Blog

Transformation and Innovation

The Budget for the 2025/26 financial year will be delivered this Wednesday. Thank you all for sharing your valuable insights and suggestions for the Budget over the past period.

Making good use of public resources is crucial for driving sustainable social development, enhancing the quality of life and improving efficiency. In light of the fiscal deficit resulting from various challenges in recent years, we will introduce an enhanced "Fiscal Consolidation" strategy in the upcoming Budget. This approach aims to maintain and improve public services while rigorously controlling public expenditures. We will appropriately increase revenue, having regard to Hong Kong's competitiveness and the "user-pays" principle. Besides, we will leverage other public resources and market forces to accelerate development and invest in the future.

The international environment is complex and ever-changing, presenting us with new opportunities, particularly those driven by technological advancements that foster innovative applications and growth. By stimulating economic growth, facilitating the transformation and upgrading of traditional industries, and nurturing new economic momentum, we can continuously adapt and gain competitive advantages in a dynamic landscape, thereby infusing vitality into sustainable economic development.

The colour of this year's Budget cover is Lake Blue, symbolising a vast ocean of opportunities as we ride the waves of high-quality economic development. The lake is filled with boundless possibilities. Even in the face of occasional storms, with the steadfast support of our country and the collective efforts of various sectors in Hong Kong, we remain confident and hopeful about our future.

February 23, 2025