Pointing to steady economic growth amid a challenging global environment, Financial Secretary Paul Chan Mo-po on Sunday called for public input ahead of the upcoming fiscal Budget consultation, saying collective efforts are needed to build a better future for Hong Kong.
In his weekly blog, Chan reflected on his recent visit to the 59th Hong Kong Brands and Products Expo, where he observed exhibitors placing strong emphasis on product innovation and the application of technology.
By leveraging technological trends alongside the “Made in Hong Kong” advantage, he said, smart products could unlock significant business opportunities.
Chan reported resilient economic performance from January to November, highlighting double-digit year-on-year growth in goods exports, as well as signs of stabilization in the retail, catering, and residential property markets.
Despite external uncertainties, increased business investment helped drive a 3.3 percent year-on-year expansion in the first three quarters, prompting the government to revise its full-year GDP growth forecast upward to 3.2 percent, he wrote.
Chan said a strong rebound in tourism, together with vibrant financial market activity, has significantly boosted the services sector, including retail and dining. He credited the joint efforts of the government and the industry for the rise in visitor arrivals, which exceeded 45 million in the first 11 months of the year, representing a 12 percent increase compared with the same period last year.
Of these visitors, more than 10.77 million came from outside the mainland, marking a 16 percent year-on-year increase. With the Christmas and New Year holidays approaching, Chan expressed hope that a range of activities and promotional offers would be rolled out for family gatherings and tourists, helping to further stimulate consumer spending and economic momentum.
Citing Hong Kong International Airport’s recent recognition as the “World’s Leading Airport for Customer Experience” at the 32nd World Travel Awards, Chan said the accolade reflects the city’s ongoing transformation within the tourism industry.
He also noted that international market research ranks Hong Kong second globally for international visitor arrivals, underscoring its appeal as a city that blends Eastern and Western cultures, offers convenient access to urban and natural attractions, provides diverse and affordable dining options, and maintains a strong reputation for safety.
Chan also pointed to growing investor confidence, noting that several financial institutions and major e-commerce platforms have recently leased or purchased multiple floors or entire commercial buildings to expand their operations in Hong Kong.
Looking ahead, as public consultations for the next fiscal Budget are set to begin shortly, Chan urged different sectors of society to put forward concrete proposals.
He said suggestions should focus on accelerating the development and application of innovative technologies, creating more quality job opportunities, and laying a stronger foundation for the city’s long-term growth.
