Hong Kong’s public finances are crumbling. For decades, the city’s fiscal health relied heavily on land sales. Between 2012 and 2022, land sales contributed an average of 14 per cent of government revenue. However, in 2024-25, land sales plunged to just 1 per cent of revenue, or about HK$6.6 billion (US$848 million), a stark contrast…
Financial Secretary Paul Chan Mo-po’s announcement, in his latest budget speech, of Hong Kong’s aspiration to become an international exchange and cooperation hub for artificial intelligence (AI) is bold and timely. As one of the world’s most connected cities, Hong Kong has the potential to play a pivotal role in the global AI conversation. However,…
Financial Secretary Paul Chan Mo-po’s announcement, in his latest budget speech, of Hong Kong’s aspiration to become an international exchange and cooperation hub for artificial intelligence (AI) is bold and timely. As one of the world’s most connected cities, Hong Kong has the potential to play a pivotal role in the global AI conversation. However,…
A leading French aeronautic services company plans to set up an aircraft parts processing and trading centre in Hong Kong’s Northern Metropolis, which will generate thousands of jobs and open up a lucrative industry as the first of its kind in Asia, the Post has learned. A source said on Thursday that Financial Secretary Paul…
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…
Some of the commercial sites of the Northern Metropolis could be rezoned for residential and other purposes according to the changing market situation, to give the megaproject more flexibility, Hong Kong’s financial chief has said. Financial Secretary Paul Chan Mo-po made the remarks on Sunday, two days after Secretary for Development Bernadette Linn Hon-ho said…
Hong Kong, SAR–(Newsfile Corp. – February 27, 2025) – Hong Kong SAR’s Financial Secretary Paul Chan delivered his 2025-26 Budget yesterday (February 26), with a clear path and initiatives to rein in the deficit, while accelerating the city’s development and maintaining its competitive edge of a low and simple tax regime. “The key is managing…
Hong Kong’s small and medium-sized enterprises (SMEs) are seeking funding support and easier loan access, as rising costs have landed at the top of their list of worries, according to DBS Bank (Hong Kong). Operational costs had become the top concern for 60 per cent of the city’s SMEs, according to the bank’s survey of…
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…