Hong Kong's budget should prioritize those in need

As Hong Kong's financial secretary prepares his budget speech, he should recall his initial focus on using the city's wealth to aid the needy.

This opinion piece, published in the South China Morning Post on February 23, 2026, urges Hong Kong's financial secretary to remember his initial commitment to using the city's wealth to support those in need as he prepares the budget speech. The article suggests that the coinciding starts of the Lenten season and Ramadan may encourage less selfishness and more contemplation.

Keywords listed include Xi Jinping, John Tsang, Paul Chan, Lent, stock market, budget surplus, Hong Kong, Lunar New Year, Hong Kong Jockey Club, Legislative Council, Ramadan, and budget speech, indicating a broader context for Hong Kong's fiscal discussions, though the provided excerpt focuses on aiding the vulnerable.

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Hong Kong Financial Secretary Paul Chan presents the 2026 budget at the Legislative Council, highlighting AI and infrastructure investments amid fiscal surplus charts and public criticism over no cash handouts.
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Hong Kong budget stresses long-term investments amid public criticism

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Hong Kong Financial Secretary Paul Chan unveiled the 2026 budget on Wednesday, emphasizing investments in artificial intelligence and infrastructure while facing criticism for the absence of direct cash handouts to residents. The budget projects a surplus and includes a rare transfer from the Exchange Fund.

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.

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Hong Kong Financial Secretary Paul Chan Mo-po will deliver the 2026-27 budget on Wednesday, unveiling measures to accelerate economic recovery. The budget features a purple cover symbolizing strengthening economic momentum amid a volatile external environment. It arrives against heightened geopolitical tensions, including a new 15 per cent global tariff announced by US President Donald Trump, with expectations for sweeteners tempered by economists' warnings on public finances.

インベスト香港のラウ・ハイセン事務局長は、中東紛争が勃発する中、香港はその「投資の安全な避難所」としての地位を活用して外資を誘致すべきであり、ドバイをハブとしている企業はリスク分散のために香港にシフトしていると述べた。この呼びかけは、ポール・チャン・モーポー財務長官が北京訪問を続けている最中に行われた。

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Hong Kong's government will allocate at least 10 per cent budget increases to innovation and technology, intellectual property, and investment promotion departments in the 2026-27 financial year, despite curbs on recurrent spending. The Environment and Ecology Bureau and public broadcaster face sharp cuts of 70 and 28 per cent, respectively. The Home and Youth Affairs Bureau will expand its civil service workforce by 16 per cent, the largest increase among all departments.

A group of scholars, professionals and former government officials has established the Hong Kong Future Economy Institute in Hong Kong to address a talent gap in the shrinking field of local studies. The institute pledges to conduct research on housing planning, population policy and policymaking impact assessments. Its founding director says universities' focus on global topics has led to fewer researchers on pressing local issues.

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大統領府の高官は、中東危機が長引く場合、政府が今年後半にさらなる補正予算を検討する可能性があると述べた。洪翼杓(ホン・イクピョ)政務首席秘書官は、現在審議中の26.2兆ウォンの補正予算案が6月3日の地方選挙を前に政治的影響力を狙ったものだとする野党の主張を否定した。同氏は経済成長予測の下方修正と燃料価格の上昇を理由に挙げた。

 

 

 

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