The Financial Secretary has called on everyone in Hong Kong to contribute to what he described as a "belt-tightening budget". Delivering his latest budget blueprint on Wednesday, Paul Chan unveiled spending cuts and new ways to generate revenue to tackle an HK$87-billion deficit. Among the cost-cutting measures are a seven percent reduction in government expenditure over three years and a freeze in civil-service pay. Janice Lo reports.

Lawmaker and Lingnan University associate vice president Lau Chi-pang says he believes universities can cope with funding cuts which he described as "mild and acceptable". In his budget speech, Paul Chan said he will set aside more than HK$68 billion for government-funded universities over the next three years. As Kelly Yu reports, that's in line with a two percent reduction target each year.

The Financial Secretary has confirmed changes to the HK$2 public transport fare for people aged 60 or above. But an economics professor says it will not make much difference. Sophie Hui tells us more.

An executive councillor says most of Hong Kong's senior citizens will not be affected by changes to the city's fare concessionary scheme for the over 60s. Instead of a flat fare of HK$2, eligible commuters will have to pay 20 percent of any standard fare exceeding HK$10. The scheme will also be capped at 240 trips per month. Lam Ching-choi, who formerly chaired the Elderly Commission, said the planned adjustments can encourage the elderly population to make changes to their commuting habits. He spoke to Frank Yung.

Despite efforts to reduce spending, the Financial Secretary has handed out some sweeteners. But as Elvis Yu reports, his offerings were slimmed down this time around.

The government will not be selling any commercial site in the coming year because of a sluggish market. But as Frank Yung reports, eight residential plots will be offered.

A property consultant says this could help ease the supply glut of office space. Kathy Lee, Head of Research and Retail Consultancy at Colliers, also told Chloe Feng that the pause also sends a positive signal to stabilise the city's commercial market.

The government has proposed building a new waterfront landmark in Hung Hom, with a yacht club mooted there. In his budget speech on Wednesday, Financial Secretary Paul Chan says the MTR Corporation has been asked to conduct a study to develop an area south of Hung Hom Station, as well as nearby pier sites. Authorities want the landmark to also include "iconic commercial and residential developments, retail, dining and entertainment facilities". The Commodore of the Royal Hong Kong Yacht Club, Adrian Pang says the government can do more than even this proposal to provide land for more yachts and the sailing industry. He spoke to Carol Musgrave.

Paul Chan said there are no plans at the moment to introduce a sales tax. Speaking a few hours after delivering his budget, he said the government has to take several factors into consideration when trying to find new revenue sources.

The government says it's exploring whether to regulate betting on basketball. The Hong Kong Jockey Club indicated that it's a step in the right direction, as Hailey Yip reports.

Patrick Lau, chair of the department of sport, physical education and health at Hong Kong Baptist University, told Hailey Yip he agreed that regulation could curb illegal betting activities in the short run. But he warned of long-term harmful consequences, particularly the public health burden associated with gambling addiction.

As part of efforts to generate revenue for the government, the financial secretary has proposed raising the air passenger departure tax, and some government fees and charges. Priscilla Ng reports.

South Korea’s fertility rate rose in 2024 for the first time in nine years. That’s according to preliminary data released on Wednesday. The upturn has been supported by an increase in marriages and is a sign that the country’s demographic crisis might have turned a corner. In 2023, the birthrate fell for the eighth consecutive year to the lowest in the world. South Korea has rolled out various measures to encourage young people to get married and have children, including a plan to create a new ministry devoted to tackling low birthrates. Jamie Clarke has more.

The president of the United States, Donald Trump, says that he plans to start selling a “gold card” visa with a potential pathway to US citizenship for US$5 million. He’s seeking to have the new initiative replace a 35 year-old visa programme for investors. Trump made the suggestion during the first meeting of his second-term Cabinet, where he was joined by his billionaire advisor Elon Musk. Jamie Clarke again.

A food additive for cattle has been making headlines recently. It's used to reduce methane emissions in cows - a source of greenhouse gases. But the agricultural trade has been fighting back against claims on social media that this food additive can have an adverse impact on human health. Vanessa Cheng and Tony Sabine find out more in this edition of Fact Focus: