Hong Kong Business News

Chief Secretary Chan Kwok-ki today said the 2024-25 Budget steadfastly seeks progress by adopting targeted and effective strategies to formulate measures, while taking into account the sustainability of public finance.

Speaking at a media session after the Financial Secretary delivered the 2024-25 Budget, Mr Chan said that with the concerted effort of the Government and society at large, Hong Kong has been gradually regaining its growth momentum after the COVID-19 pandemic.

“That said, as an externally oriented and open economy, Hong Kong continues to be affected by the complex and volatile external environment and unstable global economic recovery. Together, we have overcome various challenges along the way,” Mr Chan noted.

“With this in mind, I consider that the latest Budget steadfastly seeks progress while ensuring stability,” he added.

The Chief Secretary also pointed out that the series of short, medium and long-term measures in the Budget aim to develop Hong Kong's economy and improve people's livelihood as well as strengthen Hong Kong's unique advantages of enjoying the strong support of the motherland while being closely connected to the world.

“All in all, I fully support this year's Budget. I hope the Legislative Council will scrutinise and approve the appropriation bill as soon as possible. Let us continue to lead Hong Kong to advance from stability to prosperity and break new ground.”

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