Topic

Hong Kong Budget 2016-2017i

John Tsang Chun-wah delivers his ninth budget speech against the backdrop of a slowing Hong Kong economy and growing tensions in society. While promising to offer a relief package to boost domestic consumption and help industries affected by the economic doldrums, the financial secretary is planning to scrap waivers for public housing rents. He will also unveil measures to implement Chief Executive Leung Chun-ying’s blueprint to boost the development of innovation and technology. 

Advertisement
Advertisement
Advertisement

A bleak outlook for Hong Kong’s economic health was outlined in Financial Secretary John Tsang Chun-wah’s ninth budget speech, with growth slowing to between 1 to 2 per cent this year as the effects of a slump in tourism and exports are felt.