Financial Secretary Paul Chan stated today (March 1) on a radio program that the government's financial accounts must not only achieve a balance but also strive for a surplus to support infrastructure investment.
He noted that the current land revenue is taking time to recover, and due to the need to accelerate the development of the Northern Metropolis, the non-operational accounts will show a deficit.
Chan mentioned that infrastructure investment in the coming years will remain at a high level, with annual expenditure increasing from last year's HK$90 billion to the current HK$120 billion. To support this expenditure, the government will consider moderately issuing bonds.
He emphasized that Hong Kong's future economic development will not only rely on finance and trade but also require fostering new growth areas, particularly in innovation and technology industries.
"The Northern Metropolis will be a key area for attracting businesses and will develop in tandem with Shenzhen, serving as a core area for land and housing supply. Therefore, the government will expedite its development."
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