Hong Kong's Economic Expansion Reaches 14 Consecutive Quarters, Financial Secretary Stresses Balancing Growth and Stability

Stock News
Aug 25

Hong Kong's Financial Secretary, Paul Chan, announced via social media that the region's economy has sustained growth for 14 straight quarters, with a first-half expansion of 5.1% that surpassed market forecasts. He underscored the necessity of harmonizing development with security, describing the two as "two sides of the same coin."

Currently, Hong Kong is actively aligning with the nation's broader development strategy while initiating its first five-year plan to strengthen long-term growth drivers. Chan noted that under the "one country, two systems" framework, Hong Kong's core competitive edges—including its free-port status, global integration, open and diverse society, connectivity as a bridge between mainland China and the rest of the world, and its straightforward low-tax regime—remain intact.

However, he emphasized that a secure, stable, and predictable investment climate is essential to attract capital, enterprises, and talent, which constitutes the most critical factor for any long-term investment. Over recent years, Hong Kong has reinforced its national security safeguards, fostering a more favorable business environment. This has coincided with improved rankings in international assessments of finance, innovation, technology, talent, and overall competitiveness.

Official data reveals that the number of overseas parent companies with regional operations in Hong Kong surpassed 11,000 last year, marking a record high. Foreign chambers of commerce and businesses have expressed robust confidence in Hong Kong's economic outlook. Chan concluded that amid a volatile geopolitical landscape, Hong Kong serves as a "safe harbor" and a "development hub" where global capital, enterprises, and talent can concentrate on growth and future prospects.

He reiterated that the SAR government will persist in leveraging high-level security to ensure high-quality development, guaranteeing the enduring stability and success of the "one country, two systems" principle.

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