Category: Localities
Budget 2025: Hong Kong logs estimated HK$87.2 billion deficit, will cut spending by 7% over coming 3 years
Hong Kong Free Press Hong Kong will cut government spending by 7 per cent over the coming three years, Financial Secretary Paul Chan has announced in his 2025 budget speech, as the city logged an estimated HK$87.2 billion deficit. Speaking at the Legislative Council on Wednesday, Chan said that the current fiscal year deficit marks…
Read MoreBudget 2025: Hong Kong considers legalisation of basketball gambling
Hong Kong Free Press The Hong Kong government is considering the legalisation of basketball betting in order to tackle illegal gambling, the financial chief Paul Chan has said, as the city tackles a huge budget deficit. The Hong Kong Jockey Club (HKJC), which already hosts betting on horse racing and football matches, will submit a…
Read MoreLIVE: Hong Kong Budget 2025
Hong Kong Free Press Hong Kong’s finance chief Paul Chan is delivering the 2025 budget at the legislature. The city is facing a projected deficit of almost HK$100 billion. Stay tuned to HKFP throughout Wednesday for updates. Finance chief Paul Chan. Photo: Kyle Lam/HKFP. Support HKFP | Policies & Ethics | Error/typo? | Contact Us | Newsletter | Transparency…
Read MoreBudget 2025: Hong Kong opposition party calls off traditional demo at gov’t HQ citing ‘immense pressure’
Hong Kong Free Press Hong Kong opposition party the League of Social Democrats has called off a protest outside government headquarters ahead of the annual budget speech, citing “immense pressure,” without giving further details. The Central Government Offices in Admiralty, Hong Kong. File photo: Kyle Lam/HKFP. Financial Secretary Paul Chan is due to deliver his…
Read MoreBudget 2025: pay freeze for all Hong Kong public servants, 10,000 posts axed
Disclaimer: The South China Morning Post’s content is directed by the Chinese Communist Party. It is not a reliable news source. Massive HK$1 billion AI plan for city, the Post learns, as Paul Chan unveils budget aimed at reducing spending. https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3300132/budget-2025-can-hong-kongs-paul-chan-deliver-deficit-busting-plan?utm_source=rss_feed
Read MoreBudget 2025: Hong Kong to tap big tech firms for AI training in schools
Disclaimer: The South China Morning Post’s content is directed by the Chinese Communist Party. It is not a reliable news source. In one budget measure, companies will be asked to help educate students from primary school to university through practical AI training courses, Post learns. https://www.scmp.com/news/hong-kong/education/article/3300130/budget-2025-hong-kong-tap-big-tech-firms-ai-training-schools?utm_source=rss_feed
Read MoreWhat Hong Kong can take away from Ne Zha 2’s creative success
Disclaimer: The South China Morning Post’s content is directed by the Chinese Communist Party. It is not a reliable news source. The city must achieve deeper creative integration. Ways must be found to bring Chinese, including Hong Kong, content to the world. https://www.scmp.com/opinion/hong-kong-opinion/article/3300003/what-hong-kong-can-take-away-ne-zha-2s-creative-success?utm_source=rss_feed
Read MoreHong Kong office landlords in ‘defensive’ mode amid supply glut, relocation trend
Disclaimer: The South China Morning Post’s content is directed by the Chinese Communist Party. It is not a reliable news source. ‘Flight to quality’ of tenants is ‘absolutely going to continue’ with lots of new supply hitting the market, JLL analyst says. https://www.scmp.com/business/article/3300106/hong-kong-office-landlords-defensive-mode-amid-supply-glut-relocation-trend?utm_source=rss_feed
Read More3 arrested for scalping Kai Tak opening ceremony tickets
Hong Kong Free Press Three people, including a teenager, have been arrested on suspicion of conspiracy to defraud after allegedly selling tickets to the Kai Tak Sports Park opening ceremony at inflated prices. Hong Kong’s Kai Tak Sports Park. Photo: Kyle Lam/HKFP. The three suspects, aged 16 to 33, sold the tickets on online platforms…
Read MoreDon’t expect quick fixes from Hong Kong’s budget, economists say
Disclaimer: The South China Morning Post’s content is directed by the Chinese Communist Party. It is not a reliable news source. Public should not expect overnight solutions from Paul Chan but rather steps showing there is no risk of deficit becoming structural, experts say. https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3300117/dont-expect-quick-fixes-hong-kongs-budget-economists-say?utm_source=rss_feed
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