Hong Kong’s government has rolled out its 2026-2027 budget, signaling resilience amid global shifts. Unveiled on February 25 at 11 a.m., the purple-covered document symbolizes the city’s steadfast economic momentum.
Financial Secretary Paul Chan Mo-po highlighted last year’s robust performance, driven by surging foreign trade, booming private consumption, and sharp rises in fixed investments. The economy grew by 3.5 percent, marking the third consecutive year of expansion.
Looking ahead, Chan projects 2.5 to 3.5 percent growth for the current year, with underlying inflation at 1.8 percent. ‘Our economy is on solid footing,’ he stated, crediting diversified strengths.
In a bold move, Chan announced the formation of the ‘AI+ and Industrial Development Strategy Committee,’ which he will chair. This initiative aims to harness artificial intelligence for industrial transformation. Experts, academics, businesses, and industry park firms are invited to collaborate, with initial priorities on life sciences, health, and tangible AI applications.
The budget underscores Hong Kong’s pivot toward innovation-driven growth. As new technologies emerge rapidly, these strategies position the SAR as a global leader in AI adoption. Fixed investment incentives and consumption boosts will further fuel momentum.
Economists praise the forward-thinking approach. ‘AI integration could redefine Hong Kong’s competitive edge,’ noted one analyst. With external pressures mounting, internal vigor remains key to sustained prosperity.
This budget not only charts fiscal policy but also a vision for technological leadership, ensuring Hong Kong thrives in an AI-powered future.