Hong Kong economy set for continued growth in second quarter, Paul Chan says
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Financial Secretary Paul Chan Mo-po said on Sunday that the 10th consecutive quarter of year-on-year growth was driven by strong exports, a rebound in private consumption and a series of mega-events held in the city.
The gross domestic product (GDP) figure is due to be revealed on Thursday.
'[We are] going all out to explore new growth points, especially vigorously supporting the development of innovation and technology,' Chan wrote in his weekly blog post. 'We are also committed to opening up new overseas markets, finding new partners for cooperation and developing supply chain management centres.'
Hong Kong's economy has posted year-on-year growth of between 1.6 per cent and 4.3 per cent every quarter since the first three months of 2023.
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The economy in the first quarter of 2025 grew 3.1 per cent compared with the same period last year, following a 2.5 per cent year-on-year expansion in the fourth quarter of 2024.
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