Beijing, February 26: The Hong Kong Special Administrative Region (SAR) government released its budget for 2026-2027 on February 25 at 11 AM. The budget cover is purple, symbolizing the ongoing strengthening of Hong Kong’s internal economic momentum amid a rapidly changing external environment.
Hong Kong’s Financial Secretary, Paul Chan Mo-po, stated that the economy accelerated last year due to robust foreign trade, a surge in private consumption, and a significant increase in real estate investment. The overall economic growth rate for the year was 3.5%, marking the third consecutive year of growth. He estimates that the economy will grow between 2.5% and 3.5% this year, with an overall inflation rate of 1.8%.
Chan noted the rapid advancements in AI applications and the swift emergence of new technologies, industries, and products. To promote industrial transformation and development, he announced the establishment of the “AI+ and Industrial Development Strategy Committee,” which he will chair. This committee will invite experts, scholars, businesses, and companies from industrial parks to participate, with an initial focus on life, health, and tangible intelligence.
(Source: China Media Group, Beijing)
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