Month: February 2026

Source: Hong Kong Information Services

Financial Secretary Paul Chan proposed in his 2026-27 Budget today to refine the associated tax regime and institutional framework, nurture talent and leverage the city’s strengths in professional services, with a view to boosting economic development through driving intellectual property (IP) trading and financing.

Delivering his speech this morning, Mr Chan said reducing costs will facilitate more relevant trading activities, which would be conducive to the development of knowledge-intensive industries and could reinforce Hong Kong’s position as a regional IP trading centre.

He noted that the Government is consulting the trade on tax deduction arrangements for capital expenditure incurred for purchasing IP or the rights to use IP and plans to introduce an amendment bill this year.

In addition, the Government has earmarked $28 million to support the Hong Kong Technology & Innovation Support Centre in providing innovation and technology (I&T) enterprises with patent evaluation based on Guobiao, and implementing the two-year Pilot Patent Valuation Support Scheme to assist I&T enterprises for conducting valuation of their patent assets.

The Intellectual Property Department, together with the Vocational Training Council, will roll out a two-year pilot programme and establish the Intellectual Property Academy to provide on-the-job training linked to the Qualifications Framework. The Government has earmarked $52 million for the project, which is targeted to commence at the end of this year.

Highlighting another industry with a competitive edge, Mr Chan noted that the Department of Justice (DoJ) is preparing for the development of the Hong Kong International Legal Service Building as a new international legal hub landmark, which will be home to the headquarters of the Hong Kong International Legal Talents Training Academy and international legal and dispute resolution services institutions, etc. The preparatory works will commence this year.

The International Institute for the Unification of Private Law will establish its Asia‑Pacific Liaison Office in Hong Kong this year. Mr Chan pointed out that the DoJ will continue attracting international legal and dispute resolution services institutions to establish offices in Hong Kong. 

To strengthen the promotion of mediation and arbitration services, the Government will strengthen the regulatory framework for accreditation and disciplinary matters of the mediation profession in Hong Kong and take forward the legislative exercise this year.

Source: Hong Kong Information Services

Chief Executive John Lee today met Secretary of the CPC Guangxi Zhuang Autonomous Region Committee Chen Gang at Government House to exchange views on deepening co-operation between Hong Kong and Guangxi.

Mr Chen is leading a delegation to attend a Guangxi promotion conference tomorrow. Mr Lee will witness and support the signing of a co-operation agreement between Guangix and Hong Kong at the conference.

Mr Lee higlighted that the Hong Kong Special Administrative Region Government has established a “Task Force on Supporting Mainland Enterprises in Going Global”, and expressed confidence in working together with Guangxi to tap into overseas markets, including the Association of Southeast Asian Nations, to explore more global business opportunities.

Mr Lee said that Hong Kong, as a core city in the Greater Bay Area, will proactively align with the National 15th Five-Year Plan to deepen co-operation, regional integration and efficient connectivity in the bay area.

In addition, he iterated that Hong Kong will harness its role under the “one country, two systems” principle in connecting with both the Mainland and the world, to promote Guangxi’s further opening-up internally and externally, seize bay area opportunities, and contribute to the country’s high-quality development.

The Chief Executive said he hopes the two places can deepen co-operation for mutual benefit, particularly through more in-depth and extensive exchanges in areas such as innovation and technology, and youth people.

He added that with the advancement of the Western New Land-Sea Corridor, Hong Kong and Guangxi will further strengthen practical co-operation in shipping and logistics, jointly seizing the immense opportunities presented by national development strategies.

Source: Hong Kong Information Services

Financial Secretary Paul Chan announced in his Budget a series of policy initiatives to consolidate and enhance Hong Kong’s status as an international trade centre, international aviation hub and international maritime centre.

Mr Chan noted that the Recommendations for Formulating the 15th Five‑Year Plan support Hong Kong to consolidate and enhance industries with a competitive edge.

To consolidate and enhance the city’s status as an international trade centre, he highlighted that Hong Kong has to expand its commerical and trade network through strengthening its role as the functional node for the Belt & Road Initiative.

The Government will collaborate with industry players to further develop the Association of Southeast Asian Nations and Middle East markets, and explore the potential of Central Asia, South Asia and North Africa markets.

Meanwhile, the Government will forge more free trade agreements and investment agreements (IAs) and is exploring the signing of new IAs with Saudi Arabia and Egypt.

To further attract enterprises to set up in Hong Kong, last year’s Policy Address announced that the Government would formulate preferential policy packages to promote industries and investment.

