Simon Leung has been without a full-time job since his contract ended in March 2024, after the Hong Kong government cut its budget for NGOs by 7 per cent. The social work event coordinator, who is in his late forties, now makes ends meet through gig jobs. With word spreading that the city’s coming budget…
At this time of year, Financial Secretary Paul Chan Mo-po’s top priority is finalising the Hong Kong government’s budget for 2026-27, balancing requests for incentives and welfare against calls for a return to fiscal prudence. For decades, budget speeches have followed a familiar structure: a review of past performance, near- and medium-term forecasts, support measures…
Hong Kong’s economy expanded by 3.5 per cent in 2025, marking the city’s third consecutive year of growth and surpassing an earlier forecast of 3.2 per cent. Advance estimates released by the Census and Statistics Department on Friday also showed gross domestic product (GDP) in the fourth quarter increased by 3.8 per cent compared with…
Hong Kong will not pursue carbon-based taxation in its decarbonisation efforts, as maintaining a low and simple tax framework is central to the city’s competitive advantage, the financial chief has told a panel at the World Economic Forum. Speaking at the “How to Finance Decarbonization?” panel in Davos, Switzerland, Financial Secretary Paul Chan Mo-po said…
Hong Kong’s finance chief has promoted the city’s regulatory regime for digital assets as “responsible and sustainable” at the annual World Economic Forum in Davos. Delivering opening remarks at a closed-door workshop on Tuesday, Financial Secretary Paul Chan Mo-po said finance and technology were “mutually reinforcing”, but a balanced approach was needed to support their…
Hong Kong will sign an accord with Shanghai next week to establish a cross-border gold trade clearing system, a move the financial chief says will bolster the city’s push to become an international gold trading hub. Financial Secretary Paul Chan Mo-po revealed on Sunday that the city and the Shanghai Gold Exchange would sign a…
Hong Kong’s capital market is likely to experience significant fluctuations this year owing to intensifying geopolitical risks, the city’s finance chief has warned, stressing the need for caution in financial management. Six weeks before the government unveils its annual budget, Financial Secretary Paul Chan Mo-po pledged to consider whether there is scope to adjust child…
Hong Kong’s heavy investment in public works will keep the capital account in deficit, highlighting the need for bond issuances to fund critical infrastructure and long-term development, the finance chief has said as he revealed the annual budget will be delivered on February 25. Financial Secretary Paul Chan Mo-po also said on Sunday that core…
Hong Kong’s finance chief has confirmed an early operating account surplus driven by strong financial market performance and stock trading stamp duty revenue, as he addressed calls for more elderly welfare measures at the first public forum for the coming budget. Financial Secretary Paul Chan Mo-po vowed on Saturday to make “utmost” efforts to address…
Incoming lawmakers should prioritise helping the Hong Kong government advance policy reforms and strengthen integration with national development, the outgoing Legislative Council president has said as he prepares to step down. Andrew Leung Kwan-yuen also said on Saturday that the new lawmakers would need to assist the government in devising a prudent and pragmatic budget,…