Why It Matters

Hong Kong in race to innovate

In what will give Singapore a run for its money, the Hong Kong government has unveiled what some called a "bold" and "targeted" expansionary Budget that will inject serious funding into innovation and technology over the longer term.

With a record surplus of HK$138 billion (S$23.4 billion), Financial Secretary Paul Chan on Wednesday announced that HK$50 billion will be spent on bolstering innovation and technology.

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A version of this article appeared in the print edition of The Straits Times on March 02, 2018, with the headline 'HK in race to innovate'. Subscribe