The new budget plan of Hong Kong Special Administrative Region (SAR) government outlines the city's ambitions to expand gold storage capacity and strengthen its global gold trading system, while accelerating new industrialization through increased technology funding, officials explained.
The Hong Kong government released its 2026-27 budget on Wednesday.
"On the storage side, we are going to increase our storage capacity in our Hong Kong gold vault to be beyond 2,000 tons within the coming three years. And against this backdrop, we are also hoping to see how we can further leverage the regional development in our own country. What we have is on the international side, Hong Kong is on the National Front. We are going to build this gold clearing system and also the gold market. The element that we're working on is to have a product ecosystem. Because after all for this product to thrive, it's not just about gold storage, in particular, we want to have more financial products, be it about ETFs or about futures that we need to leverage the gold storage in Hong Kong," said Hui Ching-yu, Secretary for Financial Services and the Treasury of Hong Kong SAR.
The budget plan also prioritizes the development of new quality productive forces and industrialization, a goal that aligns with China's broader national strategy, said Secretary for Innovation, Technology and Industry Sun Dong.
"The Hong Kong SAR government will steadfastly pursue innovation-driven development, steer the development of new quality productive forces, and proactively integrate into and serve the national development strategy. We will expedite new industrialization development in Hong Kong," he said.
Hong Kong new budget plan prioritizes gold storage, trade, industrialization: officials
From augmented reality (AR) cycling glasses to autonomous boats and drone deliveries, sci-tech applications are making spring outings in China more appealing, convenient and smarter, boosting the country's tourism sector.
The ancient city wall in Xi'an, the provincial capital of Shaanxi in northwest China, has deployed smart autonomous boats carrying tourists smoothly through the moat beneath the wall. Some passengers take photos of the scenery, while others brew tea on board, enjoying the relaxation in spring.
"I think the smart boats are more convenient, and the speed is just right. It allows people to focus more on the scenery," said a tourist surnamed Mr. Wang.
On the ancient wall, visitors renting bicycles can simultaneously rent AR-enabled smart glasses. As they ride, the glasses automatically trigger audio guides for sights in view, making every detail of the wall more vivid and engaging.
"Since launching the smart boats and AR cycling glasses, tourists on average stay 30 percent longer than before," said Zhu Yuan, head of the cultural and tourism development of the Xi'an City Wall management committee.
In Hundred Springs Yuanshui Park in Xingtai City, north China's Hebei Province, visitors stroll among the springs while experiencing immersive attractions such as glass-free giant-screen theaters and cinemas with six degrees of freedom (6-DOF) motion systems, exploring the area's historical evolution.
"It feels like flying over the springs and a sea of flowers. The perspective is very novel and stunning. It's my first time experiencing sightseeing this way, and it's very interesting," said a visitor.
In the Huangshan scenic area in east China's Anhui Province, technology is also enhancing the visitor experience, with drones offering delivery services in parks and on-demand unmanned vending vehicles providing instant services.
Sci-tech services add new appeal to spring tourism
