All walks of life in Hong Kong speak positively of the 2024/2025 Budget——

Strengthening the foundation and building the foundation is committed to promoting the high-quality development of Hong Kong

　　Our reporter Wang Yao and Chen Ran 

　　The Financial Secretary of the Hong Kong Special Administrative Region Government, Paul Chan Mo-po, announced the 2024/2025 budget at the Legislative Council of the Hong Kong Special Administrative Region on February 28.

When attending the relevant press conference on the same day, Chen Mobo emphasized that the budget drafted a series of measures to strengthen the foundation and cultivate talents and take into account both long-term and short-term measures. On the basis of consolidating the momentum of economic recovery, we will continue to make every effort to "attract enterprises, talents and funds" to stimulate new demand. , open up new markets and build a high-quality development model.

　　Hong Kong SAR government officials, people from all walks of life and public opinion unanimously believe that the new budget implements the direction of making progress while maintaining stability, responds to social expectations, adds favorable conditions for economic recovery, and at the same time strengthens Hong Kong's advantages of being backed by the motherland and connected to the world, and further enhances Hong Kong's international competitiveness and market vitality.

　　Firm confidence and multi-faceted balance

　　The Chief Executive of the Hong Kong Special Administrative Region, Mr Lee Ka-chiu, issued a statement on February 28, saying that the budget proposes a series of practical measures to strengthen confidence, respond to the expectations of citizens and businesses, and consolidate the momentum of recovery; at the same time, it also takes a long-term view and is committed to promoting high-quality development of Hong Kong and accelerating the cultivation of advantages. industries and talents to enhance Hong Kong’s international competitiveness.

　　Chan Kwok-kee, Chief Secretary for Administration of the Hong Kong Special Administrative Region Government, met with the media on the same day and said that in the complex external environment, the budget implements the direction of making progress while maintaining stability, fully taking into account the sustainability of public finances, and at the same time adopting a more focused and effective strategy. to formulate short, medium and long-term measures to develop the economy, improve people's livelihood, and strengthen Hong Kong's unique advantages of being backed by the motherland and connected to the world.

　　As an international financial center, Hong Kong has both “quantitative” and “qualitative” advantages.

HKEX Group Chief Executive Officer Ou Guansheng believes that the various measures proposed in the budget can further enhance Hong Kong’s international competitiveness.

Hong Kong Exchange Chairman Cha Meilun said that the Hong Kong Exchange will continue to leverage its unique advantages, continuously deepen and improve interconnection with the mainland market, and strengthen international cooperation.

　　The budget announced that Hong Kong’s property market will be fully “removed” from now on.

On the same day, the Hong Kong Monetary Authority revised the countercyclical macro-prudential regulatory measures and other relevant regulatory requirements applicable to property mortgage loans.

Chief Executive of the Hong Kong Monetary Authority Yu Weiman said that the adjustment of relevant measures takes into account a number of factors, including striking a balance between the continued decline in property prices and transactions, ensuring that risks in the banking system are controllable, and reducing the impact on people's home purchases.

　　Seize opportunities to expand markets

　　The Hong Kong Trade Development Council stated that the budget introduces a series of measures to support the transformation and upgrading of small and medium-sized enterprises, attract investment and talents, and promote the green economy, which will help enhance the vitality and resilience of the Hong Kong market.

Lam Kin-yuk, Chairman of the HKTDC, said that the HKTDC will fully support industrial development, strengthen promotion in emerging countries, and consolidate Hong Kong's important role as a two-way investment and trade platform.

　　The budget proposes to hold various major events and themed annual meetings in a short period of time to build Hong Kong's brand as a preferred destination for business and tourism.

Pang Yiu-ka, chairman of the Hong Kong Tourism Board, believes that this has injected a "boost" into the development of Hong Kong's event economy.

The HKTB will develop diversified tourism experiences in four major directions, strengthen publicity work in source markets, and work with the industry to improve its ability to receive tourists.

　　The Airport Authority Hong Kong, Cathay Pacific, and Greater Bay Area Airlines are deeply encouraged by the Budget’s measures to strengthen Hong Kong’s status as an international aviation hub.

Greater Bay Area Aviation Chief Executive Officer Hui Hon-chung believes that with the development of the National Air Silk Road and the completion of the Hong Kong International Airport’s three-runway system, Hong Kong’s aviation network will be further consolidated and expanded.

　　Universities such as the Chinese University of Hong Kong, Hong Kong University of Science and Technology, City University of Hong Kong and Hong Kong Polytechnic University have expressed their welcome to the budget proposal to focus on the development of life and health technology, artificial intelligence, microelectronics and other fields, and to invest more resources to support university innovation and technology research and development, including HK$3 billion has been allocated to implement the "Frontier Science and Technology Research Support Program". "These measures will help universities transform scientific research results into practice and benefit society."

　　Pragmatic and enterprising long-term layout

　　On February 29, a number of local newspapers in Hong Kong published editorials or signed articles, giving positive comments on the budget.

　　An editorial in Hong Kong's "Wen Wei Po" believes that the budget proposes a series of pragmatic, enterprising, and long-term measures to add impetus to economic recovery and high-quality development.

Among them, the ideas and measures to revitalize the economy and create a future will concretely implement the central government’s expectations and the blueprint of the Chief Executive’s policy address.

　　"Hong Kong Commercial Daily" commented that the budget actively responds to the expectations of citizens and enterprises, while laying out a long-term layout for Hong Kong's high-quality development, and deserves recognition and support.

　　An editorial in the English media "South China Morning Post" believes that the budget introduces a series of green measures for finance, technology, shipping, etc., and also proposes to allocate additional resources to build the Hong Kong brand.

These measures are the only way for Hong Kong to develop a new economy and green life, and will be of great benefit to the city in the long run.

　　"Hong Kong Economic Daily" published an editorial saying that the budget proposes measures such as "removing hot spots" from the real estate market and focusing resources on the tourism industry in the short term, which shows the SAR government's attitude towards facing reality.

In the medium to long term, the SAR government must be more active in grabbing enterprises, talents and funds, in line with national plans and needs, and revitalize Hong Kong's economy.

　　(Hong Kong, February 29th) (People’s Daily Overseas Edition)