Driving innovation and technology was a key focus of Hong Kong SAR's Financial Secretary Paul Chan's 2025-26 Budget. Identifying Artificial Intelligence (AI) as being at its core, Mr Chan said Hong Kong would leverage its competitive edge under the "one country,

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.

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.

This year’s Budget outlines measures for talent attraction and development, tax support, as well as a reinforced fiscal consolidation programme, which includes reducing the civil service establishment and implementing a pay freeze.

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.

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.