Financial Secretary delivers 2026-27 budget speech

Financial Secretary Paul Chan Mo-po on Wednesday delivered his budget speech to the Legislative Council.

This year’s budget mainly focuses on several areas including promoting technology and artificial intelligence development, deepening financial co‑operation in the Greater Bay Area, consolidating the SAR’s position as a gold trading hub and strengthening the market system.

New initiatives include a new light festival show, first registration tax concessions for electric private cars, as well as Wang Fuk Court fire support programmes.

The secretary started his speech by noting the tax revenue has increased over the past year due to a booming stock and capital market.

He forecasted the economic growth for this fiscal year would be 2.5% to 3.5%, slightly lower than last year's 3.5%.

It also covers measures for trade, logistics, aviation, tourism, culture and sports, creative industries, intellectual property trading and nurturing talent, funding for tourism projects and training schemes, land and housing policies, as well as Wang Fuk Court fire support programmes.