Hong Kong ‘optimistic’ on economic growth despite global slowdown, Paul Chan says
Hong Kong is more “optimistic” about its economic growth this year than the International Monetary Fund (IMF) is about the global outlook, the finance chief has said, pointing to the city’s unique position to capitalise on international capital flows and the artificial intelligence (AI) boom. Writing on his blog on Sunday after attending the IMF and World Bank Group’s annual meetings in Bangkok,…
Financial Secretary Paul Chan emphasized on Sunday that Hong Kong could aid the growth of other economies and businesses while elevating its own position. Chan made these remarks in his weekly blog following his visits to Nanjing and Bangkok. Chan highlighted two major requirements: developing economies need capital and technology, while mainland firms require international markets and professional services.
Chan pointed out that both these needs align in Hong Kong - a location that can channel global capital and connect to China's technology and industries. Chan explained that Hong Kong can enable the development of others while simultaneously improving itself. With its efficient fundraising and financing abilities, Hong Kong can support developing economies in establishing AI infrastructure, Chan said.
He also mentioned that the SAR can help mainland enterprises go global. Chan noted that persistently high energy prices due to global conflicts and the AI boom are transforming the global economy. Despite this, he expressed optimism about Hong Kong's economic growth.
Written by urgent.news from RTHK News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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