Hong Kong Financial Secretary Paul Chan announced that the new fiscal year's Budget will be delivered on February 25. The Hong Kong SAR government has returned to a surplus in its operating accounts earlier than expected, thanks to increased revenue from a strong financial market, including stamp duty. However, the capital account is projected to remain in deficit due to heightened investment in public works.
Chan also addressed the development of stablecoins, indicating a gradual approach. He mentioned that after initial steps are completed, the possibility of linking stablecoins to gold or other assets will be considered, highlighting the importance of careful management in this area.
Hong Kong to Present New Fiscal Budget on February 25
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