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FS paves way to green, digital future

A number of initiatives and measures aimed at accelerating high-quality development were announced in today’s 2024-25 Budget, with the Government emphasising a move towards a green future and digitalisation.   Explaining that high-quality development spurs ongoing economic innovation and growth whilst conserving the natural environment, Financial Secretary Paul Chan said Hong Kong must pursue opportunities through leveraging its advantages under “one country, two systems”, namely those of enjoying strong support at a national level and being closely connected to other parts of the world.   He stressed that green development involves huge business opportunities and financing needs, as governments and businesses around the world pursue carbon neutrality and green transformation. In addition, he said digitalisation has become a new driving force for economic development, empowering enterprises to enhance efficiency, boost their competitiveness and achieve new growth.   Introdu

Feb sees 0.3% rise in inflation

Overall consumer prices in February rose 0.3% year-on-year, smaller than the 1.9% increase in January, the Census & Statistics Department announced today.   Netting out the effects of all the Government's one-off relief measures, the year-on-year rate of change in February’s underlying inflation rate was -0.1%, smaller than January’s -0.5%.   The department said this was mainly due to the increases in the costs for meals bought away from home and household services charges.   February saw year-on-year price drops for clothing and footwear, transport, durable goods, alcoholic drinks and tobacco, housing and miscellaneous goods.   Prices for electricity, gas and water, food, miscellaneous services as well as meals bought away from home went up.   Taking the first two months of the year together to neutralise the distortions caused by the timing of the Lunar New Year, underlying consumer prices registered a small year-on-year decline of 0.3%.   The Government explained the decline mainly reflected the narrowed increase in food prices and the enlarged fall in private housing rentals.   Meanwhile, price pressures on other major CPI components remained very mild.
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