Financial Secretary Paul Chan outlines the 2025-2026 Budget today (Feb. 26).

Chan said that the Northern Metropolis is crucial to the social and economic development of Hong Kong, providing impetus for the development of the I&T industry, enabling more in-depth participation in the development of the GBA, while creating quality career development opportunities and living environment for our people. 

The government will continue to accord priority in providing resources to this initiative.  Major industries include:

I&T: The Hong Kong Park of the HetaoShenzhen-HongKong Science and Technology InnovationCo-operationZone (Hetao Co‑operation Zone), together with San Tin Technopole, will provide large tracts of I&T land to leverage complementary advantages with the Shenzhen Park of the HetaoCo-operationZone.  "We will also introduce new policies to facilitate cross-boundary flows of innovative elements."

High-end Professional Services and Modern Logistics: With the Shenzhen Bay Bridge and the HongKong-ShenzhenWestern Rail Link connecting with Qianhai in Shenzhen under planning, Hung Shui Kiu / Ha Tsuen New Development Area (HSK/HT NDA) is positioned to become a high-end professional services hub for local, Mainland and overseas enterprises. "Under the 'East in East out, West in West out' strategy for cross-boundary goods movement between Hong Kong and Shenzhen, we will also plan logistics land strategically in the vicinity of boundary control points."

Tertiary Education: "To complement the development of Hong Kong's I&T industry and to promote Hong Kong as an international hub for tertiary education, we have reserved about 90 hectares of land in the NM for developing the Northern Metropolis University Town, including the third medical school."

Culture, Sports and Tourism: Apart from reserving land for cultural and sports facilities, the NM preserves traditional villages and historical and cultural resources. "We will develop culture, sports and tourism industries, including promoting eco-tourism, in accordance with the unique characteristics of different localities."

According to Chan, the Hong Kong Park will enter into operational phase this year.  The first three buildings of Phase 1 are about to complete and the first batch of tenants from life and health technology, AI, data science and other pillar industries will begin to move in this year.

"I have earmarked HK$3.7 billion to expedite the provision of infrastructure and public facilities of Phase 1 development of the Hong Kong Park. Meanwhile, we will identify suitable land parcels for invitation of private development proposals this year with a view to expediting the development by leveraging market forces.  Upon completion of the whole Hong Kong Park, its annual contribution to Hong Kong's economy is expected to reach HK$52 billion, and about 52,000 job opportunities will be created," he said.

As for railway development, the construction works of Phase 1 of the Northern Link (NOL), i.e. Kwu Tung Station, have commenced for target completion in 2027.  Advance works for Phase 2 have also commenced to tie in with the target completion of NOL Main Line in 2034, according to Chan.

In addition, Chan said the government is working with the Shenzhen authorities to jointly take forward two cross‑boundary railway projects. The investigation and design study of the Hong Kong‑Shenzhen Western Rail Link (Hung Shui Kiu – Qianhai) project and the detailed planning and design of the Northern Link Spur Line are expected to commence this year.

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