Hong Kong Chief Secretary for Administration Matthew Cheung Kin-chung (left) shares his views on Commercial Radio's program "Saturday Forum", Jan 18, 2020. (PHOTO / HKSAR GOVERNMENT)

HONG KONG - The 10 initiatives announced by the chief executive earlier this week were meant to be institutional changes aiming to tackle Hong Kong's long-term livelihood issues, according to the city’s Chief Secretary Matthew Cheung Kin-chung. 

Chief Secretary Matthew Cheung said the government is serious in its bid to tackle long-term problems in the city

Speaking on a radio program on Saturday, Cheung said the 10 measures were different from relief packages unveiled by the financial secretary which were one-off relief measures.

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Citing the Old Age Living Allowance as an example, Cheung said the government is serious in its bid to tackle long-term problems in the city.

The 10 measures include reforming the Old Age Living Allowance Scheme (OALA) by combining the normal OALA and the higher one with a standard monthly payment rate of HK$3,585.

Cheung said the reform was a major step toward improving old age protection, particularly retirement protection.

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Under the reform, the asset limit for applicants under the Old Age Living Allowance will also be raised to HK$500,000, a move Cheung said would benefit some 150,000 people.