The Chief Secretary for Administration delivered remarks on the 2026-27 Budget

2026-02-25 14:12 Last Updated At：14:35

Remarks by CS on 2026-27 Budget (with video)

Following are the remarks by the Chief Secretary for Administration, Mr Chan Kwok-ki, at a media session at the Legislative Council Complex after the Financial Secretary delivered his Speech on the 2026-27 Budget today (February 25):

Just now, the Financial Secretary delivered the 2026-27 Budget.

Over the past year, despite a complex and volatile external environment marked by global geopolitical tensions, our economy has demonstrated remarkable resilience. We achieved steady growth in 2025, and our fiscal position has improved significantly. This is a hard-earned result.

This year marks the beginning of the National 15th Five-Year Plan - a critical blueprint for national development over the next five years. Against this important backdrop, this Budget proactively aligns with the country's strategic directions, enhancing Hong Kong's better integration into and contribution to the overall national development. Some highlights of the Budget include:

First, stepping up innovation and technology (I&T) development. The Budget aligns with the National AI+ Initiative to promote deep integration of AI with different industries. Resources are injected to speed up the development of the Hetao Co-operation Zone (Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone) Hong Kong Park, San Tin Technopole and the Hung Shui Kiu Industry Park. AI training programmes will also be enhanced to improve AI literacy and application across the community.

Second, strengthening our status as an international financial centre. The Budget introduces a host of measures covering securities, bonds, offshore Renminbi business, asset management and digital assets. While reinforcing our traditional strengths, emerging sectors are also being explored. Mutual-market access will be enriched and Hong Kong's function as a key platform for "bringing in and going global" will be reinforced, thereby contributing to the country's goal of becoming a financial powerhouse.

Third, enhancing the competitiveness of our traditional industries. Amid external uncertainties, the Budget rolls out a series of measures, including attracting new and large-scale international exhibitions to Hong Kong. Smart transformation of the logistics industry will be promoted, and cargo sources will also be expanded with a view to consolidating Hong Kong's status as a trade, shipping and aviation hub.

Fourth, nurturing and attracting talent. Talent is key to economic development. The Budget supports the integrated development of education, technology and talent. It sets aside $10 billion in loans to support campus development in the Northern Metropolis University Town. While continuing to attract talent from the Mainland and overseas, efforts will be stepped up to nurture local talent in various sectors including I&T, finance and legal services, providing a solid foundation for Hong Kong's future development.

The Budget also takes care of people's livelihoods. While maintaining fiscal prudence, it introduced targeted measures to support members of the public and local enterprises. Resources have also been set aside to follow up on the long-term housing arrangements for those affected by the Tai Po fire, and to inject $300 million into the Urban Renewal Authority for the launch of an enhanced version of the "Smart Tender" service, with the aim of addressing the issue of bid-rigging in building repair works.

In summary, I think this is a comprehensive, pragmatic and forward-looking Budget. Under the leadership of the Chief Executive, the Government will continue to deploy resources effectively, promote economic development - particularly the accelerated development of the Northern Metropolis - and improve people's livelihoods. Together, we will seize new opportunities and sharpen Hong Kong's core competitiveness.

I call on all sectors of the community to give their full support to this Budget. Let's work together to promote Hong Kong's high-quality development and build an even better Hong Kong.

Thank you very much.

(Please also refer to the Chinese portion of the remarks.)

The Chief Executive issued a statement on the 2026-27 Budget

CE's statement on 2026-27 Budget

The Chief Executive, Mr John Lee, today (February 25) issued the following statement on the 2026-27 Budget:

The Financial Secretary today delivered the fourth Budget of the current-term Government and put forward a series of innovative and practical measures to further implement the direction of the Policy Address to actively dovetail with the National 15th Five-Year Plan, empower Hong Kong's diversified developments through innovation, technology and finance, and cater to the people's needs while improving their livelihood. In pursuing the two major areas of "AI+" and "Finance+", the Budget will vigorously foster the enhancement of sectoral development, build Hong Kong into an international hub for high-calibre talent, further strengthen the city's core competitiveness, boost economic momentum, and resolutely speed up and scale up the sustainable development of our economy.

Benefiting from a booming economy and increased tax revenue, coupled with the Government's effective implementation of fiscal consolidation, Hong Kong's public finances have improved faster than expected. Taking full account of the Government's financial situation, the Budget has introduced a range of practical measures, including suitably increasing support for the public and small and medium-sized enterprises, enhancing medical services, addressing the needs of different social groups, and improving people's livelihood.

The Budget also proposes to maintain the efforts in consolidating and optimising the use of financial resources, continue supporting infrastructure development, particularly in accelerating the development of the Northern Metropolis. The Budget also proposes a rise in the scale of bond issuances and issuing more bonds of longer terms, with a view to support infrastructure projects and to promote the diversified development of the local bond market.

The Budget implements various effective measures outlined in the Policy Address and in accordance with the governance directions of the Government. It leverages Hong Kong's unique advantages of being connected to both the Mainland and the world under the "one country, two systems" principle in actively pursuing economic growth, advancing development, improving people's livelihood, seizing new development opportunities, and better integrating into and serving the overall national development. The Financial Secretary and I are confident that Hong Kong's economic momentum will continue its positive trend. I call upon all sectors of the community to support this Budget and work together to promote Hong Kong's high-quality development.