A view of Hong Kong Photo: VCG
Hong Kong's 2025 GDP growth will be better than that in 2024, Hong Kong Special Administrative Region (HKSAR) Chief Executive John Lee Ka-chiu said on Sunday, according to media reports.
"My team and I will take the views of the public seriously, continue to be innovative and proactive in addressing the concerns of our people, and unite all sectors in society to build a vibrant economy and strive for development," Lee told citizens attending the 2024 Policy Address District Forum, per a government press release.
Responding to questions concerning the HKSAR's economic performance and outlook, Lee said he expects the economy next year to be better than this year, according to local media outlet hk01.com. Lee noted that Hong Kong is in the middle of a transitional period, facing uncertainties including the global outlook for the economy and interest rates.
Hong Kong's economy continued to record moderate growth in the second quarter of this year, with GDP expanding 3.3 percent year-on-year, driven by exports and investment growth, data from the HKSAR government showed on Friday. The pace quickened from a rate of 2.8 percent in the preceding quarter.
For the full year, the HKSAR government has maintained a growth forecast of 2.5-3.5 percent, the same as in May.
Experts noted that Hong Kong's economic vitality could be further boosted by deepening the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) regional cooperation.
Liang Haiming, chairman of the China Silk Road iValley Research Institute, told the Global Times on Sunday that the HKSAR could further promote the convergence of rules, mechanisms and standards to boost the sharing of policy formation, resources and information within the GBA.
The financial hub's stock market saw a notable comeback in the second quarter as sentiment improved following the announcement of measures to enhance mutual access between the capital markets of the Chinese mainland and Hong Kong, with the benchmark Hang Seng Index jumping to a near 10-month high of 19,636 points on May 20.
The GBA has seen continued deepening of people-to-people exchanges, injecting new vitality into the development of the special administrative regions of Hong Kong and Macao and their long-term prosperity.
The Hengqin Port in Zhuhai, South China's Guangdong Province, has handled 48 million passenger trips in the past four years, with an annual growth rate of 62.2 percent, data from the Zhuhai inspection and quarantine authorities showed on Saturday.
