Hong Kong Finance Chief Sees Growth Near Lower End of Forecast
Hong Kong's financial chief has said that the city's economy is likely to grow at the lower end of the government's forecast range this year, as the global economic outlook remains uncertain.
Paul Chan made the comments in a blog post on Sunday, saying that the city's economy is facing "downward pressure" from a number of factors, including the US-China trade war, the ongoing protests in the city, and the global economic slowdown.
"The external environment is likely to remain challenging in the coming months," Chan wrote. "We must stay vigilant and be prepared to take further measures to support our economy if necessary."
The Hong Kong government had previously forecast that the city's economy would grow by between 2% and 3% in 2019. However, Chan said that the city is now likely to grow at the lower end of that range, or even below 2%.
The financial chief said that the government is taking steps to support the economy, including providing financial assistance to businesses and households, and increasing infrastructure spending. He also said that the government is working to improve the city's business environment and attract more investment.
Despite the challenges, Chan said that he is confident that Hong Kong's economy will remain resilient. He said that the city has a strong financial system, a highly skilled workforce, and a strategic location.
