As Hong Kong grapples with an estimated budget deficit of nearly HK$100 billion (US$12.8 billion), Financial Secretary Paul Chan Mo-po has urged government departments to tighten their purse strings ahead of announcing his annual budget on February 26. His call has sparked concerns among some observers about the possible impacts of budget cuts, including higher…
Tackling a ballooning deficit has become the overriding priority for Financial Secretary Paul Chan Mo-po. However, there is more to public finance than just balancing the books. From curbing public expenditure and boosting revenues to making bold economic reforms and fostering advancement within the national development framework, Chan is facing his toughest challenge yet when…
Hong Kong’s finance chief has vowed to press on with the Northern Metropolis megaproject by issuing bonds to fund the plan, insisting that the policy is a step in the right direction for the city’s long-term development despite a looming budget deficit. Financial Secretary Paul Chan Mo-po also said that the development of the scheme…
Hong Kong’s finance chief has vowed to press on with the Northern Metropolis megaproject by issuing bonds to fund the plan, insisting that the policy is a step in the right direction for the city’s long-term development, despite a looming budget deficit. Financial Secretary Paul Chan Mo-po also said that the development of the scheme…
America’s new tariffs on Chinese imports could trigger domestic inflation in the United States, potentially prolonging Hong Kong’s high interest rate environment and putting pressure on locally based businesses, the city’s finance chief warned on Sunday. Financial Secretary Paul Chan Mo-po also said city authorities were considering adjusting a HK$2 (26 US cents) concessionary fare…
America’s new tariffs on Chinese imports could trigger domestic inflation in the United States, potentially prolonging Hong Kong’s high interest rate environment and putting pressure on locally based businesses, the city’s finance chief has warned. Financial Secretary Paul Chan Mo-po also said on Sunday that city authorities were considering adjusting a HK$2 (26 US cents)…
China’s finance ministry reaffirmed it will increase public spending with a greater focus on boosting consumption to support the economy next year, ahead of growth headwinds from looming US tariffs. China will “expand the magnitude of fiscal spending and accelerate the spending pace,” according to a statementBloomberg Terminal published Tuesday following a two-day national conference…
China signaled further stimulus measures including raising its budget deficit ratio in 2025 at a key economic meeting that sets policy priorities for the coming year. Top officials led by President Xi Jinping also vowed to deliver rate cuts and lower the reserve requirement for banks during a two-day huddle of the Central Economic Work…
Bold signals from China’s policy makers this week have led to some high expectations for the stimulus to come. On the back of strong commitments from the Communist Party’s decision-making body to boost growth with a “more proactive” fiscal policy and a shift to a “moderately loose” monetary stance, economists are saying China may raise…
French stocks enjoyed a brisk relief rally this week after months of underperformance. But this could turn out to be a blip as France’s political crisis is set to drag on while the country’s stretched public finances will keep long-term investors at bay. In a year when most of the world’s major stock markets handed…