Hong Kong Aims for Strong Economic Growth, Prioritizing Science and Tech Innovation in New Budget
Summary
Hong Kong aims to sustain strong economic growth from 2026 to 2030, focusing on science and technology innovation as a key growth driver, with fiscal surpluses projected despite high capital expenditure.
Key Points
- Hong Kong projects economic growth of 2.5-3.5% in 2026 and an average of 3% annually from 2027 to 2030.
- The government budget anticipates operating surpluses from 2026-27 to 2030-31 despite planned capital deficits due to infrastructure spending.
- Science and technology innovation is emphasized as the new engine for economic growth in the upcoming five-year period.
- Fiscal reserves are expected to grow gradually to over HKD 700 billion, supported by increased bond issuance for infrastructure projects.
