Hong Kong Budget Prioritizes High-Quality Growth, Axes Property Cooling Measures

In a move to foster long-term economic development, the Hong Kong budget focuses on technology and green initiatives, while eliminating property market restrictions to make housing more accessible.

Financial Secretary Paul Chan Mo-po's budget forgoes traditional sweeteners, focusing instead on investments in digital and green initiatives amid a record deficit.
The budget scraps consumption vouchers and subsidies, while capping salary tax reductions, aiming to steer growth away from traditional sectors.
Immediate axing of all property curbs aims to make flats more accessible and stimulate the property market, despite potential short-term challenges.
Government plans to tap into the Future Fund and issue bonds to finance operations and mega projects, despite concerns over increasing debt ratios.
Experts see the budget as a step towards high-quality development, with potential long-term benefits for Hong Kong's economy.