall than 7.8 seen in early 2009 and Asian financial crisis of 1998. Experts have opined that current ecomic situation in region is worst since 2008 financial crisis.

On disaster manment front, region has done between than most of nations. Despite bordering China, epicentre, it has only reported 1,041 cases and four fatalities. 

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Marking ar pathbreaking development in prevention of COVID-19 infection, researchers at Hong Kong University have developed an antiviral coating that protects surfaces from bacterias and viruses for at least 90 days. Scientists at Hong Kong University of Science and Techlogy reportedly took at least ten years to develop coating called Multilevel Antimicrobial Polymer or MAP-1, that can be sprayed on surfaces for public use especially during se times of global health crisis for protection. 

One of chief researchers in team that developed coating, Joseph Kwan has said that if MAP-1 is sprayed on surfaces like elevators, trains, handrails, that act as most significant medium for transmission of deadly diseases, y would be virus free for at least three months. Scientists claim that MAP-1 is made by millions of na-capsules that contain disinfectants. According to Kwan, disinfectant in coating can kill microorganisms like bacteria, viruses, and spores even after it has dried. 

Read: Hong Kong Researchers Develop Antimicrobial Coating That Keeps Surfaces Clean For 90 Days

Read: Coronavirus: Hong Kong Reports Zero New Cases For Third Consecutive Day

Im credits: AP