The Financial Secretary said the Government has formulated a preliminary framework, which would take into account a series of factors, including the enterprise’s industry and its technology level, as well as the potential economic contributions and employment opportunities it can bring to Hong Kong.

Policy tools include land grant arrangements, financial subsidies and tax incentives. The preferential tax rates will be half‑rate or 5%. The Government will introduce an amendment bill this year.

Mr Chan will also establish and chair the Advisory Committee on Tax Policy to gather views widely from commercial, industrial and professional sectors, so that Hong Kong’s tax policy can reinforce economic development.

In addition, the Government will set up a cross-sectoral professional services platform to bring together Hong Kong’s professional services providers in the field of legal services, accounting, financial services, testing and certification, marketing, etc. to support Mainland enterprises in going global.

To promote further development of the exhibition industry and brand building as an international convention and exhibition hub, the Government will earmark $100 million for attracting large-scale international exhibitions with new elements to Hong Kong through collaborating with relevant organisations on a pilot basis.

Its objective is to develop Hong Kong into the first‑choice platform for showcasing Mainland and international brands, while attracting high‑spending business visitors to Hong Kong and driving high value-added economic activities.

The Budget also outlined measures to support local enterprises and strengthen their competitiveness.

The Government will inject $200 million into the Dedicated Fund on Branding, Upgrading & Domestic Sales (BUD Fund), raise the funding ceiling of “Easy BUD” to $150,000 per application, and provide more targeted funding support for enterprises in artifical intelligence application.

The Hong Kong Export Credit Insurance Corporation will introduce a pilot scheme this year to provide protection for small and medium enterprises engaging in exports with higher-risk buyers.

Additionally, the Centre for Food Safety will waive the fees related to the certification of food products export for two years. The Government will also introduce a new unified brand for local agricultural and fisheries products in the middle of this year, supported by a certification, testing and traceability mechanism.

To further enhance Hong Kong’s competitiveness as an international aviation hub, Mr Chan highlighted that the Government will strive to enter into new air services agreements and expand traffic rights with regions demonstrating development potential, such as the Middle East, Central Asia, Africa and South America.

He noted that the new passenger departure facilities at Terminal 2 of Hong Kong International Airport (HKIA) are scheduled to commence operations in May, which will substantially enhance the airport’s overall capacity.

In addition, the construction of the intermodal pier under Phase 1 of the HKIA Dongguan Logistics Park has been completed. The remaining works are expected to be completed within this year and targeted for commissioning in the first half of next year.

Hong Kong will also elevate its status as an international maritime centre, with the Government striving to promote smart logistics and digital transformation in the industry, while expanding the cargo hinterland to secure more transhipment cargo.

Mr Chan said the Government will launch the Future Innovative Logistics Acceleration Scheme this year to drive the transformation of the industry and enhance the interconnectivity of logistics data, with a view to increasing the competitiveness of the logistics industry and developing Hong Kong into an international smart logistics hub.

Meanwhile, the Government has reserved about 32 hectares of land in the Hung Shui Kiu/Ha Tsuen New Development Area for developing a modern logistics cluster and will invite expressions of interest from the industry for the development of the first site this year.

To further promote the development of high value added maritime services in Hong Kong, the Government will introduce an amendment bill in the first half of this year to enhance tax concession measures for the maritime service industry and provide a half rate tax concession to eligible commodities traders.

To consolidate Hong Kong’s premier position in ship registration, the Government will introduce an amendment bill this year to revamp the existing ship registration arrangements, including permitting a dual registration arrangement to cater for the diverse operating models of international maritime enterprises.

The Government will also provide port dues concessions for vessels powered by green fuel as well as those carrying green fuels to attract more vessels to bunker green fuel in Hong Kong. An incentive scheme will also be launched for green vessels registered in Hong Kong to encourage green transformation of Hong Kong fleets. All these involve government subsidies of around $34 million. The Government will take forward a legislative amendment exercise this year to provide more anchorages for green maritime fuel bunkering operations.

The finance chief added that the Government will amend the relevant legislation within this year to extend the current arrangements under the Air Transhipment Cargo Exemption Scheme to other sea transhipment and sea-air transhipment modes.

Source: Hong Kong Information Services

Financial Secretary Paul Chan today said the 2026-27 Land Sale Programme will include nine residential sites, while no general commercial sites will be put up for sale.

