HK well-prepared for golden week amid economic optimism: Paul Chan

Financial Secretary Paul Chan Mo-po has stated that the government will ensure proper supporting measures and crowd management at popular tourist spots for the upcoming Labour Day Golden Week.

Writing in his blog on Sunday (Apr 26), Chan noted that the Immigration Department expects around 980,000 mainland tourists to visit during the five-day holiday, an increase of about 7 percent from last year.

He said this influx will bring significant business to the retail, catering, hotel, and tourism industries, adding that appropriate preparation will provide a better experience for tourists while allowing local sectors to benefit.

Chan also expressed confidence in the broader economy, stating that a recovering property market and a stable financial sector are providing solid support and boosting consumer confidence. 

He pointed to recent data showing continued improvement in the retail and catering industries and a drop in the latest unemployment rate to 3.7 percent.

Meanwhile, Chan emphasized that Hong Kong's position as an international financial center is continuously strengthening, noting that daily turnover in the stock market has exceeded HK$280 billion since last month. 

He highlighted that Hong Kong continues to rank first globally in new IPO fundraising this year, with over HK$140 billion raised as of last week.

Chan also mentioned that Hong Kong's appeal is growing as global investors seek to diversify their assets. 

He pointed to the city's active development of its international gold trading market, citing the recent listing of Hong Kong’s leading Exchange Traded Funds (ETF) provider, CSOP Asset Management.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