Diversified Economy
Financial services
- Lower minimum entry age of the HKMC Annuity Plan from 65 to 60
- Launch a $1 billion pilot scheme for fixed-rate mortgages to help reduce risks of interest rate volatility for homebuyers
- Issue inflation-linked retail bonds and Silver Bonds totalling not less than $13 billion
- Issue green bonds totalling $66 billion in next 5 years
- Waive stamp duty on stock transfers paid by the Exchange Traded Fund (ETF) market makers when creating and redeeming ETF units in Hong Kong
- Establish a limited partnership regime and provide tax concession for carried interest issued by private equity funds to attract them to domicile and operate in Hong Kong
Innovation and technology
- Earmark $3 billion to take forward Phase 2 of the Science Park Expansion Programme
- Explore the establishment of a third InnoHK research cluster
- Increase the grant ceiling under the Technology Voucher Programme to $600,000 and raise the Government’s funding ratio to 75%
- Inject $345 million for a pilot subsidy scheme to encourage the logistics industry to enhance productivity through the application of technology
Tourism
- Additional funding of over $700 million for the Hong Kong Tourism Board to step up external promotion after the epidemic
Trade
- Additional funding of $150 million for the Hong Kong Trade Development Council to assist Hong Kong enterprises in exploring business opportunities
Professional services
- Earmark about $450 million to implement the “Vision 2030 for Rule of Law” project to strengthen the Hong Kong community’s understanding of the concept of the rule of law and its implementation
Cultural and creative industries
- Additional $900 million to the Art Development Matching Grants Scheme to further promote sponsorship of culture and arts from all sectors
Nurture talents
- Expand the Researcher Programme and Postdoctoral Hub to cover all technology companies conducting R&D activities in Hong Kong
- Earmark $40 million to subsidise short-term internships for undergraduates and postgraduates taking STEM programmes in local universities
- Government and public organisations to increase short-term internship places for 2020-21 to almost 5 000
