The Chinese financial metropolis of Hong Kong, which has been hit by the real estate crisis, wants to cut staff. According to plans, 10,000 public sector jobs are to be cut in order to bring the rising budget deficit under control. The government also wants to launch a major initiative to promote artificial intelligence (AI). This will show a path towards the goal of a balanced budget, said the Financial Secretary of the Special Administrative Region government, Paul Chan. The 10,000 jobs in the civil service are to be eliminated by April 2027, which would correspond to a reduction in the workforce of two percent in each of the next two years.