Hong Kong’s economic growth this year, slag hitting slowed to 2.5%
Hong Kong, chief executive of Standard Chartered Bank Greater China and North Asia, said at the Asian Financial Forum yesterday that there are many uncertainties in the global economy this year, including the pace of US interest rate hikes, the Brexit and Sino-US trade wars all affecting the market, but I believe it will not The market is panicking. It is expected that the global economy will grow by 3.8% last year. It is predicted that this year’s economic growth will slow down to 3.5% to 3.6%, which is still higher than the average growth of the past 10 years.
Regarding interest rate hikes, Hong Weizheng pointed out that the US economy is still stable in the first half of this year. The Fed may raise interest rates. As for whether Hong Kong will follow the interest rate hike, depending on the pace of US interest rate hikes and the status of Hong Kong funds, Hong Kong is currently well-funded and may not Following the rate hike, it also means that Hong Kong’s economy is sound. It is expected that economic growth will slow down to 2.5% to 3% this year, but it is considered to be too pessimistic.
The orderly adjustment of the property market is positive
As for the property market, he said that the property market has been rising for a long time. The current orderly adjustment is positive. I believe that the property market in Hong Kong will develop healthily. He expects that in the next 10 years, Asia will become the world’s major consumer market. The Hong Kong trade corridor will be transferred from east to west, and trade will have the opportunity to conduct in renminbi. The market will increase demand for renminbi, and Hong Kong should be prepared for this.
In addition, the Secretary for Commerce and Economic Development, Mr Edward Yau, said at the meeting that the economic performance of Hong Kong was still good last year. The economic growth was still higher than the average of the past 10 years. The trade also showed growth. However, due to the market’s many uncertainties, for example Trade frictions, etc., make it difficult to predict the economic performance of Hong Kong this year and call for preparedness.