Financial Secretary Paul Chan said in his 2026-27 Budget speech today that the Government will earmark $10 billion for loans to support campus development at the Northern Metropolis University Town.

The Government also plans to release three sites in the Hung Shui Kiu/Ha Tsuen New Development Area for applications for campus development by University Grants Committee-funded universities and universities of applied sciences.

The Government has earmarked resources to support, on a matching basis, the Hong Kong University of Science & Technology in developing the city’s third medical school, which aims to admit its first cohort of students in the 2028-29 academic year.

Land at Ngau Tam Mei in the Northern Metropolis has been reserved and resources will be earmarked for the new medical school’s permanent campus and an integrated teaching and research hospital.

To continue nurturing construction professionals to meet future manpower needs, and to assist more graduates in obtaining professional qualifications, Mr Chan said the Government will allocate $65 million to provide additional government-funded training places this year.

Moreover, the Government will extend the Programme to Enhance Talent Training for the Insurance Sector by three years to enhance the professional competency of insurance practitioners.

To date, Hong Kong’s various talent admission schemes have attracted over 270,000 talented individuals to the city, with the Top Talent Pass Scheme drawing over 100,000 elite individuals from around the world.