Hong Kong Economy 'Thriving,' Says Financial Secretary Chan

Hong Kong's economy is "thriving" despite the global economic downturn, Financial Secretary Paul Chan Mo-po said on Wednesday.

Chan made the remarks in a blog post, in which he said that the city's economy grew by 3.9% in real terms in the first half of 2023, compared with the same period last year.

He attributed the growth to a number of factors, including the city's strong financial sector, its role as a global trade and logistics hub, and its efforts to attract foreign investment.

Chan said that the city's unemployment rate remained low at 3.3% in June, and that the government was committed to providing support to businesses and individuals affected by the global economic downturn.

He also said that the government was working to diversify the economy and reduce its reliance on a single industry.

Chan's comments come as Hong Kong faces a number of challenges, including the ongoing COVID-19 pandemic, the war in Ukraine, and rising inflation.

However, he said that the city was well-positioned to weather these challenges and continue to grow.