Delivering the 2026-27 Budget this morning, the Financial Secretary said the Government will make available land for the establishment of about 98,000 private housing units in the next five years. 

Factoring in the nine residential sites, railway property development projects, projects undertaken by the Urban Renewal Authority, as well as private development and redevelopment initiatives, Mr Chan said the potential land supply for the whole year is expected to provide capacity for some 22,000 units. 

He emphasised that the specific land sale arrangements will be announced on a quarterly basis after careful consideration of market conditions and other relevant circumstances for the market’s steady development.

He also highlighted that the Government will not put up general commercial sites for sale in the coming year, after considering the vacancy rate in the non-residential property market, supply, and demand.

In addition, the Hong Kong Investment Corporation will collaborate with regional and international long-term capital to channel funds into high-quality commercial property projects that align with the city’s industrial positioning and match them with enterprises from target industries.

Mr Chan said the Development Bureau is inviting the market to submit expressions of interest for post‑secondary student hostel development at three sites. Subject to market response, the relevant sites may be put up for tender.

The Financial Secretary also highlighted in his Budget that the Government is pressing ahead with the development of the Northern Metropolis (NM).

The first batch of site formation works for the innovation and technology (I&T) land at the San Tin Technopole and the university land at Hung Shui Kiu will be completed within this year. 

The Government will seek funding approval from the Legislative Council in 2026-27 to kickstart projects such as the site formation and engineering infrastructure works for the Ngau Tam Mei New Development Area and Stage 2 of the San Tin Technopole Phase 1 Development, and construction of the government joint-user complex in Kwu Tung North. 

Mr Chan also mentioned that the Government established the Hung Shui Kiu Industry Park Company last month, adding that the company will develop and operate around 23 hectares of industry land in Hung Shui Kiu through direct participation and public‑private partnership, with a view to bringing in more industries in an accelerated manner. 

He said the Government plans to seek funding approval from LegCo to inject initial capital of $10 billion to support the company’s initial operation and development needs, thereby enabling its operation to commence by the middle of this year.

Furthermore, the Government is due to conduct public consultation on a proposal to introduce dedicated legislation to accelerate the NM’s development.

Mr Chan said the Government aims to introduce a bill in the middle of this year. 

In addition, the NM Project Supervision Office will expedite large-scale private development projects in the NM by strengthening co-ordination and imposing time limits on the approval process. Such administrative arrangements are also applicable to development projects outside the NM.

On housing supply, Mr Chan said the total public housing production in Hong Kong will be around 196,000 units in the coming five years, after taking into account Light Public Housing (LPH).

He added that this figure represents an increase of more than 80% compared to the five‑year period since the current‑term Government took office.

Mr Chan remarked that around 9,500 LPH units were built and commissioned last year, steadily moving towards the target of completing around 30,000 LPH units by 2027‑28.

Meanwhile, the Basic Housing Unit regulatory regime will come into effect in March with a 48‑month transitional arrangement.

Regarding private housing supply, it is estimated that the completion of private residential units will average around 17,000 units annually over a five-year period from this year. 

The potential supply of first‑hand private residential units for the next three to four years will be around 104,000 units.

On infrastructure development, Mr Chan said the Government is pressing ahead with a series of railway, major road, and Smart & Green Mass Transit System projects.

Among these, the Central Kowloon Bypass (Yau Ma Tei Section) is now open to traffic, while the remaining Kowloon Bay Section is expected to be completed by the end of this year.

As for railways, Mr Chan said projects including Kwu Tung Station, Tung Chung Line Extension, Hung Shui Kiu Station, Tuen Mun South Extension and Oyster Bay Station will be completed progressively from next year onwards.

In addition, Mr Chan highlighted that the Government will inject $1 billion into the Construction Innovation & Technology Fund. It has also earmarked $100 million to commission the Building Technology Research Institute to conduct various studies. These include reviewing construction standards and exploring artificial intelligence applications.

Source: Government of Singapore

25 February 2026 – Visitors heading to Choa Chu Kang Cemetery, Choa Chu Kang Columbarium, Mandai Columbarium and Yishun Columbarium should expect crowds in the lead-up to Qing Ming. The 11 peak days comprise Good Friday (3 April 2026) and the 10 Saturdays and Sundays between 21 March 2026 and 19 April 2026, which include Hari Raya Puasa (21 March 2026) and Qing Ming Day (5 April 2026) [1]. 

