Financial Secretary Paul Chan. - Bloomberg
HONG KONG (China Daily/ANN): The Hong Kong Special Administrative Region government will discover new areas for growth as it is key for Hong Kong's economic recovery, Financial Secretary Paul Chan vowed in his official blog on Sunday (Dec 6).
Chan made his appeal as he revealed that the government sees a fiscal deficit of more than HK$300 billion (US$38.7 billion) this year － its steepest yet. Fiscal reserves fell from the equivalent of 23 months of government expenditure at the beginning of this year to that of only about 14 months at the year end.
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