This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing.Hong Kong finance chief Paul Chan Mo-po unveiled his latest budget on Wednesday, revealing an earlier-than-expected operating surplus after three years of deficits.
While the improved fiscal position – driven by a stock market boom – had sparked calls for more sweeteners in this year’s financial blueprint, Chan had sought to manage public expectations by repeatedly stressing the need to maintain adequate reserves to safeguard against geopolitical shocks and support long-term growth.
The financial secretary announced new measures to strengthen the city’s global financial standing, innovation and technology development. The city will also boost its growing intellectual property (IP) economy and aerospace development, inject substantial funds into a new innovation hub near the border, and consolidate Hong Kong’s strategic roles outlined in the nation’s 15th five-year plan.
Follow our live updates on the budget to see how it will affect you.
FULL EVENT: Hong Kong budget address 2026
FULL EVENT: Hong Kong budget address 2026
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Reporting by Jeffie Lam, Denise Tsang, Edith Lin, Jess Ma, Lo Hoi-ying, Oscar Liu, Connor Mycroft, Natalie Wong and Matthew Cheng.