Chan Maobo: Hong Kong's economy is demonstrating strong resilience and momentum

Ask AI · Hong Kong’s Export Growth Exceeds Expectations, What New Changes Are There in the Role of Regional Supply Chains?

China News Service Hong Kong, March 29 – The Financial Secretary of the Hong Kong Special Administrative Region, Paul Chan, stated in a blog post on the 29th that a series of large-scale events have been held in Hong Kong over the past few weeks, showing a strong recovery momentum in the tourism industry. Coupled with the continued improvement in the stock market and the residential property market, this has driven sustained growth in industries such as catering and retail, further consolidating market confidence.

He indicated that major events and sports competitions have added greater vitality and momentum to the tourism industry. As of March 27, the number of visitors to Hong Kong this year has exceeded 13.7 million, a year-on-year increase of about 17%. In this favorable atmosphere, it is expected that the total retail sales value for February, which will be announced soon, will show a substantial increase, likely marking the tenth consecutive month of year-on-year growth, reflecting the continuous enhancement of local consumption power.

Paul Chan mentioned that Hong Kong will continue to promote various large-scale financial, cultural, and sports events to attract more high-value tourists.

He stated that Hong Kong’s overall economy continues to improve. In terms of exports, the value of Hong Kong’s goods exports in the first two months of this year increased by nearly 30% year-on-year, marking 24 consecutive months of growth, exceeding market expectations. This indicates a steady recovery in external demand, with Hong Kong playing a key “super connector” role in the reshaping of regional production and supply chains. Investment also maintains growth, with the Purchasing Managers’ Index rising to a nearly three-year high in February and remaining in the expansion range for the seventh consecutive month, showing that businesses’ confidence in the operating environment and business prospects is continuously strengthening.

He pointed out that Hong Kong’s economy is exhibiting good resilience and momentum, and the public finances are also continuously improving. The SAR government will drive transformation and upgrading in various industries and cultivate new growth momentum through the dual axes of “AI+” and “Finance+”.

Regarding the recent situation in the Middle East, Paul Chan stated that since Hong Kong’s economy is service-oriented and the proportion of goods exported to the Middle East is relatively low, the immediate direct impact is limited. If the conflict persists, it will inevitably affect the global macroeconomic situation, interest trends, and capital flows. The SAR government is closely monitoring and assessing the market’s operating conditions. (End)