Remarks by CS on 2026-27 Budget (with video)
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Just now, the Financial Secretary delivered the 2026-27 Budget.
Over the past year, despite a complex and volatile external environment marked by global geopolitical tensions, our economy has demonstrated remarkable resilience. We achieved steady growth in 2025, and our fiscal position has improved significantly. This is a hard-earned result.
This year marks the beginning of the National 15th Five-Year Plan - a critical blueprint for national development over the next five years. Against this important backdrop, this Budget proactively aligns with the country's strategic directions, enhancing Hong Kong's better integration into and contribution to the overall national development. Some highlights of the Budget include:
First, stepping up innovation and technology (I&T) development. The Budget aligns with the National AI+ Initiative to promote deep integration of AI with different industries. Resources are injected to speed up the development of the Hetao Co-operation Zone (Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone) Hong Kong Park, San Tin Technopole and the Hung Shui Kiu Industry Park. AI training programmes will also be enhanced to improve AI literacy and application across the community.
Second, strengthening our status as an international financial centre. The Budget introduces a host of measures covering securities, bonds, offshore Renminbi business, asset management and digital assets. While reinforcing our traditional strengths, emerging sectors are also being explored. Mutual-market access will be enriched and Hong Kong's function as a key platform for "bringing in and going global" will be reinforced, thereby contributing to the country's goal of becoming a financial powerhouse.
Third, enhancing the competitiveness of our traditional industries. Amid external uncertainties, the Budget rolls out a series of measures, including attracting new and large-scale international exhibitions to Hong Kong. Smart transformation of the logistics industry will be promoted, and cargo sources will also be expanded with a view to consolidating Hong Kong's status as a trade, shipping and aviation hub.
Fourth, nurturing and attracting talent. Talent is key to economic development. The Budget supports the integrated development of education, technology and talent. It sets aside $10 billion in loans to support campus development in the Northern Metropolis University Town. While continuing to attract talent from the Mainland and overseas, efforts will be stepped up to nurture local talent in various sectors including I&T, finance and legal services, providing a solid foundation for Hong Kong's future development.
The Budget also takes care of people's livelihoods. While maintaining fiscal prudence, it introduced targeted measures to support members of the public and local enterprises. Resources have also been set aside to follow up on the long-term housing arrangements for those affected by the Tai Po fire, and to inject $300 million into the Urban Renewal Authority for the launch of an enhanced version of the "Smart Tender" service, with the aim of addressing the issue of bid-rigging in building repair works.
In summary, I think this is a comprehensive, pragmatic and forward-looking Budget. Under the leadership of the Chief Executive, the Government will continue to deploy resources effectively, promote economic development - particularly the accelerated development of the Northern Metropolis - and improve people's livelihoods. Together, we will seize new opportunities and sharpen Hong Kong's core competitiveness.
I call on all sectors of the community to give their full support to this Budget. Let's work together to promote Hong Kong's high-quality development and build an even better Hong Kong.
Thank you very much.
(Please also refer to the Chinese portion of the remarks.)
Ends/Wednesday, February 25, 2026
Issued at HKT 14:12
Issued at HKT 14:12
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Audio / Video
CS meets media