Appropriation Bill Passes

The Legislative Council passed the Appropriation Bill 2019 today, and the Government will implement initiatives in the Budget as soon as possible, Financial Secretary Paul Chan said.

 

Speaking to the media after the bill’s passage, Mr Chan thanked legislators for their opinions during the vetting process.

 

He also thanked government officials and the LegCo Secretariat for their assistance.

 

Mr Chan noted the Budget was prepared against the backdrop of profound changes in the global political and economic landscape and a complex and volatile external environment.

 

External factors such as the Sino-US trade dispute have put downward pressure on Hong Kong’s economy, he said.

 

Mr Chan added the Budget was prepared along the direction of supporting enterprises, safeguarding jobs, stabilising the economy and strengthening livelihoods.

RECENT NEWS

US Stocks Rise On Hopes Of Pause In Rate Increases

Wall Street stocks finished solidly higher on Thursday, reflecting better sentiment on the US economy and a consensus vi... Read more

China's Financial Risks 'controllable': Regulators

The head of the National Financial Regulatory Administration on Thursday told a high-profile forum in Shanghai that the ... Read more

Banks Cut Yuan Deposit Rates, Could Boost Consumption

China's biggest banks on Thursday said they have lowered interest rates on yuan deposits, in actions that could ease pre... Read more

Cheese And Wine Put EU, Australia Deal In Peril

Australia on Thursday threatened to walk away from a blockbuster free trade deal with the European Union unless its prod... Read more

US Stocks End Mixed As Tech Shares Are Sold Off

Gains by industrial companies lifted the Dow on Wednesday, while weakness among technology shares pushed the Nasdaq deci... Read more

Amazon 'plans Prime Video Streaming Service With Ads'

Amazon.com is planning to launch an advertising-supported tier of its Prime Video streaming service, the Wall Street Jou... Read more