Hong Kong will cut government spending by 7 per cent over the coming three years, Financial Secretary Paul Chan has announced in his 2025 budget speech, as the city logged an estimated HK$87.2 ...

Photo: Kyle Lam/HKFP. The Chinese finance hub last saw a string of deficits after the Asian financial crisis in the late 1990s — but their scale was a fraction of the HK$252 billion (US$32.4 ...