15 February 2025, Hong Kong – AICPA & CIMA, together as the Association of International Certified Professional Accountants, have submitted their key recommendations for the 2025-26 Hong Kong Budget, encourage the government to place skills development and talent pipeline strategies at the heart of its economic agenda.
As Financial Secretary Paul Chan Mo-po prepares to deliver the budget on 26 February 2025, AICPA & CIMA emphasise the value of forward-thinking policies that enhance Hong Kong’s appeal as an international financial hub while equipping businesses and professionals with future-ready capabilities.
Prioritising Skills for Hong Kong’s Economic Future
Andrew Harding, FCMA, CGMA, Chief Executive – Management Accounting at AICPA & CIMA, highlighted the crucial role of talent development in strengthening Hong Kong’s competitiveness:
“Hong Kong has long been a magnet for local, regional, and global businesses due to its deep capital markets, business-friendly environment, and dynamic workforce. However, with shifting global economic conditions, it is vital for Hong Kong and the Greater Bay Area to take proactive steps in fostering professional skills and development. This will ensure long-term competitiveness and reinforce Hong Kong’s status as a leading business hub.”
Strategic Recommendations for the 2025-26 Budget
AICPA & CIMA outline several key initiatives to support skills development, professional education, and workforce resilience in the upcoming budget:
Recognition of Key Professional Qualifications – The Hong Kong government should formally recognise professional certifications such as CIMA’s CGMA Professional Qualification, aligning with Mainland China, where the designation is already recognised in 11 provinces and cities. This would reinforce Hong Kong’s position as a global business and finance centre while attracting top-tier talent.
Tax Incentives for Upskilling and Professional Memberships – Expanding tax deductions for online learning from top global education providers would encourage professionals to reskill and upskill in response to an evolving business landscape. Additionally, increasing the number of professional memberships deductible for salary tax would further support continuous professional development.
Expanding the Continuing Education Fund (CEF) – The government could extend the CEF framework to offer full tuition and examination fee reimbursement for recognised professional qualifications such as CIMA’s CGMA Professional Qualification, the US CPA exam, and ESG-related learning, supporting Hong Kong’s growing need for sustainability expertise.
Introducing Professional Apprenticeships – The government could explore an employer-focused apprenticeship model as an alternative to full funding of professional qualifications under the CEF. Such initiatives have been proven to drive employee loyalty, enhance value creation, and strengthen the labour market.
Building a Resilient Workforce for Hong Kong’s Future
AICPA & CIMA believe that investing in skills development and professional education will be key to economic growth and workforce sustainability in Hong Kong and the Greater Bay Area. By integrating talent-focused policies into the 2025-26 Budget, the government can ensure Hong Kong remains an attractive destination for businesses and professionals alike.
