HK unveils expansionary budget with push on innovative industries
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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.
