Hong Kong may raise GDP forecast as growth poised for 5-year high: Paul Chan
Hong Kong’s economic growth this year could be the city’s strongest in five years, with potential for further upward revisions after the full-year forecast was previously raised to a range of 3.5 to 4.5 per cent, the finance chief has said. Financial Secretary Paul Chan Mo-po said on Saturday that the city’s economy grew by 5.1 per cent in the first half of the year, driven by strong export…
Economic growth in Hong Kong is poised to reach its strongest level in five years, with the potential for further revisions upwards, according to Financial Secretary Paul Chan Mo-po. The city's economy expanded by 5.1% in the first half of this year, driven by strong export momentum and investment growth. Chan stated that exports remained "very strong" in the third quarter, and the upcoming Fintech Week and Global Financial Leaders' Investment Summit would attract more visitors to the city.
The government anticipates that the full-year growth forecast could be raised even further, with the current outlook of 3.5 to 4.5% being the city's strongest in five years. In the first half of 2026, exports surged by 28.9% year-on-year, while private consumption expenditure rose by 2.8% and overall investment increased by 4.4%.
Tourism also contributed to growth, with 26.71 million visitors arriving in the city's first half, a 13% increase from the previous year. Despite optimism, Chan cautioned that geopolitical factors continue to pose risks, including rising oil prices and inflationary pressures. The government remains vigilant about financial risks, urging caution in all investment aspects.
Written by urgent.news from South China Morning Post - Hong Kong's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
