Budget proposals at a glance

Strive for high-quality development

HKD 100 million to promote sustainable development of financial services
Issue HKD 50 billion of Silver Bond and HKD 20 billion of retail green bonds and infrastructure bonds
Inject HKD 500 million to launch “E-commerce Easy”, and provide up to HKD 1 million per enterprise for implementing e-commerce projects in the Chinese Mainland
Stamp duties payable on the transfer of real estate investment trust (REIT) units and the jobbing business of option market-makers will be waived
Allocate over HKD 1.09 billion to strengthen tourism development and organise events
Earmark HKD 100 million to boost mega-event promotions for the next 3 years
Allocate HKD 65 million to concessionary measures for Hong Kong-registered ships that have attained a high rating under international standards of decarbonisation

HKD 3 billion earmarked to launch a Frontier Technology Research Infrastructure Support Scheme
HKD 2 billion to support the presence of the InnoHK research cluster in Hetao
Allocate HKD 3 billion to support local universities, R&D institutes and enterprises to leverage its computing power
HKD 6 billion to expedite establishment of life and health technology research institutes for universities
Launch the New Industrialisation Acceleration Scheme and provide enterprises with up to HKD 200 million on a matching basis
Allocate HKD 300 million to launch business version of “iAM Smart”
An additional fund of HKD 100 million on providing digital training courses and technical support to the elderly

Inject HKD 1.4 billion into Film Development Fund
Inject HKD 2.9 billion into CreateSmart Initiative
Allocate HKD 12 million to prepare for regulatory arrangements for local patent agent services
HKD 100 million reserved to support self-financing post–secondary institutions to form an Alliance of Universities in Applied Sciences

Allocate HKD 130 million to support “Knowing More About IT” Programme. Providing subsidies of up to HKD 300,000 for each publicly funded primary school in the next 2 academic years to enhance primary school students’ interests in information technology and its applications
Set aside HKD 680 million to support vocational and professional education, extending the Pilot Incentive Scheme to Employers and the Pilot Subsidy Scheme for Students of Professional Part-time Programmes for 5 years
Number of Community Care Service Vouchers to increase to 11,000 in the year
Number of Residential Care Service Vouchers for the Elderly to increase to 5,000 from second quarter of this year
Implement a 3-year pilot scheme in 2024 to provide additional subsidy of HKD 500 per month for employed disabled recipients of CSSA

15,000 units from 8 residential sites under the 2024/25 Land Sale Programme, railway property developments, private development and redevelopment projects and projects undertaken by Urban Renewal Authority
2 commercial sites to provide about 120,000 square metres of commercial floor area, and 1 industrial site to provide 540,000 square metres of industrial floor area
Public housing – identified sufficient land for 308,000 units
Private housing - completion of 19,000 units annually on average in 5 years from 2024. The potential first-hand private residential unit supply for the next 3 to 4 years will be around 109,000 units