Paul Chan’s new budget sets aside HK$30 billion to kick-start Northern Metropolis

South China Morning PostEN 1 min read 100% complete by Oscar LiuFebruary 25, 2026 at 12:45 PM

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Hong Kong's Financial Secretary Paul Chan has allocated HK$30 billion in the latest budget to initiate the Northern Metropolis project. The funds will be divided equally among three companies overseeing key areas: Hetao Hong Kong Park, San Tin Technopole, and Hung Shui Kiu Industrial Park. This investment aims to accelerate the megaproject through public-private partnerships, unlocking land potential and encouraging business sector participation in technological transformation. The government seeks to expedite the Northern Metropolis' development by channeling resources towards target industries. A HK$10 billion capital injection will be requested from the Legislative Council to further accelerate the Hetao Hong Kong Park's development, which already has an 80% occupancy rate in its first two buildings.

Key Entities & Roles

Key Player Opposition Context

Legislative Council 50% San Tin Technopole 60% Hung Shui Kiu Industrial Park 60% Hetao Hong Kong Park ×270% Hong Kong ×480% Paul Chan Mo-po ×290% Northern Metropolis ×395%

Keywords

northern metropolis 100% hong kong 80% budget 70% public-private partnerships 70% land development 60% i&t transformation 60% san tin technopole 50% hung shui kiu industrial park 50% hetao hong kong park 50% capital injection 40%

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Positive

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South China Morning Post

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90%

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northern metropolis hong kong budget public-private partnerships land development i&t transformation san tin technopole hung shui kiu industrial park hetao hong kong park capital injection

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