Hong Kong finance chief Paul Chan ‘confident’ over economic rebound this year as consumption climbs, positive investor sentiment returns
- Financial Secretary Paul Chan points to flurry of business delegations from mainland China and overseas, says Greater Bay Area positioning top of mind for visiting parties
- Growth in local spending and latest round of consumption vouchers both positive for economic recovery, he says
Hong Kong’s finance chief has struck an optimistic note over a potential economic rebound for the rest of the year, saying local consumption has surged and positive investor sentiment is gradually returning.
“The investment sentiment in Hong Kong has gradually recovered and we also saw remarkable growth in local consumption. I am confident that Hong Kong’s economy will rebound for the rest of 2023,” Chan said after meeting lawmakers.
The Census and Statistics Department figures released on Tuesday showed that the value of the city’s exports fell to HK$367.2 billion (US$46.8 billion) in March, tapering off to a 1.5 per cent year on year decrease helped by a rebound in demand from the United States and the European Union.
Chan revealed that a recent Australian business delegation was “very interested in Hong Kong and its role in the bay area”.
