Secretary for Financial Services and the Treasury Paul Chan announced the launch of the consultation on the Hong Kong Budget, aiming to promote economic growth and industry prosperity.

On December 17th, Hong Kong Chief Executive John Lee Ka-chiu attended a meeting before the association and stated that the consultation work on the financial budget had begun. The government will handle financial issues by increasing revenue and cutting expenses to boost overall local economic development, enhance local economic growth, increase government revenue, and benefit every industry. He mentioned that Financial Secretary Paul Chan Mo-po will actively develop some projects in revenue generation and cost-saving, increase economic activities and new growth points. After collecting opinions, the budget will be tailored to the actual situation in Hong Kong. Hong Kong's Gross Domestic Product mainly relies on investment, consumption, and exports. Regarding investment, John Lee Ka-chiu mentioned that the government will continue to ensure an annual investment of around HK$90 billion to sustain long-term economic growth. As for private investment, he noted that the current situation is uncertain, leading to more cautious private investments. The consumption market has also changed, with an increase in mainland visitors since Shenzhen resumed "multiple entries on one visa." This has led to an increase in foot traffic and improved atmosphere in the market, resulting in increased turnover in many industries. He believes that during the Christmas and New Year peak season, the number of visitors to Hong Kong will continue to rise, leading to increased consumption. He urged the industry to capitalize on online shopping opportunities amidst the decline in physical retail. In response to the issue of budget deficit, some have suggested reducing salaries or cutting the civil service establishment. John Lee Ka-chiu responded by welcoming all opinions, stating that each opinion will be carefully studied. The government will consider different opinions and analyze the underlying concepts and data to balance overall interests.