$100 billion deficit 'not a big deal for HK,' says Beijing official

10-03-2025 11:23 HKT

Deputy Director of the Hong Kong and Macau Affairs Office Wang Linggui has brushed off the nearly HK$100 billion fiscal deficit facing the SAR government.

The official also hinted at expanding the multi-entry visa scheme, which would enable more mainland tourists to travel to Hong Kong.

His comments came as the annual session of the Chinese People’s Political Consultative Conference (CPPCC), the nation’s top political advisory body, concluded on Monday.

Speaking to reporters, Wang, who is also a CPPCC member, said Hong Kong’s economy is not weak compared to other developed economies, pointing to the city’s GDP growth of over 2 percent last year.

“A deficit of HK$100 billion is not a big deal for an economy as large as Hong Kong,” Wang added.
Noting that Beijing rolled out some 100 measures benefitting Hong Kong, the official signalled more to come in 2025 and beyond.

He was sure that the multi-entry Hong Kong visas, which currently only apply to Shenzhen residents, will be expanded to other cities in the future.

Acknowledging previous “unpleasant incidents” arising from personnel flow control, Wang called on Hongkongers to prepare themselves so that they can better get along with mainland visitors.

“Hong Kong compatriots and citizens should mentally prepare themselves. Why? Because past unpleasant events might now be handled more appropriately. After all, blood is thicker than water, and everyone will certainly get along well.”

Wang also affirmed Hong Kong’s role as the country’s “super-connector”, saying its next step should be strengthening connections with the world while enjoying strong support of the motherland.

Qiu Hong, a former deputy director of Beijing’s liaison office in Hong Kong, said the HK$100 billion deficit faced by the SAR is a challenge on its path forward, but it can be overcome with unity among Hongkongers.

She added that new Legislative Council members, to be elected later this year, should be proactive in serving Hong Kong and the country.

(Jamie Liu)