Fitch predicts 5pc contraction in HK economy

Business | 29 May 2020 4:10 pm

Fitch Ratings expects the Hong Kong economy will shrink by 5 percent this year, dragged down by the coronavirus pandemic,  but will grow by 3.5 percent next year, as global economic activities rebound.

The credit rating agency said the highly-competitive Hong Kong banks will face more challenges. The operating environment in the future is negative.

 

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