Hong Kong’s Paul Chan cuts spending in budget, plots AI path to future growth
Hong Kong’s finance chief has unveiled a belt-tightening budget seeking to tap new sources of revenue and ease a HK$87.2 billion (US$11.2 billion) deficit, starting with a pay freeze for all public servants, a downsizing of the civil service by 10,000 positions and a cut in education spending. Citing the benefits of the “one country,…