2.           Members of the public are encouraged to consider visiting these facilities outside of the peak days. Additionally, to cater to the anticipated demand, all three columbaria will be opened 24 hours from 21 March 2026 to 19 April 2026. 

3.           The two inland ash scattering gardens – Garden of Peace (at Choa Chu Kang Cemetery) and Garden of Serenity (adjacent to Mandai North Crematorium) – will be closed to visitors on the 11 peak days:

• Only next-of-kin with approved schedule for inland ash scattering services will be allowed into both gardens on these 11 peak days, to accord privacy to the next-of-kin.

• Public may visit the gardens outside of the peak days or on weekdays between 21 March 2026 and 19 April 2026.

Realignment of Lim Chu Kang Road

4.           Visitors to Choa Chu Kang Cemetery and Choa Chu Kang Columbarium should note that Lim Chu Kang has been realigned from Jalan Bahar to a new junction with Old Choa Chu Kang Road. Bus services 172, 405, and 975 have been rerouted, with new and existing bus stops relocated along the realigned roads. Visitors are advised to allow extra travel time and check updated route information before travelling.

Safety reminder for visitors 

5.           When visiting the facilities, visitors are strongly advised to prioritise their safety and remain mindful of their surroundings. Exercise extra caution when walking within the cemetery and columbarium compounds, particularly elderly visitors and children, to prevent slips, trips, and falls. Visitors should wear appropriate footwear with good grip, stay on designated pathways, and accompany elderly family members and young children closely. Please maintain adequate hydration and seek assistance if you feel unwell during your visit. 

6.           Similarly, motorists should stay alert, maintain safe distances, keep to the speed limit within the facilities, and be particularly vigilant for pedestrians. Vehicles are to be parked in designated areas only.

Free shuttle bus services for Choa Chu Kang and Mandai Columbaria on Peak Days

7.           Visitors are encouraged to use the free shuttle bus services available on the 11 peak days, or public transport services to reach Choa Chu Kang and Mandai Columbaria. Shuttle buses to Choa Chu Kang Columbarium will depart from Yew Tee MRT Station, whilst those to Mandai columbarium will depart from Khatib MRT Station. 

E-appointment for Car Park in Choa Chu Kang and Mandai Columbaria Opens on 9 March 2026

• Visitors are required to show proof of their successful e-appointment bookings, such as confirmation email, before they are allowed to park in Choa Chu Kang and Mandai Columbaria during the stipulated dates and times. 

• Available slots for booking will be displayed once users successfully log in to the page using their SingPass. 

• As appointment slots are limited, visitors should make their bookings in advance.

10.         An e-appointment is not required for vehicles entering Choa Chu Kang and Mandai Columbaria outside the dates and times specified in Para 8 above. Visitors taking public transport and motorists dropping off passengers also do not need appointments. 

Real-time information on traffic conditions during peak period 

Update on Choa Chu Kang Columbarium 

Key Points to Note 

13.         To minimise fly ash and maintain safe, clean premises, all visitors are reminded of the following: 

• Use designated burners and pits for burning joss paper at the cemetery and columbaria. 

• Burn joss paper in small quantities to reduce ash dispersal. 

• Do not leave lit candles, joss sticks and joss paper unattended at any time. 

• Clear all food offerings and/or litter, to prevent pests. Any offerings left unattended will be disposed of to maintain cleanliness and minimise inconvenience to other visitors. 

• Avoid consuming food and drinks within the columbaria premises. 

• Do not bring pets into the columbaria. 

14.         Visitors to the cemetery and columbaria should not offer any forms of gratification, including ‘red packets’, to all staff working at these premises. 

~~ End ~~

For more information, please submit your enquiries electronically via the Online Feedback Form or myENV mobile application.

Source: Hong Kong Information Services

Chief Secretary Chan Kwok-ki today said the 2026-27 Budget is comprehensive, pragmatic and forward-looking, and called on all sectors of the community to give their full support to it.

At a media session at the Legislative Council Complex after the Financial Secretary delivered the Budget, Mr Chan said the Government will continue to deploy resources effectively, promote economic development – particularly the accelerated development of the Northern Metropolis – and improve people’s livelihoods.

“Together, we will seize new opportunities and sharpen Hong Kong’s core competitiveness,” he said.

He also remarked that Hong Kong’s economy has demonstrated remarkable resilience over the past year.

“We achieved steady growth in 2025, and our fiscal position has improved significantly. This is a hard-earned result.”

