Hong Kong’s fiscal reserves will amount to HK$1.16 trillion by the end of the financial year on March 31, the finance chief says. Photo: AFP

Paul Chan’s budget sounds alarm over need for Hong Kong to adapt to survive economic headwinds

  • Financial Secretary Paul Chan warns that the city’s surplus will shrink significantly over the next five years
  • Analysts agree that reform of Hong Kong’s economic structure is long overdue
Topic |   Hong Kong Budget 2019-2020

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Hong Kong’s fiscal reserves will amount to HK$1.16 trillion by the end of the financial year on March 31, the finance chief says. Photo: AFP
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Financial Secretary Paul Chan delivers his 2019-2020 budget address in Legco. Photo: Sam Tsang

Hong Kong budget 2019: surplus expected to shrink to HK$16.8 billion but overall reserves hit new high of HK$1.22 trillion

  • Financial Secretary Paul Chan presented his budget on Wednesday morning
  • He announced HK$150 billion worth of initiatives and funding in two-hour speech
Topic |   Hong Kong Budget 2019-2020

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Financial Secretary Paul Chan delivers his 2019-2020 budget address in Legco. Photo: Sam Tsang
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