Gov't proposed transfers from Exchange Fund to develop Northern Metropolis
發佈日期: 2026-02-28 20:35
TVB News
The Budget proposed transferring 150 billion dollars from the Exchange Fund to support the development of the Northern Metropolis and the city's infrastructure.
Financial Secretary Paul Chan said the economic outlook for the next few years remain bright, so such allocations will not be a regular occurrence.
The Budget introduced several measures aimed at accelerating the development of the Northern Metropolis.
To cope with the massive construction and development costs, the Exchange Fund will be used again after 42 years - with a total of 150 billion dollars being transferred over a two-year period for infrastructure development.
When asked whether the transfer would continue over the next two years even if the Exchange Fund incurs losses, Financial Secretary Paul Chan said no other transfers are expected besides the current 150 billion dollars.
He added that the government is reducing increase in its expenditures while adding revenue appropriately.
Chan said in the coming years, government finances will be stable.
In previous years, the government's revenue mainly relied on land sales, with the figure previously exceeding 100 billion dollars.
But authorities are expecting a income of just 18 billion from the sale of nine private residential sites offered this year.
The FS the government's fiances will be supported by various revenue streams and not solely on land sales.
