Hong Kong’s finance chief has predicted the economy to post solid growth in the first quarter, while pledging to press on with plans to control government spending to maintain the city’s competitiveness.
Financial Secretary Paul Chan Mo-po gave his forecast on Sunday in the lead-up to this week’s announcement of gross domestic product (GDP) figures for the quarter.
He said the economy had benefited from the increase in tourist arrivals and exports between January and March, but warned of uncertainties in the global outlook amid an ongoing trade war.
“Driven by these positive factors, the advance estimates on GDP for the first quarter of 2025 to be released this week are expected to be robust,” he said in his weekly blog.
“But looking ahead, the bullying acts and the unilateral protectionism of the United States will continue to haunt the global economic outlook.”
Chan said the number of tourist arrivals in the first quarter had increased by 9 per cent year on year to 12.2 million, thanks to a series of mega-events and large-scale international meetings that boosted the performance of the retail and catering sectors.
