While the improved fiscal position – driven by a stock market boom – has sparked calls for more sweeteners in this year’s financial blueprint, Chan has sought to manage public expectations by repeatedly stressing the need to maintain adequate reserves to safeguard against geopolitical shocks and support long-term growth.
The financial secretary is expected to announce new measures to strengthen the city’s growing intellectual property (IP) economy and aerospace development, inject “substantial funds” into a new innovation hub near the border, and consolidate Hong Kong’s strategic roles outlined in the nation’s 15th five-year plan.
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Reporting by Jeffie Lam, Denise Tsang, Edith Lin, Jess Ma, Lo Hoi-ying, Oscar Liu, Connor Mycroft, Natalie Wong and Matthew Cheng.
