PANews reported on February 26 that Hong Kong SAR Government Financial Secretary Paul Chan Mo-po today (26th) delivered the government budget for the fiscal year 2025-2026 in the conference hall of the Legislative Council Complex of the Hong Kong SAR. Paul Chan said that in order to guide and support Hong Kong's AI innovation, R&D and industrial applications, the SAR government has reserved HK$1 billion to establish the Hong Kong Artificial Intelligence Research Institute. The Digital Policy Office will formulate the establishment arrangements and specific goals of the institute, focusing on promoting AI upstream R&D, mid- and downstream results transformation and developing application scenarios.