Financial Secretary Paul Chan

The initiatives put forward in this Budget are underpinned by three main objectives.

Diversified economy: We have to diversify our economy to create wealth for Hong Kong and provide wider and better development opportunities for our young people. 

Investing for the future: The outbreak of winter influenza has reminded us once again of the pressing need to improve healthcare services; an ageing population poses challenges which need to be overcome by deploying resources and making early preparation; and we also need to improve our living environment to make Hong Kong an ideal smart city to work and live in. 

Caring and sharing: Children and young people should be given more care, protection and opportunities; middle-class families need relief from financial burdens, while the grassroots and underprivileged require more support.

A fulfilling life calls for not only materialistic improvements, but also better quality of life and spiritual enrichment.

In reality, no abundance of resources would ever enable the Government to satisfy the needs of all. It is my responsibility to take care of various sectors of the community. While addressing the pressing needs, I must also be proactive, innovative and bold in investing for the future of Hong Kong.

Financial Secretary Paul Chan made these remarks while delivering the 2018-19 Budget on February 28.