Hong Kong’s technology enterprises are set to benefit from the city’s annual budget as the government plans to roll out investments in artificial intelligence research.

From axing 10,000 government jobs to raising the airport departure tax , here is a look at Financial Secretary Paul Chan’s plan to balance Hong Kong’s books.

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.

Hong Kong said on Wednesday that it is setting aside $127.67 million to create an artificial intelligence research institute that will conduct research and development.