Finance chief eyes new revenue sources while freezing pay for public servants, cutting civil service positions and reducing education spending.

Paul Chan, Financial Secretary of the Hong Kong Special Administrative Region unveiled his 2025-26 Budget today (February 26). He noted that while geopolitical situation might bring risks, technology reform and artificial intelligence (AI) development are remoulding the global landscape,

Hong Kong will press on with Northern Metropolis project and push for development of AI, finance chief Paul Chan pledges at Post budget forum.

Hong Kong will cut thousands of civil service jobs and boost spending in artificial intelligence as it seeks to tackle an increasing deficit, authorities said Wednesday. Finance Secretary Paul Chan said during a budget speech that there would be a “cumulative reduction” of government recurrent expenditure by 7% from now until 2027-2028.

Driving innovation and technology was a key focus of Hong Kong SAR's Financial Secretary Paul Chan's 2025-26 Budget. Identifying Artificial Intelligence (AI) as being at its core, Mr Chan said Hong Kong would leverage its competitive edge under the "one country,

Hong Kong will press on with Northern Metropolis project and push for development of AI, finance chief Paul Chan pledges at Post budget forum.

Artificial intelligence will be at the heart of the government's efforts to turn the city into an Innovation and Technology (I&T) and science centre

Hong Kong said on Wednesday that it is setting aside $127.67 million to create an artificial intelligence research institute that will conduct research and development.

Finance chief eyes new revenue sources while freezing pay for public servants, cutting civil service positions, reducing education spending.

Technology and innovation chief Sun Dong on Sunday said policies related to artificial intelligence (AI) mentioned in last month's budget show the

BEIJING: As artificial intelligence rapidly transforms the global economic landscape, Hong Kong must and is ready to harness technological innovation to fuel its growth, Financial Secretary Paul Chan Mo-po said in the Sunday blog.

Artificial intelligence is helping improve trading efficiency, however, a balance with cost efficiency is crucial for financial institutions to stay competitive.