Noting that this year marks the beginning of the National 15th Five-Year Plan, he emphasised that the Budget proactively aligns with the country’s strategic directions, enhancing Hong Kong’s better integration into and contribution to the overall national development.  

He also pointed out some highlights of the Budget, such as stepping up innovation and technology development, strengthening Hong Kong’s status as an international financial centre, enhancing the competitiveness of the city’s traditional industries, nurturing and attracting talent, as well as taking care of people’s livelihoods.

The Chief Secretary urged all sectors of the community to work together to promote the city’s high-quality development and build an even better Hong Kong.

Source: Hong Kong Information Services

Financial Secretary Paul Chan said in his 2026-27 Budget speech today that the Government will earmark $10 billion for loans to support campus development at the Northern Metropolis University Town.

The Government also plans to release three sites in the Hung Shui Kiu/Ha Tsuen New Development Area for applications for campus development by University Grants Committee-funded universities and universities of applied sciences.

The Government has earmarked resources to support, on a matching basis, the Hong Kong University of Science & Technology in developing the city’s third medical school, which aims to admit its first cohort of students in the 2028-29 academic year.

Land at Ngau Tam Mei in the Northern Metropolis has been reserved and resources will be earmarked for the new medical school’s permanent campus and an integrated teaching and research hospital.

To continue nurturing construction professionals to meet future manpower needs, and to assist more graduates in obtaining professional qualifications, Mr Chan said the Government will allocate $65 million to provide additional government-funded training places this year.

Moreover, the Government will extend the Programme to Enhance Talent Training for the Insurance Sector by three years to enhance the professional competency of insurance practitioners.

To date, Hong Kong’s various talent admission schemes have attracted over 270,000 talented individuals to the city, with the Top Talent Pass Scheme drawing over 100,000 elite individuals from around the world.

Source: Hong Kong Information Services

Financial Secretary Paul Chan said today that the Government will earmark resources to launch a five-year waste reduction and recycling plan from 2026-27.

In his Budget speech, Mr Chan said the plan will form part of the Government’s efforts to accelerate green development, and will involve expanding the recycling network by gradually transforming GREEN@COMMUNITY sites into round-the-clock self-service recycling facilities. 

Through the application of technology, valuable materials will be extracted from waste and turned into raw materials that can be used to make green products. A smart recycling network logistics system will be built to enhance cost-effectiveness and efficiency.

Tax concession

On the promotion of electric vehicle usage, Mr Chan said the first registration tax (FRT) for electric commercial vehicles, electric motorcycles and electric motor tricycles will continue to be waived in full until end-March 2028.

Given the maturity of the technology, levels of supply, the availability of different models, and lower prices, Mr Chan explained, the current FRT concession arrangement for electric private cars will not be extended beyond its expiry at the end of March this year. 

Striving for carbon neutrality

The finance chief said that, to proactively align with the national “dual carbon” targets and green and low carbon development strategies, the Government will strive to promote the development of green industries and the green transformation of enterprises. Green industries and green transformation require the support of capital, technology and talents, thereby offering enormous business opportunities to Hong Kong, he added. 

The Government is implementing Hong Kong’s Climate Action Plan 2050, striving to reduce the city’s carbon emissions by half from 2005 levels before 2035, and achieve carbon neutrality before 2050.

Among the projects approved under the $400-million Green Tech Fund, a university research team has pitched its newly developed industrial wastewater treatment technology to the Greater Bay Area and the Yangtze River Delta Region. Another approved item is a new fuel cell stack technology that is being promoted in collaboration with a hydrogen fuel cell enterprise.

On hydrogen development, Mr Chan said the Government is consulting the trade on the hydrogen certification framework with a view to establishing a certification system that connects with both the Mainland and the world.

It will host Hydrogen Week in May to foster international exchanges, and will organise Mainland tours for overseas experts to learn about the development of hydrogen applications.

Green finance

To consolidate and enhance Hong Kong’s status as an international green finance centre, the Government will take forward the implementation of the Hong Kong Sustainability Disclosure Standards. The Accounting & Financial Reporting Council is consulting the public on the proposed regulatory framework.

The Hong Kong Monetary Authority, meanwhile, will strive to develop green transition planning guidance for banks within this year.

The finance chief said the Government will support exploration, with the Mainland and international multilateral financial institutions, towards the establishment of a Hong Kong-based Green Technology Projects Accelerator.

Such an accelerator will provide incubation, acceleration, and empowerment services for green technology projects in Belt & Road regions, and serve as an innovative demonstration of Hong Kong’s green finance-related services.

