Hong Kong Budget

An expert from PwC said the budget was “well-calibrated.”

Under the budget, the government will allocate an additional $550m in funding to HKTDC.

Several projects are lined up to support the market’s international aviation hub status.

Some of the measures include consumption vouchers for eligible citizens.

The government also plans a $350m subsidy to four in-harbour operators.

Chief Executive John Lee said the budget measures will restore Hong Kong’s position as an investment hub. 

It was proposed to increase duty on cigarettes and other tobacco products by 60 cents per stick. 

He predicts the economy to grow by 3.5 to 5.5% for the whole year.