Budget proposals at a glance

Economy

Issue HKD 5,000 electronic consumption vouchers to each eligible Hong Kong permanent resident and new arrival aged 18 or above in two instalments
Issue no less than HKD 50 billion of Silver Bond and HKD 15 billion of retail green bonds in the next financial year
Introduce a mechanism to provide facilitation for companies domiciled overseas for re-domiciliation to Hong Kong
Provide an additional funding of HKD 550 million to the Hong Kong Trade Development Council to assist enterprises in opening up markets
HKD20 million reserved to expedite strategic studies and exchanges of the high-end maritime service industry, and expand the scale of the Hong Kong Maritime Week
Over HKD 250 million to be spent on mega events
About HKD 300 million reserved for staging more mega events, international meetings, incentive travels, conventions and exhibitions in Hong Kong

HKD 500 million earmarked to launch a Digital Transformation Support Pilot Programme, to assist SMEs in applying ready-to-use basic digital solutions
HKD 200 million to enhance the operation of the “iAM Smart” platform to improve user experience
HKD 3 billion earmarked to enhance basic research in frontier technology fields such as artificial intelligence and quantum technology
Over HKD 260 million reserved for Cyberport to nurture smart living start-ups
HKD 50 million to expedite development of the Web3 ecosystem

Inject HKD 200 million into the Maritime and Aviation Training Fund to support manpower training
HKD 75 million for conducting studies on establishing the Building Testing and Research Institute, constructing an advanced construction industry building, and strengthening the supply chain of Modular Integrated Construction modules
Set aside HKD 350 million for subsidising in-harbour ferry operators to construct and test electric ferries and related charging facilities
Additional HKD 62 million for food waste collection to cover more premises, and extending the food waste collection trial scheme for public rental housing estates
Introduce a new Capital Investment Entrant Scheme: applicants may reside and pursue development in Hong Kong after making investment at a certain amount in the local asset market, excluding property

Set aside HKD 100 million to strengthen support for women’s development
Enhance support for pre-school children with special needs - allocate an additional annual recurrent expenditure of about HKD 170 million to regularise Tier 1 Support Services
Grant each eligible residential electricity account a subsidy of HKD 1,000
Encourage employment of elderly employees: increase the tax deduction for the Mandatory Provident Fund voluntary contributions made by employers for their employees aged 65 or above, from 100% to 200%
Inject an additional HKD 500 million into the Chinese Medicine Development Fund

Additional HKD 100 million to provide on-the-job training allowance to trainees who have enrolled in construction related programmes
12 residential sites under the 2023/24 Land Sale Programme, railway property development, private development and redevelopment projects as well as the URA’s projects to provide about 20,000 units; 3 commercial sites and 3 industrial sites to provide about 200,000 square metres of commercial floor area and 170,000 square metres of industrial floor area respectively
Public housing - identified sufficient land for the provision of about 360,000 public housing units
Private housing - completion of private residential units to average over 19,000 units annually in the 5 years from 2023 onwards. The expected first-hand private residential unit supply for the next 3 to 4 years is about 105,000 units
Secure land for the production of no less than 72,000 private housing units in the coming 5 years
Transitional housing units - about 14,000 additional units will be coming on stream in the next two years