Core Viewpoint - The Hong Kong government's new budget proposal includes a transfer of HKD 150 billion from the Exchange Fund to support the development of the Northern Metropolis and other infrastructure projects, aiming to diversify the economy and attract various capital investments [1] Group 1: Budget Allocation and Economic Impact - The transfer of HKD 150 billion is intended to stimulate the market and encourage diverse capital participation in the Northern Metropolis development [1] - The Financial Secretary believes that this arrangement will help diversify Hong Kong's economy and strengthen the foundation of industries beyond just the service sector [1] Group 2: Communication with Rating Agencies - The Financial Secretary indicated that despite the transfer reducing the profitability of the Exchange Fund, it remains in positive growth and does not compromise risk resilience or financial stability [1] - There is a concern regarding the government's fiscal approach of using bond issuance as revenue, but the Financial Secretary emphasized that the fiscal accounts are maintained transparently and that the debt-to-GDP ratio is projected to be 19.9% by the fiscal year 2030-31, which is considered manageable [1]
许正宇：转拨外汇基金有望吸引多元资本 亦无损抵御风险和金融稳定能力
Zhi Tong Cai Jing·2026-02-27 06:31