Hong Kong — Rage erupted on sections of the internet soon after Financial Secretary John Tsang Chun-wah finished his budget speech on Wednesday. A number of Twitter users, using the hashtag #hkbudget, ranted about the absence of tax rebates. Many complained that he had failed to come up with...

Hong Kong — The government will spend more than $54 million on education this year, accounting for 22.5% for recurrent government expenditure, Financial Secretary John Tsang Chun-wah said in his budget speech Wednesday. The money will go toward support for students from low-income families, after-school...

Hong Kong – The government will inject an additional HK$2.74 billion to the public health system and implement various healthcare service reforms, Financial Secretary John Tsang Chun-wah said in his budget speech Wednesday.

Hong Kong — An electricity subsidy and a property-rates waiver will put more money back into residents’ pockets, Financial Secretary John Tsang Chun-wah said in his budget speech Wednesday. Hong Kong will grant each residential electricity account a subsidy of HK$1,800, Tsang said. The subsidy...

Hong Kong — Hong Kong will provide an additional 1,300 subsidised residential care places and 1,700 community care services places for the elderly, Financial Secretary John Tsang Chun-wah said in the 2011-12 budget speech Wednesday. To cope with the surging elderly population, more funds will be...

Hong Kong — Hong Kong will provide more land for office development, Financial Secretary John Tsang Chun-wah said in his 2011-2012 budget speech on Wednesday. He also said Hong Kong will revitalise older industrial sites. “To enhance our competitiveness, we must maintain a steady and adequate...

Hong Kong — Hong Kong’s budget surplus topped HK$71 billion, well in excess of the $25.2 billion shortfall predicted a year ago, Financial Secretary John Tsang Chun-wah said. Speaking at his fourth budget speech on Wednesday, Tsang confounded expectations by refraining from tax concessions...

Hong Kong — Approximately 16,000 new residential flats will become available in Hong Kong next term, a sharp increase of more than 70% compared to last year, Financial Secretary John Tsang Chun-Wah said in the 2011-2012 budget speech. In response to the increasing real estate prices and the shortage...