For Immediate Release
The Hong Kong General Chamber of Commerce (HKGCC) welcomes the 2026–27 Budget delivered today by Financial Secretary Paul Chan. The carefully crafted measures will support innovation and stimulate investment amid a challenging global economic environment, while managing fiscal pressures and investing in Hong Kong’s long-term, strategic development, in alignment with the 15th Five-Year Plan.
Despite previously expecting a deficit, an operating surplus has allowed the Budget to offer some relief with various support measures and subsidies to help a broad spectrum of society. At the same time, it also invests in growing strategic industries and supporting Hong Kong’s pillar sectors.
"With so many geopolitical uncertainties, it makes perfect sense for Hong Kong to explore new trade and economic options to offset these risks," said HKGCC Chairman Agnes Chan. "At the same time, the Financial Secretary has laid the foundations for our long-term growth and competitiveness by dovetailing with the Mainland’s 15th Five-Year Plan.”
Northern Metropolis Priorities
Key among these measures are increasing investments in AI and I&T, which the Chamber highlighted in its Budget Submission to the Government last month would be essential to drive Hong Kong’s productivity and economic transformation. These include accelerating development of the Northern Metropolis with a $10 billion injection into the San Tin Technopole, and a further $10 billion to accelerate land development and infrastructure in the Hetao Cooperation Zone Hong Kong Park. We are also pleased to see that the Financial Secretary supports wider adoption of public-private partnerships to accelerate development.
AI Transformation
To support emerging industries in I&T, including life and health technology, AI and robotics, the Government will set up a $10 billion I&T Industry-Oriented Fund. Aligning with this, the establishment of a new AI+ and Industry Development Strategy Committee to formulate policies driving the deep integration of AI across various sectors is a strategic development. The Chamber also supports plans to review and enhance tax arrangements for R&D expenditures.
In its Budget Submission, the Chamber also highlighted that the success of Hong Kong’s AI transformation hinges on having the right skills. So we strongly support plans to allocate $50 million to the public to boost their AI awareness and application skills, as well as the introduction of 27 undergraduate programmes related to STEAM fields, including AI, the creative industries, and data science. The Chamber also strongly backs Chan’s comments that AI brings new opportunities to society by popularizing the understanding and use of AI across all levels of society. “This is why the Chamber has been organizing over the past year a broad range of AI training courses -- from the fundamentals to advanced applications – for our members,” said Chan.
Boosting the Financial Sector
The Budget also outlined a wide range of measures to attract more firms to list in Hong Kong, as well as to encourage financial services firms to set up offices through various sweeteners like tax concessions and funds for emerging fields of strategic importance.
“Advancing Hong Kong’s internationalization of the renminbi by tapping into new markets and expanding cross-boundary yuan transactions, products, and services provides Hong Kong with the perfect platform for us to be a core pillar in this role under the nation’s Five-Year Plan,” said Chan.
Support for SMEs
The Chamber is pleased to see that the Government is taking measures to support companies impacted by changing consumption habits by strengthening the competitiveness of SMEs. This includes injecting $200 million into the Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund). We also welcome raising the ceiling of “Easy BUD” to $150,000 per application, and providing more targeted funding support for enterprises' applications.
The HKGCC is also pleased that the Budget includes proposals to ease the burden of taxpayers and provide rates concessions. “Putting more money in the public’s pockets can hopefully stimulate consumption, and increasing basic and other allowances for single parents and dependents can provide some financial relief,” said Chan.
This Budget provides a balanced response to the current economic landscape with policies that support various stakeholders, promote growth, and maintain long-term stability. The Chamber will continue working with the Government to advance these initiatives, support the broader business community, and reinforce Hong Kong’s status as a global financial and innovation hub.
Media inquiries: Please contact Ms Chloe Lee at 2823-1297 / [email protected]