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…
Hong Kong does not plan to get another transfer from its Exchange Fund in the next five years, the finance chief has said, citing a new medium-range forecast explaining why the rare move will not be repeated. Financial Secretary Paul Chan Mo-po elaborated on his fiscal plan on Saturday, after his budget announcement to withdraw…
After consecutive operating deficits, the operating account has returned to profit. Simultaneously, the consolidated account records a HK$2.9 billion (US$370.6 million) surplus for 2025/26, signalling stability. This turnaround is driven largely by a buoyant stock market and a stabilising property sector, reviving stamp duty revenues and investment income. This provides fiscal space for the government…
Hong Kong’s finance chief has assured the public that the city can manage its debt after proposing the issuance of more bonds to accelerate the development of the Northern Metropolis, expressing confidence in the long-term investment returns from the megaproject. Financial Secretary Paul Chan Mo-po sought to reassure the public during a radio programme on…
Nine residential sites will be offered to developers in the coming financial year to provide about 6,650 flats under a Hong Kong land sale programme, after authorities highlighted the property market had stabilised in the latest budget. Combined with other land sources, such as urban redevelopment, private development and projects linked to railway properties, the…
A combination of a strong initial public offering (IPO) market and bond sales has helped put Hong Kong’s financial health back in the black sooner than expected, with analysts expecting a robust pipeline of listings to be key to sustaining the city’s surplus. In his budget speech on Wednesday, Financial Secretary Paul Chan Mo-po said…
Hong Kong authorities are open to supporting universities in issuing bonds to fund the development of the proposed University Town in the Northern Metropolis, with lawmakers calling for a dedicated approval and credit rating mechanism. Financial Secretary Paul Chan Mo-po signalled the government’s intention during a meeting of the Legislative Council’s Finance Committee on Thursday,…
Hong Kong’s financial chief has defended his latest budget against public criticism over the lack of sweeteners, stressing that the government must balance its finances with long-term investments for the city’s benefit. Financial Secretary Paul Chan Mo-po said on Thursday he would brief credit-rating agencies and the International Monetary Fund next month on his budget,…
Hong Kong’s finance chief on Wednesday lived up to his credentials as a chartered accountant when he produced a surprisingly robust budget, flush with surpluses and full of initiatives to be funded through substantial means at his disposal. One significant initiative is a rare move to dip into the Exchange Fund, the government’s main investment…
The Hong Kong government has produced a consolidated surplus earlier than expected, its first in four years, ahead of a rare transfer into coffers from the Exchange Fund and other sources. Wednesday’s budget pointed to fund transfers of HK$127.83 billion (US$16.35 billion) and an 11.1 per cent jump in government revenues contributing to another surplus…