Hong Kong is to launch a bid to become a global powerhouse in the HK$10.74 trillion (US$1.37 trillion) green technology finance market, the Post has learned.

A new task force will draw up policies designed to cash in on the sector and create a new economic pillar to boost the city.

The plan to turn Hong Kong into an international green tech and green finance centre and the launch of a green tech week towards the end of this year are expected to be highlights of the budget unveiled by Financial Secretary Paul Chan Mo-po on Wednesday.