Hong Kong’s finance chief has predicted the economic system to put up stable progress within the first quarter, whereas pledging to press on with plans to regulate authorities spending to take care of town’s competitiveness.
Monetary Secretary Paul Chan Mo-po gave his forecast on Sunday within the lead-up to this week’s announcement of gross home product (GDP) figures for the quarter.
He stated the economic system had benefited from the rise in vacationer arrivals and exports between January and March, however warned of uncertainties within the world outlook amid an ongoing commerce battle.
“Pushed by these optimistic elements, the advance estimates on GDP for the primary quarter of 2025 to be launched this week are anticipated to be sturdy,” he stated in his weekly weblog.
“However wanting forward, the bullying acts and the unilateral protectionism of the US will proceed to hang-out the worldwide financial outlook.”
Chan stated the variety of vacationer arrivals within the first quarter had elevated by 9 per cent yr on yr to 12.2 million, due to a collection of mega-events and large-scale worldwide conferences that boosted the efficiency of the retail and catering sectors.
