HONG KONG – The 2025-2026 Budget, set to be delivered on Feb 26 by Financial Secretary Paul Chan Mo-po, is attracting significant attention as Hong Kong grapples with multiple challenges including geopolitical tensions, slower-than-expected economic recovery and a graying population.
With an expected fiscal deficit of around HK$100 billion for the 2024-25 fiscal year, the focus will be on what measures the government will take to strike a balance between stimulating economic recovery and promoting sustainable development.
With declining housing prices, supportive measures are anticipated to shore up the city’s property market. Another area of highlight could be tourism, as Hong Kong is pulling out all stops to attract visitors. Other issues of concern include public services expenditure, Guangdong-Hong Kong-Macao Greater Bay Area collaboration, financial development, etc.
Greater participation in mainland market
The Second Agreement Concerning Amendment to the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) Agreement on Trade in Services will be implemented on Mar 1.
Aimed at lowering barriers for Hong Kong enterprises and professionals seeking access to the mainland market, the amendment agreement will introduce new liberalization measures across several service sectors where Hong Kong enjoys competitive advantages, such as financial services, construction, and tourism services.
Measures include removing or relaxing curbs on equity shareholding and business scope in establishing enterprises, relaxing qualification requirements for Hong Kong professionals providing services, and easing restrictions on Hong Kong’s export of services to the mainland market.
Fight of elite table tennis players
The 34th ITTF-ATTU Asian Cup brings together 64 of Asia's elite table tennis players to compete at the Shenzhen Universiade Sports Center from Feb 19 to 23.
The event features men's and women's singles competitions, with 32 players in each category. Visitors can cheer on Chinese mainland stars such as Wang Chuqin and Sun Yingsha, alongside Japanese aces Tomokazu Harimoto, and Mima Ito.
Hong Kong player Wong Chun-ting also represents the special administrative region at the competition.
The competition heats up with the 1/8 and quarter-final rounds set for Saturday, leading up to Sunday's final showdown where the champions will be crowned.
