Hong Kong said on Wednesday that it is setting aside $127.67 million to create an artificial intelligence research institute that will conduct research and development.

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.

From axing 10,000 government jobs to raising the airport departure tax , here is a look at Financial Secretary Paul Chan’s plan to balance Hong Kong’s books.

Hong Kong's government workers will bear the brunt of the biggest cuts in the finance chief's bid to balance the books as the city braces itself for a fourth straight year of deficit.

Hong Kong will cut thousands of civil service jobs and boost spending in artificial intelligence as it seeks to tackle an increasing deficit.

Hong Kong will cut thousands of civil service jobs and increase investments in artificial intelligence to address its growing deficit. Finance Secretary Paul Chan announced a 7% reduction in government spending and emphasized AI as a key sector for future growth.