BUDGET 2015-16 HIGHLIGHTS

For the medium term, he forecast that the average annual growth rate would be 3.5% in real terms from 2016 to 2019, and the underlying inflation rate would average 3%.

The 2015 Budget includes measures to diversify Hong Kong’s economy, enhance manpower training, nurture start-ups and social enterprises, boost creative industries and expand tourism facilities, as well as initiatives to enhance education, healthcare, housing, infrastructure.  You may be interested to know, for instance, that :

• Our Science Park would set up a co-investment matching fund to encourage financing of new enterprises, coupled with a proposed injection of HK$5 billion (USD 640 million) to our Innovation and Technology Fund;
• We shall amend the Inland Revenue Ordinance to allow, under specified conditions, interest deductions under profits tax for corporate treasury centres and reducing profits tax for specified treasury activities by 50%;
• We will explore the construction of a new convention centre to draw in more international business visitors; and
• We will further boost creative industries, and inject funding to promote, among others, Hong Kong's fashion and film development.

The highlights and full content of the Budget are available at:
- http://www.budget.gov.hk/2015/eng/highlights.html.
- http://www.budget.gov.hk/2015/eng/speech.html.

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