Highlights - budget.gov.hk

1 The 2022- 23. Budget Highlights Fighting the er Virus Togeth t Developmen s of Industrie Building Capacity Building a ity Liveable C. 2022/ Fighting the Virus Together Stepping up Anti-epidemic Efforts $22 billion for strengthening Relieving People's Hardship testing work and providing additional support for the Hospital Authority $7 billion for procuring Electronic anti-epidemic items and services and implement Consumption Vouchers anti-epidemic measures Issue $10,000 electronic $6 billion for procuring consumption vouchers to each more vaccines eligible Hong Kong permanent $500 million for resident and new arrival enhancing environmental aged 18 or above hygiene services Previously registered persons.

2 $12 billion for the $5,000 consumption vouchers construction of anti-epidemic will be issued in April, remaining related facilities $5,000 vouchers will be issued in mid-year by instalment $20 billion earmarked for other potential Newly eligible persons: anti-epidemic needs after successful registration, $10,000 vouchers will be issued in mid-year by instalment Tax Deduction for domestic rental expenses Ease the burden of renting ers a private property on taxpay to sala ries tax and tax under liable me nt wh o are not personal assess ties owners of domestic proper Subject to a deduction ceiling of $10 0,0 00 for a year of assessment from the year of assessment 2022/23.

3 100% Personal Loan Guarantee Scheme for Individuals Supporting Extend the application period to end April 2023 Enterprises Increase the maximum loan amount to nine times of the applicant's average Rental Enforcement Moratorium for tenants monthly income during employment, and raise the ceiling to $100,000. Extend the maximum repayment period of specific sectors to 10 years, and the maximum duration of principal moratorium to 18 months through legislation terminating Lower the threshold for the Public Prohibit landlords from ten anc y of or not pro viding Transport Fare Subsidy Scheme to $200 the cified services to ten ant s of spe for half a year (May to October)

4 Rents sectors for failing to settle Reduce salaries tax and tax under edu le, or tak ing rele vant on sch personal assessment for the year legal actions aga inst the m of assessment 2021/22 by 100%, subject to a ceiling of $10,000 Valid for three months, r and be extended for anothe Provide rates concession for domestic three months if necessary, properties for 2022/23, subject to a ceiling atically with the legislation autom of $1,500 per quarter in the first two quarters lapsing after six mo nth s and a ceiling of $1,000 per quarter ibility in the remaining two quarters Banks will exercise flex if the rep aym ent abi lity Grant each eligible residential electricity of any landlord is affected account a subsidy of $1,000 owing to reduction Provide an extra half-month allowance in his rental income of standard CSSA payments, Old Age Allowance, Old Age Living Allowance or Disability Allowance.

5 Similar arrangements will apply to Working Family Allowance Pay examination fees for school candidates sitting for the 2023 HKDSE Examination Strengthen support for e-learning of students from grassroots families through the $2 billion set aside in the Quality Education Fund Create 30 000 time-limited jobs through the $ billion earmarked in AEF. Special 100% Loan Guarantee Innovation and for Enterprises Technology Extend the application period Increase the funding allocated to end June 2023 to the Hong Kong Growth Portfolio under the Future Fund to set up a $5 billion Increase the maximum loan amount Strategic Tech Fund to invest in technology to 27 months of employee wages enterprises and projects which are and rents.

6 With the loan ceiling raised of strategic value to Hong Kong to $9 million Earmark $10 billion to further promote the Extend the maximum repayment period development of life and health technology to 10 years Double the subsidy amount to $440 million Offer the option of making partial to strengthen support to the R&D activities repayment of principal over a longer of 16 State Key Laboratories and six period of time Hong Kong Branches of Chinese National Engineering Research Centres Extend the Pre-approved Principal in Hong Kong Payment Holiday Scheme to end October, offering enterprises the option of making Double the subsidy amount under partial repayment of principal over the Technology Start-up Support Scheme a longer period of time for Universities to $16 million Reduce profits tax for the year Set up a Digital Economy Development of assessment 2021/22 by 100%, Committee to accelerate the progress subject to a ceiling of $10,000 of digital economy Provide rates concession for Earmark $600 million to conduct non-domestic properties for 2022/23, a comprehensive e-government audit subject to a ceiling of $5,000 per quarter in the first two quarters and a ceiling Financial Services of $2.

7 000 per quarter in the remaining Increase the funding allocated two quarters to the Hong Kong Growth Portfolio Waive the business registration fees under the Future Fund to set up for 2022/23 a $5 billion GBA Investment Fund to focus on investment opportunities Continue to waive 75% of water and in the Guangdong-Hong Kong-Macao sewage charges payable by non-domestic Greater Bay Area ( GBA ). households for eight months, subject to a monthly ceiling of $20,000 and Plan to issue no less than $15 billion $12,500 respectively of inflation-linked retail bonds (iBond), no less than $35 billion of Silver Bond Extend the waivers/concessions of and no less than $10 billion the existing 34 groups of government of retail green bonds in the fees and charges for 12 months next financial year Continue to grant the 75% rental/fee concession to eligible tenants of government premises/short-term tenancies and waivers for six months (100% concession for those closed at the Government's request)

8 Development To strengthen support for export financing and export credit insurance of Industries Explore ways to enhance the prospectus requirements, in order to make it easier Tourism for retail investors to participate Earmark $ billion to support and in bond market develop the tourism industry, including to provide incentives to develop and launch Examine the revision of the listing tourism products, sponsor the training requirements to meet the fundraising of practitioners, and support the work needs of technology enterprises of the Hong Kong Tourism Board Make preparation to allow stocks traded to revive the tourism industry via the Southbound Trading of Stock Connect to be denominated in RMB Trade Explore enhancement measures for Allocate $135 million to the Hong Kong the Cross-boundary Wealth Management Trade Development Council for the Connect Scheme in the GBA introduction of the Support Scheme for Propose to provide tax concessions Pursuing Development in the Mainland for the eligible family investment to facilitate Hong Kong people and management entities managed entrepreneurs in seizing

9 Opportunities by single-family offices in the Mainland Continue to issue green bonds totalling about US$ billion or equivalent, Aviation and Maritime and enhance the Green and Sustainable Continue to develop sea-air cargo Finance Grant Scheme transhipment between the Hong Kong International Airport and the rest of the GBA. Implement a pilot scheme on infrastructure financing securitisation Explore concrete proposals to promote the to offer infrastructure financing development of Smart Port and propose securitisation products with a total value to provide half-tax concession to attract of US$450 million more maritime enterprises to establish a presence in Hong Kong Allocate $10 million for launching a new round of the Fintech Proof-of-Concept Subsidy Scheme Agriculture Explore the introduction and Fisheries of more commercial data sources Inject $1 billion to launch pilot schemes to the commercial Data Interchange to support the development of the industry

10 By adopting new technologies Arts and Culture Allocate $42 million for organising Investment Promotion the Hong Kong Performing Arts Market Provide recurrent provision of around designed for the performing arts industry $90 million to InvestHK to strengthen its work on investment promotion Allocate $40 million to facilitate the application and development Organise a high-level Global Financial of arts technology Leaders' Investment Summit in Hong Kong, inviting representatives of Mainland and international financial institutions to attend to learn more about the unique advantages and investment environment of Hong Kong Building Capacity Financial Sectors: Launch the Pilot Green and Sustainable Finance Capacity Building Support Scheme and the Pilot Scheme on Expand land resources Training Subsidy for FinTech Practitioners for the training of professionals Northern Metropolis: Set aside $100 billion Innovation and Technology.