Hong Kong will soon announce guidelines on the development and application of artificial intelligence (AI), the city’s innovation chief has said. Secretary for Innovation, Technology and Industry Sun Dong revealed the move on Sunday after last week saying more than 70 government departments would use a locally developed ChatGPT-style AI tool powered by DeepSeek’s data…
Hong Kong’s finance chief has rejected suggestions that his proposal to charge drivers as they cross the border into mainland China will hinder integration efforts, but he has left the door open to discussions on the fee amount. Paul Chan Mo-po insisted on Saturday that the proposed fee for drivers of private vehicles, one of…
This live blog has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. New users who download our updated app get a seven-day free trial. Hong Kong Financial Secretary Paul Chan Mo-po is delivering his budget speech at 11am on Wednesday and is expected to announce…
Hong Kong will follow a strategy of “fiscal consolidation”, with the government “strictly controlling” public spending to address the deficit even as it seeks to improve services related to residents’ livelihoods, the finance chief has said. Three days before he is set to deliver his 2025-26 budget speech, Financial Secretary Paul Chan Mo-po on Sunday…
The removal of property curbs a year ago has failed to support home prices, as the market value of private residential properties in Hong Kong was down by HK$480 billion (US$61.7 billion) since February 2024, Centaline Property said on Thursday. The withdrawn measures included the Buyer’s Stamp Duty that targeted non-permanent residents and a New…
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…
Beijing’s point man on Hong Kong affairs has met the finance chief and seven other senior officials to hear their plans on the economy and financial services while inspecting two special cooperation zones operated by the city and neighbouring Shenzhen. The government said on Monday that Xia Baolong, director of the Hong Kong and Macau…
Hong Kong’s HK$2 fare scheme for elderly residents should be adjusted by offering those aged 60 to 65 only limited usage, a top government adviser has said, while the city’s finance chief has described the concession as “unfeasible” in the long run. Lam Ching-choi, a member of the city’s top advisory body the Executive Council,…
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…