on Information Services Department, Hong Kong SAR Government
Hong Kong SAR's Budget 2025-26: Driving Growth through Reform and Innovation
On February 26, 2025, Hong Kong's Financial Secretary, Paul Chan, presented the 2025-26 Budget, highlighting the opportunities brought by technological reform and AI development in reshaping industries. Chan stressed the importance of transformation and innovation for Hong Kong's economic growth, placing a strong emphasis on leveraging AI to empower existing industries and foster new ones.
The budget introduces the Hong Kong AI Research and Development Institute and aims to promote the city as a global hub for AI collaboration. Additionally, the "Manufacturing+" scheme will support traditional industries in modernizing their operations. The Northern Metropolis project is pivotal, focusing on expanding innovation and technology resources.
Tourism development and infrastructure investments remain priorities, with a new harborfront landmark under consideration. Fiscal measures include controlling government spending, increasing revenues, and revisiting land use policies to address office vacancy rates.
R. P.
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