Hong Kong’s administration presented the 2026-2027 budget on February 25 morning, wrapped in purple to evoke strengthening internal economic forces amid rapid external changes.
In his speech, Secretary for Financial Services and the Treasury Paul Chan Mo-po reviewed robust 3.5 percent GDP growth last year. Key drivers included vibrant foreign trade, private consumption upswing, and fixed-asset investment acceleration—securing three years of consecutive gains.
For the coming year, growth is eyed at 2.5-3.5 percent, with total inflation at 1.8 percent. These figures reflect prudent optimism grounded in real achievements.
Chan spotlighted AI’s rise, announcing his chairmanship of the ‘AI+ and Industrial Development Strategy Committee.’ It will pioneer strategies for AI-led industrial evolution, creating enabling conditions. Broad participation from scholars, firms, and industry parks is sought, starting with foci on life, health, and embodied AI.
Supporting measures include fiscal supports for tech R&D, talent programs, and ecosystem building. This holistic approach aims to propel Hong Kong into next-gen industries.
Analysts applaud the integration of AI into core policy. ‘It’s a masterstroke for future-proofing the economy,’ one said. With consumption and investment on the rise, the outlook brightens.
The budget reaffirms Hong Kong’s adaptability, blending tradition with innovation. As global tech races intensify, these steps ensure the SAR remains at the forefront, driving prosperity for years ahead.