Hong Kong: Hong Kong Budget Aims to Lift the Economy

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Hong Kong: Hong Kong Budget Aims to Lift the Economy

The Hong Kong Financial Secretary announced the 2021-22 budget on February 24, 2021, promising to spend over HK$80 billion (US$10.3 billion) on various one-off measures to lift the economy and help relieve people’s burdens due to the COVID-19 pandemic. However, the budget did not respond to the industry’s request for reducing the 100 percent excise tax on spirits. This report will focus on one-off and long-term measures relevant to trade and agricultural products.

Hong Kong: Hong Kong Budget Aims to Lift the Economy

East Asia and the Pacific, Hong Kong

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