Hong Kong’s economy is expected to continue growing after a strong performance in the previous quarter, supported by the global economic environment, a vibrant financial market and an interest rate cut, the city’s leader has said.
The remark came as a central figure from the Chinese Academy of Social Sciences, a prominent Beijing-based research institute and think tank, joined local policymakers in discussing Hong Kong’s role in the global economy at a forum on Tuesday.
Chief Executive John Lee Ka-chiu said that a persistent rise in exports and sustained expansion in domestic demand had contributed to the city’s “robust” economic performance in the third quarter, despite turbulence in the global economy, which recorded 3.8 per cent growth.
“Looking ahead, the Hong Kong economy should see further solid growth, supported by sustained moderate global economic growth, vibrant financial market activity, interest rate cuts in the US, a continued increase in visitor arrivals and so on,” Lee said in his speech at the international forum on mainland China’s economy and policy.
The event was co-organised by the Chief Executive’s Policy Unit, the National Academy of Economic Strategy under the Chinese Academy of Social Sciences, and the Chinese Institute of Hong Kong.
Lee highlighted that Hong Kong has remained a “resilient and resourceful economy”, with its achievements recognised in various global rankings, such as being named the world’s freest economy and ranking third in the World Competitiveness Yearbook.
According to Lee, such international recognition underscored the city’s economic strengths, supported by the rule of law and a common law system, both offering vital assurances to investors.
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