Budget Sails Through Legco In Just Three Weeks

"); jQuery("#212 h3").html("

"); });
2018-05-10 HKT 18:55
Lawmakers have passed this year's budget after three weeks of debate, a change from recent years when months were spent vetting the city's financial blueprint for the coming year.
The house also saw three opposition lawmakers – Charles Mok, Kenneth Leung and Joseph Lee – voting for the budget which passed with 43 legislators backing it. Eleven opposed the bill, while eight lawmakers abstained.
Dozens of amendments proposed by the pan-democrats were rejected during the debate. Change to rules of procedure also ruled out the filibuster tactics the opposition had employed in the past.
After the disqualification of six opposition lawmakers last year, the pro-government side pushed through changes to the rules that govern council procedures, to prevent the time-wasting moves the outnumbered opposition had relied on.
But People Power's Ray Chan criticised Legco President Andrew Leung for the brief debates. "The time I had was extremely limited. At the committee stage last year, I spoke 17 times. This year, not counting this current round, I spoke only five times," he said.
Speaking after the bill was passed, Financial Secretary Paul Chan thanked lawmakers and said the speedy passage of the budget bill was a result of good interaction and listening to people's views.
HashKey Capital Gains SFC Approval For In-Kind Crypto Fund Subscription
HashKey Capital received approval from the Hong Kong Securities and Futures Commission (SFC) to offer an in-kind crypto... Read more
Alibaba Launches Qwen3 AI Model With Hybrid Reasoning
Alibaba launched Qwen3, the latest generation of its open-sourced large language model (LLM) family, on 29 April 2025. ... Read more
HKMA And Cyberport Launch Second Cohort Of Gen AI Sandbox
The Hong Kong Monetary Authority (HKMA), in collaboration with the Hong Kong Cyberport Management Company Limited (Cybe... Read more
InvestHKs Global Fast Track 2025 Open For Applications
Global Fast Track 2025 (GFT 2025) is now open for applications from today, 28 April 2025, until 21 September 2025. This... Read more
Ant Group To Buy Over 50% Stake In Bright Smart Securities
Bright Smart Securities & Commodities, a Hong Kong-based brokerage, made an announcement on 26 April 2025. Its chai... Read more
InvestHK Seminar In India Spotlights Hong Kongs Strategic Business Edge
Invest Hong Kong (InvestHK), the Hong Kong Economic and Trade Office in Singapore (HKETO Singapore), and the Hong Kong ... Read more