Hong Kong will press on with Northern Metropolis project and push for development of AI, finance chief Paul Chan pledges at Post budget forum.

By doubling down on fiscal austerity and promoting economic development through investment in AI, Hong Kong's financial secretary is putting the city on the right track Reform and innovation have rightly taken the lead in the budget this year.

Finance chief eyes new revenue sources while freezing pay for public servants, cutting civil service positions, reducing education spending.

BEIJING: As artificial intelligence rapidly transforms the global economic landscape, Hong Kong must and is ready to harness technological innovation to fuel its growth, Financial Secretary Paul Chan Mo-po said in the Sunday blog.

Artificial intelligence is helping improve trading efficiency, however, a balance with cost efficiency is crucial for financial institutions to stay competitive.

The government-owned Hong Kong Investment Corporation (HKIC), which manages HK$62 billion (US$8 billion) of funds, plans to debut a conference for young emerging artificial intelligence (AI) scientists,

Hong Kong will cut thousands of civil service jobs and increase investments in artificial intelligence to address its growing deficit. Finance Secretary Paul Chan announced a 7% reduction in government spending and emphasized AI as a key sector for future growth.

Hong Kong will cut thousands of civil service jobs and boost spending in artificial intelligence as it seeks to tackle an increasing deficit.

Hong Kong plans a 7% cut in public spending and a major AI investment to tackle economic challenges. Financial Secretary Paul Chan emphasizes fiscal consolidation and growth projections amidst geopolitical tensions.

Hong Kong aims to cut spending by slashing 10,000 civil service jobs in an effort to rein in a rising deficit, and plans a big AI push as it navigates headwinds from global economic uncertainty, geopolitical tensions and a weak property market.

Hong Kong aims to cut spending by slashing 10,000 civil service jobs in an effort to rein in a rising deficit, and plans a big AI push as it navigates headwinds from global economic uncertainty, geopolitical tensions and a weak property market.