CE's statement on 2025-26 Budget
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The Financial Secretary today delivered the third Budget of the current-term Government and put forward a series of practical and effective measures on Hong Kong's economic development and public fiscal consolidation. The Budget will reinforce the Government's financial strength, and create new momentum and new advantages for Hong Kong's economic development.
The Budget put forward various measures which are consistent with the directions of the Policy Address, including nurturing new quality productive forces to strengthen the development of innovation and technology and artificial intelligence; speeding up the development of the Northern Metropolis and the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone, fully leveraging the strategic position of "three centres and a hub", further nurturing and attracting talent, upgrading industries with advantages, and accelerating the development of Hong Kong's economy.
The Budget proposes pragmatic measures to improve public finances, focusing primarily on strictly controlling government expenditures, supplemented by suitably increasing revenue, to steadily restore fiscal balance while taking into account the actual social situation and Hong Kong's competitiveness. At the same time, it aims to leverage market forces to promote infrastructure projects through innovative and diversified development models, and government bonds will be issued to finance related projects.
In a complicated and volatile external environment, I am confident that Hong Kong will be able to seize opportunities and continue to give full play to its unique advantages under the "one country, two systems" principle of having the strong support of the country while maintaining unparalleled connectivity with the world, and further strengthening its connection with both the Mainland and the world. We will proactively integrate into and align with the country's national development strategies, foster accelerated economic growth and improve people's livelihood. Like the Financial Secretary, I have full confidence in Hong Kong's development and future. I appeal to all sectors of the community to support this Budget.
Ends/Wednesday, February 26, 2025
Issued at HKT 13:30
Issued at HKT 13:30
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