Hong Kong’s Paul Chan cuts spending in budget, plots AI path to future growth
Finance chief eyes new revenue sources while freezing pay for public servants, cutting civil service positions and reducing education spending.
Hong Kong's latest budget aims to cut spending to tackle record HK$87b deficit
Hong Kong Finance Secretary Paul Chan has unveiled a "belt-tightening" budget aimed at ending the city's series of record-high deficits. The city is projected to mark its third consecutive financial year in the red of more than HK$87 billion — exceeding initial estimates.
Hong Kong unveils new budget to restore fiscal balance, foster new growth drivers
Paul Chan, financial secretary of the Hong Kong Special Administrative Region (HKSAR) government, delivers the 2025-26 budget in south China's Hong Kong, Feb.
Budget 2025: how is Paul Chan planning to balance Hong Kong’s books?
Finance secretary lays out new and increased fees to boost revenue and a string of cutbacks to reduce government’s expenditure.
Hong Kong expects modest growth in 2025 as Paul Chan looks to fight deficit
HONG Kong Financial Secretary Paul Chan said the economy will grow modestly this year, as he looks to shrink the city’s deficit while countering headwinds from a slowing Chinese economy and rising trade tensions with the US.
These Are the Winners and Losers From Hong Kong’s 2025 Budget
Hong Kong’s technology enterprises are set to benefit from the city’s annual budget as the government plans to roll out investments in artificial intelligence research.
Hong Kong budget looks to tackle deficit blowout amid economic headwinds
Hong Kong is expected to focus on steps to curb spending in its annual budget on Wednesday, as it seeks to tackle a fiscal deficit likely to have widened to double the city's target amid rising global economic uncertainty and a weak property market.
LIVE: Hong Kong Budget 2025
Facing bumper deficits and a faltering economy, finance chief Paul Chan sought to make savings as he delivered the 2025 Budget at the legislature on Wednesday. ・HK logs estimated HK$87.2bn deficit, 7% spending cuts over coming 3 years.
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AI at core of developing new quality productive forces in Hong Kong: financial secretary
While delivering the 2025-26 budget at the HKSAR's Legislative Council, Paul Chan said that AI is at the core of developing ...
Hong Kong pledges $127.67 million to create AI institute
Hong Kong said on Wednesday that it is setting aside $127.67 million to create an artificial intelligence research institute ...
Hong Kong is to cut thousands of civil service jobs and invest in AI to tackle a rising deficit
Hong Kong will cut thousands of civil service jobs and boost spending in artificial intelligence as it seeks to tackle an ...
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Hong Kong Slashes Civil Service Jobs, Invests in AI to Combat Deficit
Hong Kong will cut thousands of civil service jobs and increase investments in artificial intelligence to address its growing ...
Hong Kong to launch scheme to facilitate tech listing applications
Hong Kong will launch a scheme to facilitate listings of tech companies on the stock exchange, the latest move to boost the ...
Hong Kong Expects GDP Growth of 2% to 3% in 2025
HONG KONG (Reuters) - Hong Kong's economy is expected to grow 2% to 3% this year after growth of 2.5% in 2024, as authorities ...
Budget By Hong Kong SAR's Financial Secretary: Accelerating Development Through Reform And Innovation Media Outreach Newswire APAC
HONG KONG SAR - Media OutReach Newswire - 26 February 2025 - Paul Chan, Financial Secretary of the Hong Kong Special ...
Hong Kong could rake in billions from basketball betting but experts have doubts
Government has invited the Hong Kong Jockey Club to submit a proposal on expanding its sports gambling options to include ...