Hong Kong Financial Secretary Paul Chan on Wednesday scrapped measures intended to cool the property market, and raised the tax on high income earners to plug the hole in the budget.
In the Budget Speech, Chan estimated economic growth of 2.5- 3.5 percent in 2024 after posting an expansion of 3.2 percent in 2023.
The economy is projected to grow by an average of 3.2 percent a year in real terms from 2025 to 2028.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.