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Well-off Hong Kong daunted by record deficits

Hong Kong Disneyland has achieved a net profit for the first time in nine years, with a net profit estimated at HK$664 million for the year ending September 30, 2024, as revealed by Legislator Michael Tien Puk-sun after speaking with the park's management.
Visitor numbers at Disneyland increased by over 1 million last year, driven by the return of mainland Chinese and Southeast Asian tourists, although Hongkongers' visits decreased significantly.
Hong Kong is currently facing significant fiscal challenges, with annual deficits exceeding HK$20 billion in three of the past four years, prompting calls for budget cuts.
Finance Chief Paul Chan attributed the deficits to multiple internal and external challenges and emphasized the need for a tightly controlled upcoming budget.

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Japan Today

Hong Kong daunted by record deficits

1 hour ago·Sakado, Japan

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美国之音

Hong Kong faces challenge of record fiscal deficit

Hong Kong is facing its toughest fiscal test in 30 years after a series of huge deficits, with experts urging the government to be cautious in cutting spending amid economic turmoil. Official data shows that Hong Kong has had annual deficits of more than $20 billion in three of the past four years.

12 hours ago

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South China Morning Post

Hong Kong Disneyland rebounds to record profit after 9 years of losses: lawmaker

After meeting company management, legislator Michael Tien says park doubled its net profit last year compared with previous high set in 2013-14.

16 hours ago·Hong Kong

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VOA News

+8 Reposted by 8 other sources

Well-off Hong Kong daunted by record deficits

HONG KONG — Hong Kong is facing its toughest fiscal test in three decades following a painful run of mammoth deficits, with experts urging the government to make careful cuts as the economy wobbles. The Chinese finance hub last saw a string of deficits after the Asian financial crisis in the late 1990s -- but their scale was a fraction of the $32.4 billion shortfall in the 2020-21 fiscal year. Hong Kong has recorded annual deficits exceeding $20…

16 hours ago·United States

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Hong Kong Free Press

Budget 2025: Well-off Hong Kong daunted by record deficits

Hong Kong is facing its toughest fiscal test in three decades following a painful run of mammoth deficits, with experts urging the government to make careful cuts as the economy wobbles.Finance Secretary Paul Chan meets the press after delivering the budget for 2024 on February 28, 2024. Photo: Kyle Lam/HKFP. The Chinese finance hub last saw a string of deficits after the Asian financial crisis in the late 1990s — but their scale was a fraction …

16 hours ago·Hong Kong, Hong Kong

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IBTimes Australia

Well-off Hong Kong Daunted By Record Deficits

Hong Kong is facing its toughest fiscal test in three decades following a painful run of mammoth deficits, with experts urging the government to make careful cuts as the economy wobbles.

18 hours ago·Australia

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