The Hong Kong Special Administrative Region is now undertaking its first five-year planning. This is a monumental step as the city has never done this kind of planning before. In fact, for a long time, long-term planning — in an overall and integrated sense — was considered unnecessary and counterproductive by both the government and…
new video loaded: Canada Announces Investment Fund to Distance Economy From the U.S. transcript Back transcript Canada Announces Investment Fund to Distance Economy From the U.S. Prime Minister Mark Carney announced the Canada Strong Fund, which will focus on investments in the country’s infrastructure. The sovereign wealth fund seeks to make the Canadian economy less…
new video loaded: Soaring Fuel Prices Squeeze China’s Frugal Truckers transcript Back transcript Soaring Fuel Prices Squeeze China’s Frugal Truckers Many long-haul truckers in China have a tight budget and live frugally on the road, sleeping and cooking in their vehicles. Now, the pain at the pump is forcing some drivers to rethink their lives….
Hong Kong’s new budget is positioned to foster high-quality, inclusive growth through innovation and finance. Ahead of projections, a surplus of HK$2.9 billion (US$370.8 million) is now expected, largely due to the stronger-than-expected stock market and tax receipts. Reflecting a sound fiscal approach and forward thinking, the 2026-27 budget will maintain an operating surplus and…
A “relatively flexible” legal framework for Hong Kong’s Northern Metropolis will be introduced to the Legislative Council in late March to fast-track the megaproject’s development, a minister has said. Secretary for Development Bernadette Linn Hon-ho shared the update on the planned framework on Sunday, days after the city’s latest budget sought to allocate HK$30 billion…
A new government committee tasked with reviewing Hong Kong’s tax policies will consider updating them to allow for levies on the virtual asset sector and selected emerging industries, while providing incentives to attract business and investment, the South China Morning Post has learned. The SCMP learned of the development on Wednesday as experts called for…
Financial Secretary Paul Chan Mo-po has announced an array of industry spending and relief measures in Hong Kong’s budget, in response to the city’s quicker-than-expected return to a surplus of HK$2.9 billion (US$370.8 million) in its consolidated account. In a two-hour address to the Legislative Council on Wednesday, Chan pledged substantial government support and investment…
This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. Hong Kong’s finance chief, Paul Chan Mo-po, will unveil his latest budget on Wednesday, revealing an earlier-than-expected operating surplus after three years of deficits. While the improved fiscal position – driven by a stock…
Hong Kong’s coming annual budget must address critical bottlenecks in technology and talent attraction to pave the way for the city’s first five-year development framework in line with national priorities, according to observers. The budget, to be delivered by Financial Secretary Paul Chan Mo-po on Wednesday, is more than a fiscal exercise. It is viewed…
Hong Kong’s residential property market made gradual and steady gains in the Year of the Snake, with the momentum set to continue in the Year of the Horse, according to the city’s largest real estate agencies. “The Year of the Snake marked the end of three years of decline and a strong rebound fuelled by…