An opinion piece in the South China Morning Post suggests that Hong Kong's 2026-27 budget speech should clarify how the city's economic direction aligns with global and national trends, defining its place in future industries. It urges Financial Secretary Paul Chan Mo-po to explain the macroeconomic rationale behind Hong Kong's new industrial policy: large-scale investment in innovation and technology to broaden the economy.
This opinion piece, published on February 8, 2026, notes that Hong Kong's past budget speeches have typically focused on 'sweeteners' like tax cuts and subsidies. However, this year, Chan should enrich the format by explaining the macroeconomic rationale for investing in high-risk, cutting-edge technologies—something unthinkable during the British colonial era and largely avoided in the special administrative region's early years.
The article emphasizes strengthening Hong Kong's role as a global financial, trading, and shipping hub—areas that have benefited from strong central government support—while building its innovation and technology ecosystem. It also calls for highlighting national priorities that will shape Hong Kong's economic future, such as the 15th five-year plan, space economy, low-altitude economy, and artificial intelligence.
Referencing economists like Paul Krugman, the piece mentions entities including the China Aerospace Science and Technology Corporation, iSpace, AdaSpace, and LandSpace. It suggests Hong Kong integrate into the Belt and Road Initiative, BRICS cooperation, and US-China tech dynamics. Through these steps, the city can achieve 'inspirational' development, aligning with Xi Jinping's vision and projects like the BeiDou Satellite System.
As an opinion, this reflects perspectives on Hong Kong's role in national strategy but is not an official policy announcement.
