Hong Kong 2026-27 Budget: Innovation and Financial Growth in Focus

The Financial Secretary of Hong Kong, Paul Chan, presented the 2026-27 Budget with initiatives to bolster economic growth and innovation. The budget theme, "Driving High-quality, Inclusive Growth with Innovation and Finance," reflects a focus on aligning with China's 15th Five-Year Plan.

Chan announced a fiscal surplus of $2.9 billion, reversing an anticipated deficit, and highlighted a 3.5% economic expansion in 2025. Plans include establishing an AI+ Committee, promoting AI integration, and setting up the International Clinical Trial Academy.

To further industrialize AI, resources will be allocated to create a national manufacturing innovation center. The financial sector will see reforms in tax regimes and digital asset services. Additionally, $1.66 billion will support tourism, while sports and cultural projects receive increased funding. Despite global uncertainties, Hong Kong aims for sustainable growth via innovation.