Paul Chan: Q2 GDP estimates to reflect continued economic growth in HK

Hong Kong Financial Secretary Paul Chan announced that the estimated GDP figures for the second quarter will be released this week, reflecting ongoing economic growth in Hong Kong.

He noted that despite ongoing geopolitical challenges, interest rates are expected to decrease later in the second half of the year, which he believes will positively impact investment and asset markets. Additionally, the overall stability and progress of the national economy significantly support Hong Kong's economic landscape.

Chan mentioned that many enterprises are actively pursuing plans to list in Hong Kong, and implementing various supportive policies from the mainland is expected to bolster different economic sectors.

Regarding the profound changes in both internal and external environments facing Hong Kong, Chan emphasized the need for the city to adapt.

He stated that understanding the direction of national policy development is crucial for Hong Kong to leverage its strengths and align with national growth, thereby facilitating high-quality economic development while empowering various industries.

He also highlighted the recent series of themed exhibitions and major Hong Kong events that have attracted numerous tourists and community enthusiasts, stimulating the local economy.

Recent figures indicate increased merchandise exports and overall investment, benefiting from sustained external demand and rapid growth in national exports. Local merchandise exports have shown strong performance, with three consecutive months of double-digit year-on-year growth, culminating in a 12.5% increase in the second quarter. Overall, investment expenditure in Hong Kong continues to grow, with the potential for this momentum to persist.