Hong Kong Financial Secretary Paul Chan on Wednesday unveiled an expansionary budget to support households and businesses so as to stabilize the economy.
In his 2022-23 budget speech, Chan said counter-cyclical measures costing a total of over HK$170 billion, together with spending in infrastructure projects and other items, will boost the economy by around three percentage points.
He earmarked HK$20 billion for other potential anti epidemic needs. "We will provide full support to fight the epidemic should more resources be required."
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.