Hong Kong maintains full-year GDP at up to 3pc amid promising Q1 results

Hong Kong’s economy remained resilient in the first quarter, and the government is maintaining its full-year gross domestic product growth forecast at 2 to 3 percent, Financial Secretary Paul Chan Mo-po said.

"The city’s real GDP grew 3.1 percent year-on-year in the first quarter, and overall goods exports rose 8.4 percent. Service exports also surged 6.6 percent, and total investment spending rose 2.8 percent during the period, supported by higher visitor arrivals, increased cross-border transport, and robust cross-border finance and fundraising activities," Chan said.

Chan noted that amid ongoing external uncertainties, rising US protectionism, and local structural adjustment challenges, the government is moving swiftly to implement various policy measures. These include strengthening market fundamentals, driving economic transformation through innovation, exploring new markets and opportunities, and accelerating the development of the Northern Metropolis, he added.

Meanwhile, Chan expressed confidence that China’s economy will continue its steady and positive growth this year, supported by the central government’s recent moves to cut reserve requirements and interest rates, as well as measures to support businesses.

STAFF REPORTER