Gatherings of more than 50 people are currently banned under anti-coronavirus laws.
The legislation was unanimously approved by China's rubber-stamp parliament on Tuesday morning.
The bulk of the capital will come from new shares issued to Aviation 2020, a company owned by the government.
The current trickle could become an exodus after Beijing announced plans to impose a sweeping national security law on Hong Kong in response to the protests.
About 350,000 people in Hong Kong currently hold British National (Overseas) passports, which allow visa-free access to Britain for up to six months.
Violent anti-racism protests across the US have fuelled worries of a pick-up in COVID-19 infections and more pain for the world's top economy.
The letter addressed to Boris Johnson was signed by Malcolm Rifkind, Margaret Beckett, William Hague, Jeremy Hunt, David Miliband, David Owen and Jack Straw.
Despite the threat of another trade war, investors are focusing on the easing of lockdowns around the world.
Family members said Ho passed away shortly after 1.00 pm local time in hospital.
Many Hong Kongers, business groups and Western nations fear the proposal could be a death blow to the city's treasured freedoms.
The US announced sanctions against a Chinese government institute and eight companies for human rights violations.
The proposal for the security law -- expected to ban treason, subversion and sedition -- was introduced into China's rubber-stamp parliament on Friday.
China has largely brought the disease under control within its borders since the COVID-19 outbreak first emerged in the city of Wuhan late last year.
Analysts warned of further gyrations as the outbreak shows no sign of abating, with more than 100,000 people infected in 99 countries.
Fears about the impact of the outbreak have hammered world markets as investors fret over its economic impact.
Markets cheered China's announcement that it would halve levies on $75 billion worth of US imports after the two last month signed their mini trade deal
World Bank head David Malpass said the group plans to lower its global growth forecast owing to an expected hit to China.
Having dived nearly eight percent on Monday, Shanghai stocks were up 0.7 percent in early trade.
The latest outbreak is expected to deal a massive blow to China's already-fragile economy.
WHO held off on declaring a global emergency, despite confirmed cases in half a dozen other counties.
Airlines were among the worst hit stocks. Cathay plunged more than four percent and Air China tumbled nearly six percent.
Hong Kong struggled after last week's advances and was 0.90 percent lower, with Singapore, Wellington, Mumbai, Bangkok, Jakarta and Manila also in the red.