The Government will also explore enabling financial institutions to obtain enterprises’ public utility usage data, with their consent, to enhance the efficiency of green financing and risk assessment.

Source: Hong Kong Information Services

Hong Kong will study the establishment of a one-stop multi-asset class post-trade securities platform, covering Mainland and Hong Kong equity and debt securities, and also plans to set up an asset platform for the issuance and settlement of digital bonds.  

In his 2026-27 Budget speech, Financial Secretary Paul Chan remarked that the post-trade platform will enhance cross-product and cross-boundary collateral connectivity. He said the digital asset platform, to be established this year, will enhance asset management efficiency.

The establishment of a post-trade securities platform is to be studied by the Hong Kong Exchanges & Clearing and the Hong Kong Monetary Authority’s CMU OmniClear Holdings Limited (CMU OmniClear), which is also working to establish links with central securities depositories in other regions to facilitate holdings of securities in the Central Moneymarkets Unit.

CMU Omniclear will also establish the digital asset platform. Once up and running, it will be expanded from digital bonds to include other digital assets and linked with other tokenisation platforms in the region.

In addition, Mr Chan explained that the Government is committed to developing non-traditional risk management, and has extended the Pilot Insurance-linked Securities Grant Scheme to 2028.

With regard to financial inclusivity, the Mandatory Provident Fund Schemes Authority (MPFA) will this year provide MPF “Full Portability” to employees whose employment commenced on or after 1 May 2025. Legislation will be introduced next year to extend the coverage to anyone whose employment began before that date.

To better protect employees’ MPF benefits, the MPFA proposes to enhance the process of recovering default contributions from employers. The Insurance Authority will also enhance the risk-based capital regime for insurance companies, and the industry will be required to adopt a standardised checklist for capital adequacy disclosure.

Moreover, to strengthen regulation of money lenders, the Government will next month announce measures to address excessive borrowing.

In terms of international co-operation, the Government is working closely with the Asian Infrastructure Investment Bank after it announced plans at the end of last year to set up an office in Hong Kong. In addition, Hong Kong will host the Asia-Pacific Economic Cooperation Finance Ministers’ Meeting for the first time this year, and will continue to stage financial mega events such as the Global Financial Leaders’ Investment Summit, the Wealth for Good in Hong Kong Summit, and the Hong Kong Fintech Week x StartmeupHK Festival.

Source: Hong Kong Information Services

Chief Executive John Lee today commented that the measures in the 2026-27 Budget are innovative and practical, adding that he is confident that Hong Kong’s economic momentum will continue its positive trend.

In a statement, Mr Lee said the Budget announced today put forward a series of measures that build on the direction of the Policy Address and actively dovetail with the national 15th Five-Year Plan. He outlined that the measures empower Hong Kong’s diversified development through innovation, technology and finance, cater to people’s needs improve livelihoods.

Mr Lee said that in pursuing two major aspects – namely “Artificial Intelligence+” and “Finance+”, the Budget will vigorously foster sectoral development, build Hong Kong into an international hub for high-calibre talent, strengthen the city’s core competitiveness, boost economic momentum, and both speed up and scale up the economy’s sustainable development.

He stressed that Hong Kong’s public finances had improved faster than expected, benefiting from a booming economy and increased tax revenue, coupled with the Government’s implementation of fiscal consolidation measures.

Taking full account of the Government’s financial situation, Mr Lee said, the Budget contains a range of practical measures, including increasing support for the public and small and medium-sized enterprises, enhancing medical services, addressing the needs of different social groups, and improving people’s livelihoods.

He also highlighted that the Budget maintains efforts to consolidate and optimise financial resources, and support infrastructure development, particularly in accelerating the development of the Northern Metropolis.

It also proposes a scaling up of bond issuances and the issuing of more bonds with longer terms, with a view to supporting infrastructure projects and driving diversified development of the local bond market.

The statement also emphasised that the Budget implements measures outlined in the Policy Address and is in accordance with the Government’s overall governance directions. Mr Lee said it leverages Hong Kong’s unique advantages of being connected to both the Mainland and the world under the “one country, two systems” principle in actively pursuing economic growth, advancing development, improving livelihoods, seizing new development opportunities, and better integrating into and serving the nation’s overall development.

“The Financial Secretary and I are confident that Hong Kong’s economic momentum will continue its positive trend.”

The Chief Executive called on all sectors of the community to support the Budget and work together to promote Hong Kong’s high-quality development.