Budget proposals at a glance

Hong Kong Budget 2022-2023

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Economy

Issue HKD 10,000 electronic consumption vouchers in instalments to each eligible Hong Kong permanent resident and new arrival aged 18 or above to facilitate and stimulate local consumption. For persons registered for the electronic consumption vouchers issued in 2021, HKD 5,000 voucher will be first issued in April, while the remaining HKD 5,000 voucher will be issued in mid-year by instalment. For newly eligible persons after successful registration, an HKD 10,000 voucher will be issued in mid-year by instalment.
Issue inflation-linked retail bonds of not less than HKD 15 billion and Silver Bonds of not less than HKD 35 billion
Issue green bonds totaling USD 4.5 billion or equivalent and retail green bonds of not less than HKD 10 billion in the next financial year
Earmark HKD 1.26 billion for the Hong Kong Tourism Board to help revive the tourism industry
Implement a pilot scheme on infrastructure financing securitisation to offer infrastructure financing securitisation products with a total value of USD 450 million
Allocate HKD 10 million for launching a new round of the Fintech Proof-of-Concept Subsidy Scheme

Increase the funding allocated to the Hong Kong Growth Portfolio under the Future Fund by HKD 10 billion. HKD 5 billion will be allocated to set up a GBA Investment Fund and the remaining HKD 5 billion will be used to set up a Strategic Tech Fund to focus on investment opportunities in the GBA and invest in technology enterprises and projects respectively
Double the subsidy amount to HKD 440 million to strengthen support to the R&D activities of 16 State Key Laboratories and six Hong Kong Branches of Chinese National Engineering Research Centres in Hong Kong
Earmark HKD 600 million to conduct a comprehensive e-government audit
Earmark HKD 10 billion to further promote the development of life and health technology
Double the subsidy amount under the Technology Start-up Support Scheme for Universities to HKD 16 million
Set up a Digital Economy Development Committee to accelerate the progress of digital economy
Inject HKD 200 million into the Green Tech Fund

Set aside HKD 100 billion from the cumulative return of the Future Fund to set up a dedicated fund to expedite the implementation of infrastructure works relating to land, housing and transportation within the Northern Metropolis
Allocate HKD 1 billion to the Construction Industry Council for supporting manpower training
Increase recurrent allocation up to HKD 400 million as needed for enhancing training for medical professionals
Seek funding approval of about HKD 8.4 billion to carry out drainage improvement works to enhance the flood control capability and cope with climate change
Inject HKD 1.5 billion to the EV-charging at Home Subsidy Scheme to support the installation of EV charging-enabling infrastructure in more carparks of existing private residential buildings

Lower the threshold for the Public Transport Fare Subsidy Scheme to HKD 200 from May to October 2022
Strengthen support for e-learning, the Quality Education Fund has set aside HKD 2 billion to launch a three-year programme starting from this school year, under which subsidies will be provided to schools to purchase mobile computer devices and portable Wi-Fi devices for loan to needy students.
Grant each eligible residential electricity account a subsidy of HKD 1,000
Raise the subsidy ceiling of the Continuing Education Fund to HKD 25,000 and remove the upper age limit.
Earmark HKD 10 billion for the completion of the works to upgrade and increase healthcare teaching facilities of universities to provide the capacity to cope with about 900 additional healthcare training places

13 residential sites under the 2022/23 Land Sale Programme, railway property development, private development and redevelopment projects as well as the URA’s projects to provide about 18,000 units; 4 commercial sites to provide about 300,000 square metres of commercial floor area
Approximately 103 hectares of land to be made available in the coming five years for the production of over 57,000 units
Public housing - identified 350 hectares of land for the provision of about 330,000 public housing units to meet the demand in the coming 10 years
Private housing - completion of private residential units to average over 19,000 units annually in the five years from 2022 onward. The projected first-hand private residential unit supply for the next three to four years is 98,000 units
Transitional housing units - identified sufficient land for the provision of more than 17,000 units. Around 4,200 and 11,000 units are expected for completion this year and next year respectively
Inject HKD 1.2 billion into the Construction Innovation and Technology Fund to introduce more concessionary measures
Introduce more concessionary measures to encourage the adoption of Modular Integrated Construction to expedite housing supply