HK unveils expansionary budget with push on innovative industries

Hong Kong

HONG KONG rolled out tax cuts, relief measures and capital spending in an expansionary budget on Wednesday, after the city racked up a hefty budget surplus, targeting investments in high-technology industries to help raise its competitiveness.

Financial Secretary Paul Chan unveiled measures to address economic challenges and longstanding livelihood strains in the former British colony, including a gaping wealth gap and lofty property prices.