Budget Speech
Press Releases
Photo Gallery
related Documents
Previous Budgets
Related Links
Budget Consultation Comic

2009-2010 Budget Consultation Forum


The brand Hong Kong

The 2009-10 Budget Highlights

Countering Financial Crisis Making Good Use of Fiscal Reserves
  • For 2008, GDP grew by 2.5%, lower than the trend growth rate over the past 10 years. Hong Kong export growth recorded an increase of only 2.0%, local private consumption expenditure grew only by 1.8%. Inflation was kept at 4.3%.
  • A deficit of $4.9 billion in the Consolidated Account for 2008-09 is forecast.
  • As a result of the financial crisis, a decrease in GDP by 2-3% is forecast for 2009. Unemployment rate will increase and inflation rate will ease to 1.6% in 2009.
  • The Government will adopt counter-cyclical strategies to boost the economy. There will be a deficit of $39.9 billion in the Consolidated Account for 2009-10.
Consolidating Fundamentals  Embracing Challenges

caring communityThe Government will introduce a series of measures to help the people overcome the challenges posed by the financial crisis.

  • Introduce a number of measures to preserve employment for the short term.
  • Promote a more sustainable economic development by strengthening the fundamentals and developing new economic initiatives in the longer run.
  • To develop a caring community and provide assistance to the disadvantaged.
Preserving Jobs

62000 Jobs and InternshipWe will make a provision of $1.6 billion to create 62 000 jobs and internship opportunities in the next three years. The measures include:

  • To earmark $400 million non-recurrent funding to enhance a series of employment programmes, and to provide $13 million additional funding for the Labour Department to provide employment assistance to employees affected by company closures.
  • Internship Programme for University GraduatesTo earmark $140 million to launch an “Internship Programme for University Graduates”.
  • To earmark $700 million for the “Operation Building Bright” campaign to help maintain 1 000 dilapidated buildings.
  • 2009 East Asian GamesTo earmark $100 million to assist organisers to host more events to attract tourists.
  • To allocate $78 million for organising activities relating to the 2009 East Asian Games and the 60th anniversary of the founding of the People's Republic of China.
  • To earmark $63 million to conduct an education programme for Internet users.
  • To allocate an additional $130 million to enhance energy efficiency in government buildings and public facilities.
Promoting Sustainable Economic Development

CooperationEnhancing Pillar Industries
Developing New Economic Initiatives

  • To enhance Hong Kong/Guangdong/Taiwan/Macao co-operation.
  • To optimise the supervisory framework to enhance investor protection.
  • To develop co-operation with emerging markets.
  • To promote bond market development by implementing a programme to issue government bonds.
  • Asian wine and gourmet centreTo promote Hong Kong as an Asian wine and gourmet centre.
  • To promote conventions, exhibitions and tourism industries.
  • To commence the construction work of the Kai Tak cruise terminal.
  • To promote technology-based economy and explore the feasibility of the development of Hong Kong Science Park Phase 3.
  • Kai Tak cruise terminalTo earmark $300 million to support creative industries.
  • To promote green economy.
  • To promote the use of electric vehicles and extend the exemption of electric vehicles from First Registration Tax.
  • electric vehiclesTo enhance energy efficiency in buildings.

Developing Human Capital

  • To earmark $7.5 billion to help implement the “334” new senior secondary academic structure.
  • To provide additional funding of $21 million every year to promote national education.

Implementing Development Projects
Investing in the Future


  • Capital works expenditure for 2009-10 will be $39.3 billion.
  • To speed up the implementation of the ten major infrastructure projects.
  • To set up a Development Opportunities Office to co-ordinate development projects.
2008 | Important notices | Privacy Policy 
Last revision date : 25 February, 2009