The Budget proactively aligns with the nation’s 15th Five-Year Plan and promotes “AI+” and “Finance+” industrial development to enhance economic growth and build Hong Kong into a leading talent hub, said Chief Executive John Lee Ka-chiu on Wednesday.
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Lee said the Budget further implements policy directions outlined in his Policy Address. Benefiting from an improving economy, higher tax revenues and effective fiscal consolidation, Hong Kong’s public finances have improved faster than expected, he added.
Taking full account of the government’s fiscal position, the Budget introduces a series of practical measures to strengthen support for residents and small and medium-sized enterprises, optimize medical services and address the needs of different sectors of the community.
Lee said the Budget emphasizes better integration and more efficient use of financial resources to accelerate infrastructure development, particularly in the Northern Metropolis.
It proposes increasing bond issuance — especially long-term bonds — to finance infrastructure projects and diversify the local bond market.
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“It leverages Hong Kong's unique advantages of being connected to both the mainland and the world under the ‘one country, two systems’ principle in actively pursuing economic growth, advancing development, improving people’s livelihood, seizing new development opportunities, and better integrating into and serving the overall national development,” Lee said.
Chief Secretary for Administration Eric Chan Kwok-ki said that despite a complex external environment and global tensions, Hong Kong’s economy has demonstrated resilience, achieving steady growth and improved public finances.
He described the Budget as “comprehensive, pragmatic and forward-looking,” underscoring the government’s commitment to deploying resources effectively to promote economic growth. He called on all sectors of society to support high-quality development.
Chan also noted that the Budget aligns with the national strategic blueprint, facilitating Hong Kong’s deeper integration into national development.
He highlighted key initiatives including strengthening innovation and technology in line with the nation’s “AI+” strategy, investing in projects such as the Hetao Co-operation Zone Hong Kong Park, San Tin Technopole and Hung Shui Kiu Industry Park, as well as consolidating the competitiveness of traditional industries.
