Industry leaders and analysts on Wednesday expected the adoption of electric vehicles to slow down significantly, given that the "One-for-One Replacement Scheme" would not be extended beyond its expiry date at the end of March. Mark Webb-Johnson, th...

Financial Secretary Paul Chan on Wednesday cited market maturity as the main reason for scrapping concession arrangements for private electric vehicles. The government will stop providing higher first registration tax concessions for those who repl...

The Hong Kong Tourism Board welcomed on Wednesday the government's support for its work and for driving the long-term development of the industry. This came after Financial Secretary Paul Chan said in his budget speech that a HK$1.66 billion subvent...

The Urban Renewal Authority (URA) is set to receive HK$300 million for rolling out an upgraded tendering platform to tighten scrutiny of contractors for renovation projects, with sources saying a third of the money will be used to hire professionals ...

Finance chief Paul Chan on Wednesday revealed plans to transfer HK$150 billion from the Exchange Fund to support the development of the Northern Metropolis and other infrastructure projects. He said in his budget speech the plan is to put the money ...

Financial Secretary Paul Chan announced on Wednesday a series of measures including tax concessions and allowances to ease the economic pressure on people and businesses. The personal assessment for both salaries and profits taxes will be reduced by...

Hong Kong will host a new light festival-themed show to replace the decades-old daily light show, according to Financial Secretary Paul Chan. The move is among a raft of events announced in the latest budget aimed at further boosting Hong Kong's app...

Financial Secretary Paul Chan on Wednesday said Hong Kong would raise stamp duty for residential property transactions valued at HK$100 million or more to up to 6.5 percent, in a bid to raise additional revenue. Currently, the stamp duty stands at 4...

Financial Secretary Paul Chan said the government will conduct the Pay Trend Survey to help determine civil service pay for the 2026-27 financial year. Last year, Chan used his budget speech to announce a pay freeze for government workers to help ba...

Financial Secretary Paul Chan announced on Wednesday the government would not extend the concession arrangement for electric private cars after it expires at the end of March. Introduced in 2018, the "One-for-One Replacement" Scheme aims to encourag...

Financial Secretary Paul Chan said in his budget speech on Wednesday that the government is committed to attracting more enterprises to set up shop in Hong Kong. He said a slew of policy tools, including land grant arrangements, financial subsidies...

Banking giant HSBC said on Wednesday that net income fell in 2025 as it ploughed ahead with sweeping overhauls to streamline its structure and cut costs. Profit attributable to shareholders came in at US$21.1 billion, down from US$22.9 billion in 20...

The government has earmarked HK$52 million to set up an "Intellectual Property Academy" as part of measures to boost the city's intellectual property (IP) sector. Financial Secretary Paul Chan on Wednesday said the two-year pilot scheme, launched b...

Financial Secretary Paul Chan on Wednesday announced that he will chair a new "Committee on AI+ and Industry Development Strategy" as part of efforts to ensure all levels of society understand and make use of artificial intelligence. In his budget s...

The government is seeking to pour in a total of HK$20 billion for the development of two major tech hubs in Hong Kong, the finance chief announced on Wednesday. Delivering his latest budget, Financial Secretary Paul Chan said officials would ask fo...

Hong Kong is poised to play a pivotal role in several key areas of national development as the city aligns itself with the goals of the country's 15th Five-Year Plan, Financial Secretary Paul Chan said. In his budget speech on Wednesday, Chan outlin...

The SAR government posted its first budget surplus in four years thanks to what Financial Secretary Paul Chan described as a buoyant equity market and accelerated economic growth. He said in his budget address on Wednesday that the government's cons...

Financial Secretary Paul Chan on Wednesday delivered his 2026-27 budget speech to the Legislative Council. The theme of this year's budget is "Driving High-quality, Inclusive Growth with Innovation and Finance". Chan started by saying that over the...

Police said a 23-year-old female police officer assigned to the patrol sub-unit of Kwun Tong district was found dead at Kwun Tong Police Station on Wednesday morning. Her body was discovered around 7.45am in the station's loading and unloading area...

The MTR Corporation on Wednesday warned of longer journey times during morning peak hours on the Tseung Kwan O Line due to problems with platform screen doors at North Point Station. That followed an announcement shortly before 9am that the doors we...