Edward Yau flags further economic pain in second quarter

Local | 14 May 2020 11:36 am

Hong Kong's economy which contracted by an unprecedented 8.9 percent in the first quarter will endure a similar fate in the second quarter, the Secretary for Commerce and Economic Development Edward Yau Tang-wah, has told a conference. 

“The second quarter will not be any better than the first quarter because the trend has been set and we’re still suffering … so I don’t see much light at this point,” he told the South China Morning Post, today at its China Conference.

Yau had said earlier this month that  the government and the trade are preparing for the worst but hoping for the best.

 

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